If you need fast-track resolution of a disputed issue, propose an Asdem arbitration, professional opinion or Asdem early intervention / mediation.
Since 1993, Asdem arbitrations have proven to be a faster, cost-effective and efficient alternative to traditional Arbitration or High Court proceedings. They have been used by many oil companies, shipowners and traders who value Asdem’s reputation for independence.
Many arbitration procedures are painfully slow and as expensive as High Court proceedings and unpredictable. In response to the oil and tanker industries' demand for a faster, cheaper and more efficient alternative and reliable decisions based on industry expertise, knowledge and experience, Asdem established its own arbitration service in 1993.
Asdem arbitration is less formal and adversarial than most forms of arbitration. It is quick. A detailed reasoned award will be given, usually within 30 days. Settlement should be made within 30 days of the award.
Click here for the Asdem Arbitration Rules/Procedure.
Asdem professional opinions provide parties in dispute with an independent assessment of the dispute which the parties may choose in advance to accept as final and binding or as guidance.
There are often just one or two points in a claim that cannot be agreed
This approach can be cheaper and quicker than arbitration and usually only requires both sides to send their version of events and arguments to Asdem in a less formal manner. Once the facts have been established, Asdem will produce a reasoned professional opinion.
Because of Asdem's familiarity with a wide variety of contracts and charterparties, and the way they are used and interpreted by the oil industry, the company is often asked to intervene in disputes.
Mediation has proved particularly suitable for companies with an ongoing relationship, which they do not want to disrupt for the sake of one disagreement.
And in cases where mediation is not initially possible, one party can start an Early Intervention instead by requesting Asdem to use its experience to encourage the other party into the process.
In almost every case in which Asdem has been involved, it has been possible to avoid the expense of court or arbitration proceedings. Asdem draws upon many years of industry practice and precedents, including involvement in a huge number of issues previously resolved by the company.
