TOMAC ARBITRATION RULES and MODEL CLAUSE
Effective 1st November 2014
The Rules of Arbitration of TOMAC of The Japan Shipping Exchange, Inc.
Simplified Rules(for claims for up to ¥ 20 million)
The Rules of Simplified Arbitration of TOMAC
SCAP Rules(for claims for up to ¥ 5 million)
The Rules of Small Claims Arbitration Procedure of TOMAC
Any dispute arising out of or in connection with this contract shall be
referred to arbitration in Tokyo by the Tokyo Maritime Arbitration Commission
(TOMAC) of The Japan Shipping Exchange, Inc., in accordance with the Rules
of TOMAC and any amendments thereto, and the award given by the arbitrators
shall be final and binding on both parties.