For decades the maritime industry has turned to the courts or arbitration tribunals for dispute resolution. However, conciliation and mediation is becoming the mainstay for resolving maritime disputes.
Instead of embarking on protracted litigation, the disputing parties bring the matter before a mediation or conciliation board that has no decision-making power, but assists the parties in voluntarily reaching a mutually acceptable settlement. It is important that these dispute resolution professionals understand the dynamics of conflicts and have expert knowledge of the relevant business area.
FICM panel of shipping experts together create first-of-its-kind global service for conciliation and mediation within the maritime industry. Over 100+ experts from 26 countries and five continents bring the best of minds for resolving disputes. The panel consists of highly regarded professionals within the maritime industry, distinguished legal academics and practitioners from all over the world.
FICM provides conciliation services to the maritime industry particularly for resolution of disputes following marine casualties, tort liabilities, and involving interests such as marine and protection and indemnity insurers, shipowners, charterers, shipbuilders, class societies and governmental bodies.
The panel’s work and mediation is governed by a set of FICM mediation rules. Proceedings commence when the parties have agreed to attempt mediation under FICM’s rules. The parties shall then each submit a brief written statement describing the nature of the dispute and the particular points of disagreement.
According to the rules the role of the mediator is to assist the parties to reach an amicable settlement in an independent and impartial manner. The mediator shall be guided by principles of neutrality, fairness and justice, and shall give due consideration to the rights and obligation of the parties, trade practices and the circumstances of the dispute. The mediator may also give advice, recommendations and present detailed settlement proposals to the parties.
The mediator and the parties involved shall keep all matters relating to the mediation confidential, and the settlement agreement can only be disclosed for the purpose of implementation or enforcement.