FIATA SETS UP ARBITRATION CODE FOR MEMBERS IN LEGAL DISPUTES
The International Federation of Freight Forwarders Associations (FIATA) has established an arbitration code for its members, which will permit legal disputes between forwarding agents to be settled at low cost without going through the courts.
A key aspect of the arbitration code is that the arbitration tribunal will be comprised of representatives from FIATA’s Extended Board or Advisory Body on Legal Matters.
The arbitration tribunal will only take a decision, if both parties have accepted the arbitration code in writing. The procedure will generally be in writing and in English. The estimated cost for the arbitration tribunal will range from $500 to $3,000.
Guidelines for the arbitration code will be sent to FIATA members in July.