The London Chamber of Commerce and Industry launched the London Chamber of Arbitration and Mediation (LCAM) in May 2020. This was a relaunch of the chamber of commerce’s original London Chamber of Arbitration, founded in 1903. The LCAM published its new arbitration rules on 1 September 2022.
Arbitration is often said to be a faster and cheaper method of dispute resolution. As the LCAM puts it, arbitration is favourable as compared to court-based litigation. The LCAM puts that efficiency at the heart of its new rules “owing to the ‘four Es’ of Economy, Efficiency, Expediency and Enforceability. In short, a swifter, cheaper, reliable process for all.”
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