The London Court of International Arbitration dates from the nineteenth century and is one of the preeminent contemporary arbitration institutions worldwide.
The London Court of International Arbitration (LCIA) has its origins in the last decade of the nineteenth century. It was inaugurated in 1892 with these words:
"This Chamber is to have all the virtues which the law lacks. It is to be expeditious where the law is slow, cheap where the law is costly, simple where the law is technical, a peacemaker instead of a stirrer-up of strife.”
In the 21st century the modern LCIA finds itself in an elite group of international commercial arbitration institutions, alongside the International Chamber of Commerce (ICC) based in Paris, the Stockholm Chamber of Commerce (SCC), the American Arbitration Association (AAA), the Hong Kong International Arbitration Centre (HKIAC) and the Singapore International Arbitration Centre (SIAC). Like them, it administers a wide range of arbitrations for parties from around the world. It does so both under its own rules and under the UNCITRAL Arbitration Rules.
For more information about the LCIA, visit www.lcia.org/
I was privileged to serve as Registrar of the LCIA in 2008-2012, a period of exceptional growth in the wake of the global financial crisis. In 2009, the LCIA Court made 502 appointments of arbitrators, a record which still stands.
The turmoil in the commodities markets at that time revealed that LCIA clauses had been written into a number of standard form contracts. The institution was administering cases which in the past would have been ad hoc arbitrations or administered by a trade association. Commodities and shipping disputes continue to be referred to the LCIA.
In 2010 the LCIA Court began a review of the LCIA’s Arbitration Rules. I assisted with that process both while I was Registrar and afterwards. The new Rules were published in 2014.
I co-authored the first book on the new Rules, which was published by Sweet & Maxwell in 2015, 'A Commentary on the LCIA Arbitration Rules 2014' by Shai Wade, Philip Clifford and James Clanchy: www.sweetandmaxwell.co.uk/Catalogue/ProductDetails.aspx?recordid=3405.
For comments on the LCIA's case numbers and its initiative to publish costs
and duration data, see my Lexis Blog post on arbitration statistics.
In 2008, the LCIA established a joint venture with the Dubai International Financial Centre (DIFC), an offshore jurisdiction. The DIFC-LCIA Arbitration Centre, whose rules are based on the LCIA’s, combines the international best practices and reputation of the LCIA with an understanding of the local and regional legal and business cultures in the MENA region.
I am pleased to have been appointed by the LCIA Court as sole arbitrator in an arbitration under the DIFC-LCIA Arbitration Rules 2016.