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TOMAC ARBITRATION RULES and MODEL CLAUSE

Effective 1st November 2014

Ordinary Rules

    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

Model Clause

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.