
Arbitration in Norway – benefits of NOMA vs. ad hoc arbitration
Arbitration is the most commonly used dispute resolution mechanism in shipping and offshore contracts. Very often however, parties tend to spend little or no effort reflecting on the type of arbitration solution chosen, i.e. ad hoc vs. institutional arbitration. In this article, we will highlight the benefits of agreeing to arbitration under the rules of NOMA – the Nordic Offshore and Maritime Arbitration Association vs. ad hoc arbitration.