The Piraeus Association for Maritime Arbitration (PAMA)
The cost and time effective alternative in maritime dispute resolution
The PAMA: The Piraeus Association for Maritime Arbitration is a private non-profit association founded in 2005 to promote the resolution of maritime disputes by arbitration in Piraeus in view of its growing recognition as a major shipping centre and being an attractive alternative to other places.
Maritime arbitration in Piraeus under the auspices of PAMA will be conducted subject to UNCITRAL’s Model Law for International Commercial Arbitration as adopted by Greece and according to the Rules for Maritime Arbitration adopted by PAMA. Arbitral awards issued as above are enforceable and not subject to appeal.
The parties may select the applicable substantive law, the language and place of the proceedings and they may freely appoint their arbitrator(s), counsel(s) and advisor(s) from all over the world. In case of disagreement on the appointment of the sole or the third arbitrator then the President of PAMA will proceed to the appointment among the Association’s full members.