TOMAC ARBITRATION RULES and MODEL CLAUSE

Effective 1st April 2024

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 and all disputes arising out of or in connection with this Agreement shall be submitted to arbitration held in Tokyo by the Tokyo Maritime Arbitration Commission of The Japan Shipping Exchange, Inc. ("TOMAC") 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.