Subject to the provisions of the law, parties may provide by agreement evidenced in writing that any dispute that may arise relating to carriage of goods under a Convention shall be referred to arbitration.
Where a charter-party contains a provision that disputes arising thereunder shall be referred to arbitration and a bill of lading issued pursuant to the charter-party does not contain a special annotation providing that such provision shall be binding upon the holder of the bill of lading, the carrier may not invoke such provision as against a holder having acquired the bill of lading in good faith.
The arbitration proceedings shall, at the option of the claimant, be instituted at one of the following places:
(a) A place in a State within which territory is situated:
– The principal place of business of the defendant or, in the absence thereof, the habitual residence of the defendant; or
– The place where the contract was made, provided that the defendant has there a place of business, branch or agency through which the contract was made; or
– The port of loading or the port of discharge; or
(b) Any place designated for that purpose in the arbitration clause or agreement.
The arbitrator or arbitration tribunal shall apply the rules of the Convention.
The provisions of paragraphs 3 and 4 of the applicable law are deemed to be part of every arbitration clause or agreement, and any term of such clause or agreement which is inconsistent therewith is null and void.
Nothing in the applicable law affects the validity of an agreement relating to arbitration made by the parties after the claim under the contract of carriage by sea has arisen.
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