The service has recovered about $1m for members in the past 12 months.
The Baltic is geared up to handle the specific requirements of an arbitration and offers great support.
Disputes Resolution & Postings
The Baltic Exchange provides support to its members involved with commercial disputes
The Baltic Exchange has a system of “posting” which dates back to its trading floor days whereby the exchange lets its entire membership know if a company has withheld payment to a member, perhaps by not paying a commission or honouring an arbitration award.
Members of the Baltic have access to a comprehensive database of companies with whom other members have experienced difficulties in the past.
Members are advised to check with the Baltic Exchange before fixing with an unknown counter party.
The Baltic can begin the process of chasing payments as soon as it is informed of an issue by a member.
Initially this will involve contacting the parties for information and establishing the facts of the case.
If the dispute is between members, the Baltic Exchange directors may ultimately suspend or expel a member who does not comply with a ruling from the directors or whose behaviour is considered a breach of the Baltic Code 2012.
Where one of the parties is a non-member of the Baltic, then the ultimate sanction is a posting on this site warning members of the risks of doing business with the counterparty concerned.
Often the threat of this step alone will see the problem resolved.
For further details about this service, please contact:
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