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Fixed Cost Arbitration Procedure (FCAP)

The FCAP documents only arbitration guidelines were introduced in May 2005, and aim to limit costs of obtaining an award particularly in cases where the amount of the salved fund is small or where no point of law arises and the facts are uncomplicated.

From 1 January 2020, FCAP has been incorporated in the Lloyd's Salvage Arbitration Clauses (LSAC) under Clause 15. The clauses and fixed costs can be found on our Forms and documents page.