LCIA
Category: Legal
Definition (plain English)
The London Court of International Arbitration, an arbitral institution often used for international commercial disputes.
Why it matters commercially
LCIA selection affects procedure, cost, seat expectations, confidentiality, and enforcement planning in cross-border contracts.
Example
A commodity trader accepted LCIA arbitration only after legal confirmed the seat, language, and governing law matched the contract risk profile.
Common mistake
Naming LCIA without checking whether the clause clearly states rules, seat, language, arbitrator count, and interaction with governing law.
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