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Singapore – A Hub For International Commercial Mediation.

28 April, 2014

 

Legal News & Analysis – Asia Pacific – Singapore – Dispute Resolution

 

In December 2013, the Ministry of Law issued a press release welcoming recommendations to develop Singapore into a centre for international commercial mediation, attempting to emulate the success of the Singapore International Arbitration Centre in becoming a dispute resolution hub for the region. Given the potential for mediation to be a useful tool in a variety of construction disputes, this is a welcome development for the regional construction sector.

 
The recommendations, which the Ministry of Law is currently considering how to implement, advocate the establishment of a Singapore International Mediation Institute (the “SIMI“) and a Singapore International Mediation Centre (the “SIMC“). The role of the SIMI would be to accredit mediators and ensure their professionalism and ethics, whilst the SIMC would provide mediation products and services. The SIMC would sit alongside the existing Singapore Mediation Centre; the former would focus on the development of international mediation whilst the latter would retain its focus on domestic mediation and construction adjudication.

 
It is also suggested that legislation be enacted to strengthen mediation framework in Singapore, particularly in relation to the enforceability of mediated settlements. As a further comparator to Singapore’s regional status as an international arbitration centre, it has been recommended that the tax incentives currently applicable to arbitration be extended to mediation.

 

herbert smith Freehills

 

For further information, please contact:

 

Alastair Henderson, Partner, Herbert Smith Freehills
alastair.henderson@hsf.com

 
Daniel Waldek, Herbert Smith Freehills
daniel.waldek@hsf.com

 

Herbert Smith Freehills Dispute Resolution Practice Profile in Singapore

 

Homegrown Dispute Resolution Law Firms in Singapore

 

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