Arbitration In Singapore
What Is Arbitration?
Arbitration is a form of alternative dispute resolution where disputes are resolved outside of the courts. Instead of judges, an arbitration proceeding is heard by one or more arbitrator(s). The parties present their arguments and evidence to the arbitrator(s) who then make a decision. This decision, known as an arbitration “award,” is binding and enforceable in the same way as a court judgement. This is to be distinguished from mediation where no “decision” is made on the merits of a case and any outcome is by way of voluntary, mutual agreement to settle.
Advantages of Arbitration
An arbitration is often preferred to a court proceeding due to two main factors. Firstly, it is held in private and therefore, it ensures confidentiality. Further, parties will likely be bound by a confidentiality clause. Thus, the existence of the dispute, the issues in the dispute and the evidence presented at the arbitration proceedings, which may involve confidential company trade secrets, will be kept confidential. Secondly, arbitration awards for cases involving other jurisdictions may be easier to enforce in some situations than court judgments. As Singapore acceded to the UN Convention on the Recognition and Enforcement of Foreign Arbitral Awards 1958 (“New York Convention”) on 21 August 1986, it will be able to enforce awards from Singapore in member countries.
In Singapore, arbitration is governed by the International Arbitration Act (“IAA”) and the Arbitration Act (“AA”). The IAA applies to international arbitrations involving one or more parties who are not from Singapore and the AA applies to domestic arbitrations involving parties who are from Singapore.
In order to go to arbitration as opposed to having a dispute litigated in a Singapore court or other courts, the contract must have an arbitration clause where it provides for arbitration proceedings to be held instead of court proceedings in the event of a dispute.
Our Background In Arbitration
Our Managing Director – Doris Chia – is a Fellow of the Chartered Institute of Arbitrators (CIArb) and a Fellow of the Singapore Institute of Arbitrators (SIArb). Our team has acted in several arbitration matters involving regional and local parties.
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