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• Cost-Effectiveness: There is no fee or cost payable to the SCMA to commence an SCMA arbitration. There is also no mandatory scale of arbitrators’ fees based on the amount in dispute (ad-valorem fees). Parties may agree upon the rates with the arbitrator.
• Usability: Singapore is listed as one of the three arbitral seats in BIMCO’s dispute resolution clause, the NYPE Time Charter Party of 2015, and Singapore Ship Sale Form. If Singapore is selected as the seat, the SCMA Arbitration Rules are applicable by default. Parties have the option to choose either English or Singapore Law as the governing law.
• Rules that Reflect the Needs of the Users: SCMA’s rules are simple and kept current with feedback from the industry. This ensures that they are relevant and responsive to the needs of the users. Some of the latest features of our rules include the Arb-Med-Arb Clause, the Small Claims Procedure for claims under the sum of USD 150,000, the Singapore Bunker Claims Procedure (SBC Terms), and the SCMA Expedited Arbitral Determination of Collision Claims (SEADOCC).
• Enforceable and Final Awards: Singapore is a party to the 1958 New York Convention. Arbitral awards issued in Singapore are enforceable in over 150 signatory states. Under the Reciprocal Enforcement of Commonwealth Judgements Act, arbitral awards issued in Singapore are also enforceable in certain Commonwealth jurisdictions. Awards are final and binding with no right of appeal.
• Inclusive Membership Base: Membership of the SCMA is open to companies and individuals from all sectors of the maritime and international trade communities. Members take an active role and provide feedback to ensure SCMA remains responsive to industry needs.
CONTACT DETAILS
Singapore Chamber of Maritime Arbitration
32 Maxwell Road
#02-14 Maxwell Chambers Singapore 069115
Tel: +65 6324 0552
Fax: +65 6324 1565
Website: http://www.scma.org.sg
SINGAPORE ARBITRATION SIAC SCMA MEDIATION MAXWELL SICC SINGAPORE AN OVERVIEW OF CHAMBERS LAW SINGAPORE LAW
