Page 12 - SINGAPORE: Gateway to Dispute Resolution

MEDIATION
Singapore is the leading promoter of mediation in Asia. Mediation is a confidential, quick and cost-effective dispute resolution process centred on party-driven solutions and is well suited to Singapore’s pro-business environment.
As an informal and flexible process, mediation is well suited to accommodate cultural, legal and commercial differences between disputing parties, while preserving party autonomy and business relationships. The potential of innovative hybrid dispute resolution mechanisms such as the arbitration-mediation-arbitration process adds to mediation’s attractiveness.
Why mediate in Singapore?
• Well-established process:
Mediation is a widely accepted mode of dispute resolution in Singapore. Its processes are well-understood by the legal and business community, and mediation is strongly supported by the judiciary.
• Availability of mediation services:
A full menu of options is available to international parties when deciding to resolve their dispute by mediation in Singapore:
• The Singapore International Mediation Centre (SIMC) makes available an elite panel of highly experienced and effective international mediators for cross-border disputes.
• For domestic mediation cases, the Singapore Mediation Centre (SMC) has reliable, cost-effective and efficient mediation services, with a long track record of success.
• Enhanced enforceability:
Our Mediation Act provides a mechanism for parties to record their mediated settlement agreement as a court order, thereby enhancing the enforceability of the agreement.
• Other top international alternative dispute resolution providers which have chosen to establish offices in Singapore include the World Intellectual Property Organization Arbitration and Mediation Center and the International Chamber of Commerce’s International Centre for Alternative Dispute Resolution.
• Professional mediation standards:
The Singapore International Mediation Institute (SIMI) provides strong support to Singapore’s mediation capabilities. A professional standard-setting and credentialing body affiliated with the International Mediation Institute, SIMI promotes best mediation practices and high mediator competency standards.
• Tax exemptions:
To support the use of Singapore’s international mediation services, a tax exemption allows income derived by a qualifying non-resident mediator for mediation work carried out in Singapore from 1 April 2015 to 31 March 2020 to enjoy exemption from withholding tax.
AN OVERVIEW OF SINGAPORE SICC MAXWELL MEDIATION SCMA SIAC ARBITRATION SINGAPORE SINGAPORE LAW LAW CHAMBERS