Page 19 - SINGAPORE: Gateway to Dispute Resolution

• Business-friendly framework:
Singapore laws include an established and well-developed body of commercial laws, equipped to deal with cross-border transactions. In particular:
• Singapore contract law respects party autonomy and freedom of contract.
• Singapore’s rules of contractual interpretation do not interfere with, but seek to give effect to the contracting parties’ commercial intentions.
• Singapore courts generally recognise and enforce clauses relating to contractual indemnities and limits on damages.
• Singapore contract law also recognises beneficial third party rights by reason of the Contracts (Rights of Third Parties) Act, where the contracting parties make appropriate provision.
• Major forms of commercial security and quasi-security interests (such as guarantees and indemnities) are protected, through a system that allows quick and easy enforcement of such interests.
• Effective provisional remedies are also available, such as injunctions and stays.
• Respected judiciary and laws:
Singapore’s Supreme Court Judges are respected jurists with substantial expertise in adjudicating complex cross-border commercial disputes. Singapore has an established and developed body of jurisprudence with a strong foundation, and a legislative framework for commercial law that is modern and effective.
• Judicial support for ADR:
There is reliable and prompt enforcement of parties’ agreements to arbitrate. The Courts readily assist in arbitral procedures such as the granting of interim orders and the enforcement of arbitral awards where necessary. The Courts are also supportive of mediation processes, and will not refuse to enforce an express dispute resolution clause requiring private mediation where obligations on parties are clear and certain. Mediated settlement agreements are recognised as legally-binding contracts by Singapore courts.
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.
The SingaporeLaw website, accessible at www.singaporelaw.sg,
serves as a one-stop web portal, providing updated and relevant information on Singapore law. The website makes available authoritative articles and commentaries on Singapore’s legal system and legal principles. Selected Singapore case law is also highlighted, giving insight into how Singapore courts rule on a variety of cases. Complementing SingaporeLaw is Singapore Law Watch, accessible at www.singaporelawwatch.sg, a free daily news service for the legal professional, featuring the latest legal headlines, Supreme Court judgments, case highlights, legislation and events and seminars.
SINGAPORE ARBITRATION SIAC SCMA MEDIATION MAXWELL SICC SINGAPORE AN OVERVIEW OF CHAMBERS LAW SINGAPORE LAW