The road to broader engagement

    0
    1231
    LinkedIn
    Facebook
    Twitter
    Whatsapp
    Telegram
    Copy link

    Chinese arbitration has its own development track. Riding high on the goals and undertakings of making home-grown arbitration practices more international, the country also charts its course of introducing “China’s experience” and “Oriental wisdom” onto the international arbitration stage. We asked the region’s major player for their views − and their wisdom. Read the full interview with the leaders of six arbitration centres here.

    On 7 august 2019, 46 members of the UN signed the Singapore Convention on Mediation (Singapore Convention). The Singapore Convention is a treaty that seeks to increase the enforceability of mediated settlement agreements across countries. It is named after the city that hosted the signing ceremony, and whose delegates played a key role in the negotiations and drafting of the treaty.

    Arbitration
    Lim Seok Hui

    As of 14 October 2019, Singapore, China and 49 other countries had signed the Singapore Convention. By improving the enforceability of mediated settlement agreements across countries, the Singapore Convention will encourage parties involved in cross-border projects and transactions to use mediation as a time and cost-efficient process as part of their dispute resolution toolkit.

    Arbitration and mediation are complementary forms of alternative dispute resolution that give parties greater flexibility for the efficient, expert and enforceable resolution of their international disputes. Recognizing this, the Singapore International Arbitration Centre (SIAC) and the Singapore International Mediation Centre (SIMC) introduced the SIAC-SIMC Arb-Med-Arb Protocol in 2014 to allow parties to formally consider mediation as part of their dispute resolution process. In the event that parties are able to settle their dispute, the mediated settlement agreement can be recorded as a consent award to benefit from the New York Convention for arbitration.

    The signing of the Singapore Convention is a strong starting point towards increasing the enforceability of mediated settlement agreements across countries. As with the 1958 New York Convention for arbitration, the ratification process by states may take some time. The SIAC will therefore continue to work with the SIMC to jointly promote the SIAC-SIMC Arb-Med-Arb Protocol to support this process. These initiatives will further cement Singapore’s status as a leading dispute resolution hub.

    Following China’s State Council announcement to allow internationally renowned commercial dispute resolution institutions to establish a formal presence in the Shanghai Free Trade Zone (FTZ), back in April 2015, the SIAC lost no time in setting up its representative office in the Shanghai FTZ, in March 2016.

    You must be a subscribersubscribersubscribersubscriber to read this content, please subscribesubscribesubscribesubscribe today.

    For group subscribers, please click here to access.
    Interested in group subscription? Please contact us.

    你需要登录去解锁本文内容。欢迎注册账号。如果想阅读月刊所有文章,欢迎成为我们的订阅会员成为我们的订阅会员

    已有集团订阅,可点击此处继续浏览。
    如对集团订阅感兴趣,请联络我们

    LinkedIn
    Facebook
    Twitter
    Whatsapp
    Telegram
    Copy link