Singapore’s Appeal as an Arbitration Venue
With an increasing number of arbitral centres opening in Asia, arbitration professionals today have many more centres to consider. Yet, Singapore remains a world leader in dispute resolution, with parties continuing to choose Singapore as their preferred seat of arbitration. We list the primary reasons why:
- Singapore is the top city for ICC Arbitrations in Asia
According to ICC dispute resolution statistics, 2017 was the eighth year in which Singapore was ranked as ICC’s top arbitration seat in Asia.
- Stable legal system based on English law
There is strong legislative and judicial support for arbitration.
- Strong international reputation of Singapore International Arbitration Centre
SIAC is one of Maxwell Chambers’ dispute resolution tenants.
- Strategic geographical location
Singapore is a short flight away from major Asian cities such as New Delhi, Tokyo, Seoul and Shanghai, as well as other Southeast Asian cities such as Jakarta, Ho Chin Minh, and Kuala Lumpur.
- Ready pool of highly-skilled arbitrators and arbitration counsel
- User-friendly arbitration laws
Singapore’s arbitration regime is based on the UNCITRAL Model Law for international arbitrations. Furthermore, arbitration awards made here are enforceable in over 140 countries as Singapore is a party to the New York Convention.
- Firm stance against corruption
Singapore was ranked sixth globally in Transparency International’s Corruption Perception Index 2017 and the top-ranking Asian city.
- Reputation as a respected neutral arbitration party in Asia
Singapore is famed for its impartiality, having hosted the famed Trump-Kim summit in 2018.
- Thriving economy
- State-of-the-art facilities and support services
Singapore is home to Maxwell Chambers, an integrated dispute resolution (ADR) complex housing both hearing facilities as well as top international ADR institutions and chambers under one roof.
Maxwell Chambers is a world-class dispute resolution venue housed within a prestigious building. It offers a range of fully-equipped hearing rooms available for selection, together with a full suite of supporting services. Maxwell Chambers is also home to top international ADR firms such as SIAC, SIMC, SMC and more, for the convenience of visiting legal practitioners.