Total disputed sum mediated at SMC crosses record S$2.7b mark in 2017
Add BT as a preferred sourceTHE total disputed sum mediated at the Singapore Mediation Centre (SMC) came up to a record high of over S$2.7 billion last year - the highest in the centre's history.
In 2017, 538 matters were filed for mediation at SMC, an 8 per cent increase from 2016. Of these, 465 were eventually mediated, a 15 per cent increase from the previous year.
In a statement on Tuesday, SMC also said that its case load has been growing year on year, with "increased acceptance of mediation as a more affordable, flexible and accessible dispute resolution option" as opposed to legal action in court.
Most of these matters mediated are commercial in nature, with construction and company or shareholder disputes being the most common, the centre said.
Said SMC's executive director, Loong Seng Onn: "Our latest statistics show an ever increasing confidence that mediation can be effective in resolving high value commercial cases. SMC has over 20 years of experience and expertise in providing mediation services, and we hope to build on that experience to become a trusted partner for businesses in resolving high value, complex matters."
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