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New arbitration group to raise Singapore's profile in international arbitration, dispute resolution
THE Singapore Business Federation (SBF), also known as ICC (International Chamber of Commerce) Singapore, has established a new arbitration group as part of its broader aim to promote the interests of the Singapore business community, and to raise Singapore's profile as a hub for international arbitration and dispute resolution.
"This announcement marks a milestone for Singapore as it reinforces the country's reputation as a gateway city for international trade, and one of the most preferred seats of arbitration worldwide," SBF said in a press statement on Wednesday.
The ICC Singapore Arbitration Group will assemble an array of domain experts - comprising both local and foreign arbitration practitioners, academics and counsels - to address the topic of ICC Arbitration and Amicable Dispute Resolution Services (ADR), SBF noted.
In addition, it will work with the relevant stakeholders to represent the Singapore business community, promote ICC arbitration and other dispute resolution services within the region, as well as further develop the expertise of the regional dispute resolution community, SBF said.
Smitha Rajan Menon, partner at WongPartnership LLP Singapore, and Singapore representative to the ICC International Court of Arbitration, will chair the group, while Andrew Yeo, partner at Allen & Gledhill LLP, will serve as vice-chair.
The new group will also have a core committee to set its agenda, and a selection committee of arbitrators to nominate arbitrators for cases referred to the SBF.
Set up in April last year, the ICC Arbitration Case Management Office in Singapore has already administered its first 100 cases.
SBF CEO Ho Meng Kit added that Singapore continues to be one of the top 10 places in the world for arbitration, and that the group's launch will provide a further boost to ICC arbitration here.
Individuals interested to find out more about the new arbitration group may contact the SBF at email@example.com.