Web Alert: New Singapore Mediation Act
09 February 2017
Singapore has recently established a framework for international commercial mediation in its new Mediation Act 2016 (‘the Act’). The Act will apply to mediations conducted in whole or in part in Singapore or where the mediation agreement provides that Singapore law applies.
Whilst one of the typical weaknesses of mediation is that it is difficult to enforce the mediated settlement should one of the parties renege on the agreement, a key feature of the Act is that parties have the option in some circumstances to have the mediated settlement agreement recorded as an order of court. This will enable the settlement agreement to have the same force as an order of court.
In addition, foreign mediators and foreign qualified counsel may now participate in mediation sessions as amendments have been made to the Singapore Legal Profession Act to provide added flexibility to parties of such mediations.
The overall effect is to increase the range of alternative dispute resolution services available in Singapore for international commercial disputes, including those in the maritime sector.
Should members have any queries please don't hesitate to approach your usual club contact.