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SYSTECH SOLICITORS LEGAL UPDATE

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Summary<br />

While arbitration as an alternative dispute resolution<br />

method has been increasingly popular, there are<br />

many areas in which this method alone cannot<br />

adequately serve the needs of the construction<br />

industry. Arguably the most important benefit of<br />

the SICC will be the ability to provide parties the<br />

opportunity to “tailor processes to serve particular<br />

needs” 7 .<br />

The SICC places great emphasis on its international<br />

and commercial nature, attempting to save time and<br />

eliminate practical procedural issues by allowing<br />

foreign lawyers representation in the court, while also<br />

being able to tackle issues of foreign law. Its neutral<br />

venue provides a great advantage for parties doing<br />

business in the region, and will provide flexibility in<br />

“catering to the ever-growing market for international<br />

commercial dispute resolution in Asia” 8 , filling the<br />

gap to “provide an internationally accepted dispute<br />

resolution procedural framework … in accordance with<br />

substantive principles in international commercial<br />

law” 9 .<br />

The SICC now poises business-friendly Singapore<br />

as a one-stop dispute resolution hub where parties<br />

have the luxury of options to best resolve their<br />

issues quickly and prevent unnecessary costs, and<br />

its success and efficiency are eagerly awaited.<br />

7<br />

iThomas J Stipanowich, “Arbitration: The Choice is Yours” (2010) 3(1) Jams Global Construction Solutions 7<br />

8<br />

Duane Morris and Selvam, “Singapore International Commercial Court” (Press Centre) <br />

9<br />

n5<br />

www.systech-int.com<br />

25

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