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 />
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