W W W. B R I T C H A M . O R G . S G
Property & Construction Group Chairperson: Richard Warburton —EC Harris Singapore Pte Ltd
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ith the global construction market forecast to grow by more than 70% by 2025, we will continue to see construction projects growing in complexity, both technically and commercially, involving many parties in an extensive supply chain. While all parties want to avoid disputes, there will be conflicts in priorities and, as such, they are inevitable. The parties’ original intentions and desires may not be clear and may also change throughout the lifetime of any project. Many parties want to resolve their disputes, wherever possible, without resorting to costly and damaging litigation. Alternative dispute resolution (ADR) provides some relief for parties by introducing techniques such as mediation, adjudication and arbitration.
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The international ADR market has seen rapid growth, with centres of excellence developing all around the globe. The international dispute resolution market is competitive, with international centres competing to be the preferred choice. International dispute resolution raises the profile for the country concerned by demonstrating a transparent, independent and efficient legal system that produces consistent and, more importantly for the parties, internationally enforceable awards. Singapore is one such location. The centre comprises the Singapore International Arbitration Centre (SIAC) and Singapore Mediation Centre (SMC). What Singapore has to Offer The SIAC presents a compelling set of credentials in staking its claim to be one of the world’s leading arbitration centres,
including its position as an independent and neutral third-country venue, ranked No. 5 in the world for neutrality in the Corruption Perceptions Index, an open economy and international business environment, excellent legal and technological expertise, and offering a central and easily accessible location in SouthEast Asia. Singapore’s Mediation Centre is internationally recognised and plays a key part in parties’ attempts to resolve disputes prior to entering into more formal processes. Clearly, Singapore has already positioned itself as one of the leading centres for international and domestic dispute resolution, and continues to invest and develop to further advance its international standing.
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