In the world landscape, Singapore is the most popular seat for international arbitrations. With an emphasis on mediation and arbitration, Singapore has established itself as a global dispute-resolution hub. But why should you choose your case Arbitration in Singapore?
Why should you choose Arbitration over Litigation?
- In arbitration, there is no winning or losing. So, neither side holds grudges against the other one.
- Evidence can be kept private in arbitration, unlike litigation.
- Confidentiality of the case makes arbitration preferable. While in litigation, you can keep certain information confidential, in arbitration, you can keep the entire proceeding secret and confidential.
- Arbitration is less expensive compared to litigation.
- Arbitration is preferable as both parties can choose the location of the arbitration, the language used throughout the proceedings, etc.
- While litigation is about competing, arbitration is collaboration. Both parties prefer arbitration because it will be beneficial to both of them.
So, sitting down and resolving disputes by communication is more advantageous than filing a case and fighting litigation.
Why should you choose Singapore for arbitration?
Here are the top 5 reasons.
- Support from Government and Judiciary:
Its government supports arbitration by adopting a tripartite approach to dispute resolution. Besides, to ensure access to high-quality mediation services and expertise, the Singapore Government has set up institutions like the Singapore International Commercial Court, Singapore International Mediation Centers, etc. Even White Collar Defense in Singapore prefers arbitration.
- Arbitration-friendly legal framework:
Most of the people choose Singapore as their seat for international arbitrations because of its legal framework. Starting from the International Arbitration Act to a lot of other local regulations, their laws are arbitration-friendly because they have drafted their laws in such a way to incentivize arbitration.
- High-quality arbitration lawyers:
If you choose Singapore for the arbitration of your case, you will have access to highly qualified and experienced legal firms and lawyers like Sreenivasan Narayanan. Comparatively easy accessibility to high-quality lawyers makes Singapore a hub for arbitration services.
- Neutrality:
Singapore, as a country, always prefers neutrality. With no bias to any country, this has emerged as a popular hub of international arbitrations.
- Geographical location:
The strategic location of Singapore in Asia adds to its popularity as an arbitration hub. It serves as an easy getaway for international arbitrations for growing economies around the continent. With modern technologies and recent amenities, high-quality law firms, and a supportive regulatory framework, Singapore is an ideal choice for commercial arbitrations.
If you are someone looking for experienced arbitration lawyers in Singapore, your one-stop solution is Sreenivasan Chambers LLC. Check out their law firm and choose the faster way to resolve disputes.