Arbitration is an Alternative Dispute Resolution (ADR) that is agreed by parties involved in commercial disputes in Singapore. It allows you to bring your dispute in front of a private arbitrator, rather than a judge, to evaluate your case.
Represented an Australian company in an SIAC administered arbitration involving a commercial dispute over a Joint Venture Agreement with an Indonesian conglomerate for the mining of oil and gas in Indonesia worthUS$10,000,000.
Represented a company based in the UK in an LCIA administered arbitration involving a commercial dispute over an agreement governed by English laws for the supply of oil and gas worth S$7,000,000.
Successfully defended a listed company in India in an arbitration administered by the AAA in New York involving the supply of steel to a party in America under the Uniform Commercial Code worthUS$5,000,000.
Arbitration is often more beneficial to both parties involved because it is cheaper, faster and offers more privacy as compared to litigation. We typically advise our clients to choose arbitration when both parties:
Arbitration is especially useful if both parties reside in different countries, since either party may feel uncomfortable with the court system in another country that may have a different jurisdiction.
An arbitrator with the appropriate technical subject matter expertise can understand technical evidence and substantially shorten the time involved to conclude the outcome of the dispute.
Some clients, especially publicly listed firms, are concerned about the repercussions of news (of being sued) such as a potential drop in share price. Arbitration is preferred as it takes place in a private setting and is typically not reported in the news. Additionally, parties to the arbitration and arbitrators are obliged to maintain confidentiality of all matters relating to the arbitration proceedings.
Commercial contracts in Singapore may include provision for how disputes relating to that contract are to be resolved. In the absence of stating arbitration as a dispute resolution mechanism, the other party may not always agree to arbitrate. When dealing with such reluctant parties, commencing a lawsuit may be more effective in resolving disputes.
Arbitration may not be suitable for your dispute if the estimated value of your arbitration award is less than the cost of arbitration (such as administrative fees, arbitrators’ fees, legal costs and disbursements). Ultimately, choosing arbitration over litigation should help to limit the costs associated with resolving a dispute and obtain a result as quickly as possible.
Our law practice takes on both domestic and international abitration. Our arbitration lawyers can help you with the following arbitration proceedings:
Arbitrations can be classified as ad-hoc or institutional (arbitration conducted in accordance with a set of institutional rules selected by parties in advance). These rules can be different depending on the various arbitral institutions such as the Singapore International Arbitration Centre (SIAC).
At RBN Chambers, our commercial arbitration lawyers have represented clients in complex and high-value commercial disputes in Singapore including minority oppression and company law disputes. We have represented our clients in arbitrations administered by the Singapore International Arbitration Centre (SIAC), the London Court of International Arbitration (LCIA) and American Arbitration Association (AAA).
Table of Contents
Arbitration is a form of Alternative Dispute Resolution. Usually, arbitration as a mode to resolve a dispute is agreed to between parties before a dispute arises. An arbitrator will hear, evaluate and decide on the outcome of the dispute. An arbitrator is usually appointed by the parties in dispute.
Arbitration as form of dispute resolution is attractive because it is confidential and gives the parties in dispute the freedom to choose the process as to how the dispute is to be determined.
Generally all commercial disputes are arbitrable. However, matrimonial disputes, acts of crime cannot be arbitrated.
It depends on the complexity of the case.
Yes the awards made by the Tribunal in an arbitration are binding on the parties in dispute. The awards passed by the Tribunal are generally enforceable in most jurisdictions.