Arbitration
Arbitration is a process for the resolution of disputes outside the courts whereby the parties refer their differences to one or more neutral person or persons (i.e. the arbitrators or arbitral tribunal), whose decision they must agree to be bound by.
Just like court proceedings, the decisions made in arbitral proceedings are binding. However, arbitral proceedings are not open to the public, making it particularly suited for commercial disputes, especially where confidentiality is important to the parties involved. Resolving disputes through arbitration instead of going to court can also save time and money for the parties involved, as arbitral proceedings tend to be faster and more cost-efficient.
With the rising demand for international arbitration services world-wide, Singapore has implemented initiatives such as an International Arbitration Tax Incentive, Work Pass Exemption for Arbitration and Mediation services and has developed an integrated arbitration complex, Maxwell Chambers, to provide world-class hearing room facilities as well as relevant support services.
Maxwell Chambers
Maxwell Chambers is the world's first integrated dispute resolution complex housing both best-of-class hearing facilities as well as top international ADR institutions. Centrally located in the heart of Singapore's business district, it has 14 custom-designed and fully equipped hearing rooms, 12 preparation rooms and a suite of supporting services to facilitate ADR activities, conferences and other business functions.