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Why BizTRUST?

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  • Singapore International Commercial Court (SICC) to resolve commercial court disputes.
     

  • Part of a wider plan to position Singapore as Asia’s  dispute resolution hub that includes Singapore  International Arbitration Centre and a new Singapore  International Mediation Centre.
     

  • Meant to bolster Singapore’s position as a dispute  resolution centre due to key centre for the convergence  of legal services in Asia

Law changes to allow funding for commercial disputes

  • Two laws have been passed to enhance Singapore’s  stance as an international hub for commercial  dispute resolution.
     

  • Amongst both are the Civil Law (Amendment) bill  that enacts a framework for third-party funding in  international commercial arbitration, allowing an  additional option to finance proceedings.
     

  • The second is Mediation Bill that make settlements  more enforceable.

 

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Singapore set to be the top center for resolving commercial disputes

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