Singapore – a trusted neutral venue for resolving cross-border disputes
Asia has grown in prominence as a choice destination for international trade and investment, with Singapore well-positioned as a trusted neutral venue for resolving cross-border disputes in the region. Its legal ecosystem enjoys strong political and judicial support, with policies geared to liberalising legal services and strengthening legislative frameworks being rolled out.
Singapore has built a fair, respected and efficient legal system grounded by the rule of law, ranking 12th of 128 countries in the World Justice Project Rule of Law Index for 2020, and topping the region for absence of corruption, order and security, regulatory enforcement, civil justice and criminal justice. All of these foster a robust environ- ment for the protection and enforcement of commercial rights. This has been recognised in the World Bank’s 2020 Doing Business report, where Singapore topped the rankings of 190 economies for the ease of enforcing contracts.
Singapore law has been increasingly accepted, and in a survey in 2019 commissioned by the Singapore Academy of Law, Singapore law was found to be the second most adopted governing law in cross-border transactions in Asia, after English law. The Lion City also tied with London as most popular seat of arbitration worldwide in White & Case’s 2021 International Arbitration Survey.
Singapore’s legal ecosystem enjoys strong political and judicial support, with policies geared to liberalising legal services and strengthening legislative frameworks being rolled out. Singapore’s world-class judiciary has also been augmented by eminent international jurists from both civil law and common law traditions onto the Singapore International Commercial Court’s (SICC) bench. As a result, Singapore has attracted legal talent, including commercially experienced counsel and a growing number of distinguished arbitration and mediation practitioners. read more
Source: Una Khng | Helmsman Singapore