The Singapore and Chinese Courts have signed an agreement that provides clarity on the procedure for having money judgments in commercial cases heard in a Singapore court be brought before the Chinese courts, for it to be recognised and enforced.
The memorandum of guidance also paves the way for such judgments made in Chinese courts to be brought to Singapore.
The agreement was signed by Chief Justice Sundaresh Menon and his counterpart Zhou Qiang last Friday on the sidelines of the second Singapore-China Legal and Judicial Roundtable.
The Supreme Court said the agreement will be especially useful for parties who have commercial dealings with Chinese parties.
“Should a dispute arise and that dispute is adjudicated in a Singapore court, they have a clear idea of how to get any money judgments that may arise therefrom (that) can be enforced against the Chinese party in that country,” said the spokesman for the Supreme Court.
The agreement also applies to judgments made in the Singapore International Commercial Court (SICC).