Singapore - Baker & McKenzie International Arbitration Yearbook: 2010-2011
Timothy Cooke is a Partner in Baker & McKenzie’s Singapore office. He advises clients in litigation and international arbitration in a wide variety of commercial disputes, particularly in the areas of oil and gas, insurance and reinsurance, telecommunications, engineering and construction, banking and trusts.
Shuan Lee is an Associate in Baker & McKenzie’s Singapore office and a member of the Firm’s Global Dispute Resolution Practice Group.
Originally from Baker & McKenzie International Arbitration Yearbook 2010-2011
A. LEGISLATION, TRENDS AND TENDENCIES
Singapore has long enjoyed a reputation of being one of the leading centers for international arbitration in Southeast Asia. Both the courts and the government are committed to promoting and supporting international arbitration as an alternative meansof dispute resolution. The courts will uphold parties’ intentions to arbitrate, even where these intentions have been poorly expressed. The courts are also very reluctant to set aside arbitration awards. Similarly, the Singapore government has been proactive with legislative initiatives to promote the efficacy and efficiency of the arbitral process. One such example is the recently amended International Arbitration Act (Cap 143A) (the “IAA”), which amendments took effect on 1 January 2010.
The three key amendments to the current arbitration regime are:
• The introduction of court-ordered interim measures in support of foreign arbitrations (arbitrations that are not seated in Singapore);
• The definition of an arbitration agreement to include agreements made electronically; and
• Authentication of awards “made in Singapore” to aid enforcement of awards under the New York Convention.