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International Arbitration

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Lynch Connection

on 20 September 2013

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Transcript of International Arbitration

Arbitration vs. Litigation
Arbitration is the preferred method of dispute resolution for cross border transactions
Growth in Arbitration Internationally
Lawyers and Arbitration
Firms with a strong reputation in dispute resolution are increasingly content to operate under a Project Management Arrangement where they provide legal advice whilst another firm provides the more routine legal processes

Arbitration vs. Litigation
Arbitration vs. Litigation
Referrals to arbitration have continued to increase yearly for cross-border disputes since 2005 with the exception of 2010, after very high rise in 2009
Arbitration vs. Litigation
Areas most commonly referred to arbitration are commercial disputes, maritime, trade, construction, energy, mining and insurance
A number of arbitration centres that have been recently opened and centres are becoming more competitive be the preferred chosen seat
Popularity of Arbitration Centres
International Arbitration
Arbitration in Singapore
Through the Singapore International Arbitration Centre (SIAC), the Singapore Chamber of Maritime Arbitration (SCMA) and the WIPO office, Singapore as a seat for arbitration continues to gain popularity due to its location, commercial culture, expertise and cost
Arbitration in Singapore
SIAC recently opened an office in Mumbai
Cases involving at least one Indian party filed at SIAC has gown significantly in recent years

Arbitration in Singapore
SCMA arbitrates 40% of the maritime disputes around the world

WIPO (IP Arbitrator) has an office in Singapore
Arbitration in Singapore
Singapore law has increased as a choice of governing law for contracts involving an Asian party
International arbitration - benefits
Perceived benefits of arbitration:

International arbitration - benefits
International arbitration - reservations
Perceived disadvantages of arbitration:
Not always cheaper
No clear direction from private judgments
For the losing party, limited avenues for appeal
Enforcement can be challenged in some jurisdictions
Arbitration costs
The average value of disputes at Singapore are just under £7.6m
Arbitration costs
The average legal costs of arbitration internationally is £880k plus barristers fees, witness fees and management fees

Arbitration costs
The number of law firms in Singapore continues to increase and with their presence comes greater competition and opportunity to reduce legal fees
Lawyers and Arbitration
The nature of international disputes increase competition even further with many firms adapting to client pressure to engage process that reduce cost
Lawyers and Arbitration
Lawyer fee structures no longer just work off hourly rates with some firms absorbing part or all of the risk through guaranteed outcomes
Lawyers and Arbitration
Companies in similar industries can work together to gain economies-of-scale access to best-fee arrangements through a project management company (such as Lynch Connection)

Parties to arbitration should consider:
Constant review of law firm engagements and arbitration costs
Alternative methods of managing lawyers and costs in arbitration, particularly in dealing with the cross border claims

Arbitration in Singapore
SIAC has over 380 arbitrators from 39 jurisdictions
40% of the cases filed at SIAC have no connection to Singapore other than the choice of arbitration
Outside mainland China, both Hong Kong and SIAC remain preferred seats for disputes where there is a Chinese party
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