Singapore Ministry of Law and International Chamber of Commerce sign MOU to boost arbitration

MinLaw and the ICC Court announced their collaboration at the signing of a Memorandum of Understanding (MOU)—a milestone agreement—in Singapore today. Under the terms of the MOU, MinLaw and the ICC Court will also work together to develop and promote Singapore as a seat and venue for arbitration in Asia through advancing thought leadership, developing talent and arbitration services, and undertaking joint marketing.

The MOU was signed by Han Kok Juan, Deputy Secretary of MinLaw and Alexis Mourre, President of the ICC Court, witnessed by Indranee Rajah SC, Senior Minister of State of MinLaw and Ministry of Finance and John Danilovich, Secretary-General of ICC at the 3rd ICC Asia Conference held in Singapore today.

The ICC Court, headquartered in Paris, is one of the world’s leading arbitral institutions. In 2016, it administered almost 1,000 arbitral cases from around the world. The Singapore office will be the Court’s fourth overseas case management office—after Hong Kong, New York and Brazil—giving it a peerless global footprint. The new Singapore office is expected to commence operations in the first quarter of 2018 at Maxwell Chambers. It will take up about 2,000 square feet in the new Maxwell Chambers Suites, a conserved heritage building, which will be an expansion of Maxwell Chambers when the refurbishment works are completed in 2019.

The ICC Court has welcomed the conclusion of the MOU, emphasising that the new case management team will form part of a unique international arbitration hub in Asia. Mr Mourre said: “With its two case management teams in Hong Kong and Singapore, as well as its representative office in Shanghai, the Court is now able to offer a unique international arbitration platform across the entire Asian continent”.

Singapore is a leading international dispute resolution centre.

The ICC Court is the first international arbitral institution to set up a physical case management office and team in Singapore. Ms Rajah SC said: “The ICC Court case management office will augment Singapore’s offerings and raise our hub status up one notch. It is a vote of confidence in Singapore as a base for major players to access and capture opportunities and to be part of Asia’s growth story. We also look forward to working with ICC to advance thought leadership and develop manpower talent, to deepen arbitration expertise and build up a younger generation of arbitrators and counsel through conferences and training.”

The new ICC Court case management office forms part of a growing presence for ICC in Singapore. Following the establishment of an Asia Regional Office, ICC’s first regional office outside its Paris headquarters, in 2002, ICC and IE Singapore joined forces in 2015 to establish the ICC Academy – a market-leading e-learning platform for trade and banking professionals. Both outfits are currently located at Maxwell Chambers.

Mr Danilovich said: “The MOU signed today marks an ever deepening relationship with Singapore underpinned by a common vision that private enterprise, human capital development, and the rule of law are the bedrock of successful economies and prosperous societies.”