ICDR And SIAC Open Office In Singapore

Source : The Business Times, October 18, 2007

WITH businesses around the world increasingly looking to settle their disputes by arbitration rather than in public courtroom battles, the American Arbitration Association (AAA) yesterday opened an office in Singapore - its first in Asia.

The arrival of this leading institution will be a boost for law firms based here, industry players say.

The new office, located at City Hall, is a joint venture between AAA's international arm, the International Centre for Dispute Resolution (ICDR), and the Singapore International Arbitration Centre (SIAC).

SIAC deputy chairman Lawrence Boo said: 'There will be new opportunities for law firms based here and in the region.' This is because foreign companies in Asia which choose to have an ICDR arbitration are likely to choose to hold the hearing in Singapore - where the ICDR office is based - and thus are more likely to use law firms based here.

ICDR senior vice-president Richard Naimark said: 'This is a major step towards the establishment of Singapore as a leading arbitration centre in Asia.'

ICDR is responsible for the administration of all AAA international cases. It said that it saw its Asian caseload increase by 35 per cent last year, from 88 cases in 2005 to 119 last year. The ICDR also has offices in New York, Mexico City and Dublin.

On why the ICDR chose Singapore as its first office in Asia, John Townsend, who chairs the executive committee of AAA's board of directors, said: 'Singapore is the pre-eminent legal and business centre in this part of the world.' He said that while Hong Kong is close to China, Singapore is preferred because of its reach to Asia as a whole.

Jun Bautista has been appointed as the director of ICDR Singapore. He previously was an associate in a law firm in the Philippines and served as a law clerk in the Supreme Court of the Philippines.

Mr Boo of SIAC said: 'We hope to further reach out to US companies doing business in Asia. Outside the Asian region, US parties continue to be the largest user of SIAC arbitration and I am confident that ICDR Singapore will enhance the use of institutional arbitration in Singapore.'