23 Jan 2019 Posted in Press releases
- The Singapore Ministry of Law (MinLaw) and the Singapore International Dispute Resolution Academy (SIDRA) launched today the ‘International Dispute Resolution Survey’ to help corporations make strategic decisions on dispute resolution options, and to inform policy makers, dispute resolution institutions, and legal service providers on the dispute resolution needs of corporations. Conducted by SIDRA and commissioned by MinLaw, the survey targets over 1,000 corporations and 1,000 legal practitioners around the world.
- The International Dispute Resolution Survey seeks to put together a comprehensive and robust understanding of how corporations resolve their cross-border commercial disputes and the reasons for their choices. It will answer questions such as why some corporations choose one dispute resolution mechanism over another and whether this varies depending on the type of transactions, the nature of disputes, the industry sectors and the geographical regions of operation.
- The first of its kind, the International Dispute Resolution Survey differs from other surveys on dispute resolution in a number of significant ways:
- It covers not only international arbitration, but also international mediation and litigation. This better reflects the full spectrum of mechanisms that corporations use to resolve disputes and their considerations in choosing one mechanism over another.
- It gathers responses not only from lawyers (the service providers) but also top corporate executives (the users). This presents a more complete picture of demand and supply and helps to identify gaps in perception and provision.
- It looks at usage rather than preferences, which is more indicative of lawyers’ and businesses’ actual decision-making processes.
- It covers a balanced geographical spread, so that it is representative of users and providers across all regions in the world.
- SIDRA’s Academic Director, Professor Nadja Alexander said, “SIDRA is thrilled to be commissioned by MinLaw to conduct the International Dispute Resolution Survey. The survey will draw on SIDRA’s wealth of experience and expertise in Asia and internationally. We are confident that the survey findings will enrich academic and policy work on international dispute resolution, and provide practical guidance to dispute resolution users, practitioners and institutions.”
- MinLaw’s Deputy Secretary, Mr Han Kok Juan said, “As deals and disputes become more complex and varied, businesses need to have a more sophisticated understanding of the full suite of dispute resolution options available to them, so that they can pick the one that will best safeguard their interest. This may differ depending on the industry sector and the region they operate in. MinLaw has commissioned the survey to help build that understanding, as part of Singapore’s effort to better meet businesses’ needs, as a thought leader and business and legal services hub.”
- Preliminary results of the survey are expected to be released later this year.
Last updated on 23 Jan 2019