Morrison & Foerster LLP (JD Supra Singapore)

Singapore Convention On Mediation Enters Into Force
On September 12, 2020, the United Nations Convention on International Settlement Agreements Resulting from Mediation (the “Singapore Convention” or the “Convention”) will enter into force. The Singapore Convention obliges contracting States to recognize and directly enforce mediated international settlement agreements. By freeing entities from the need to litigate breaches of mediated settlement
Singapore Announces Amendments To Its International Arbitration Act
On September 1, 2020, Singapore’s Ministry of Law introduced an International Arbitration (Amendment) Bill (the “Bill”) that proposes two changes to the International Arbitration Act (“IAA”), which governs the conduct of international arbitrations seated in Singapore. The first change is the addition of default processes and timeframes for appointing arbitrators in multi-party situations where...
Singapore Launches Public Consultation on Conditional Fee Agreements
At present, conditional fee agreements (CFAs) are prohibited under Singapore law, putting Singapore at a disadvantage compared to some other major arbitral seats, such as London. On August 27, 2019, Singapore’s Ministry of Law launched a public consultation to solicit feedback on proposals for legislative amendments introducing a framework permitting CFAs for international and domestic...
Newly Signed Singapore Convention to Make International Settlement Agreements Directly Enforceable in Convention States
On August 7, 2019, forty-six nations signed the Convention on International Settlement Agreements Resulting from Mediation (the “Singapore Convention”) in Singapore. Negotiated and agreed under the auspices of the United Nations Commission on International Trade Law (“UNCITRAL”), this new treaty seeks to facilitate the global enforcement of international settlement agreements that have been...
BNA v BNB: Singapore High Court Upholds Tribunal's Jurisdiction by Interpreting Agreement for "Arbitration in Shanghai" to Provide for a Singapore Seat
On July 1, 2019, the Singapore High Court handed down its anonymized decision in BNA v BNB [2019] SGHC 142 (“BNA”). The case involved an application under section 10(3) of Singapore’s International Arbitration Act (“IAA”) requesting that the High Court decide whether an arbitral tribunal had jurisdiction to adjudicate the parties’ dispute. In a decision that may have implications for similarly-dra
Singapore Considers Amendments to Its International Arbitration Act
On June 26, 2019, Singapore’s Ministry of Law (the “Ministry”) published a consultation paper seeking comments from the public on six proposals for amendments to Singapore’s International Arbitration Act (“IAA”), which governs the conduct of international arbitrations seated in Singapore. We explain below the six amendments put forward by the Ministry on June 26 for public comment.
SIAC’s Annual Report 2017: SIAC Reaching New Audiences with Introduction of Innovative Arbitration Procedures
On March 7, 2018, the Singapore International Arbitration Centre (“SIAC”) released its annual report for 2017. The highly anticipated report provided insight into the first full calendar year since the SIAC introduced the new edition of its rules on August 1, 2016.
The Monetary Authority of Singapore Clarifies Its Treatment of Token Offerings - To Regulate or Not to Regulate? – That Is No Longer the Question
In a press release issued on Tuesday, August 1, the Monetary Authority of Singapore (“MAS”) provided its most direct guidance yet on how it intends to treat “token offerings.” For those looking for concrete rules, unfortunately, the answer is “it depends,” but the message behind the statement could not have been clearer: a warning shot that a token offering may well be subject to regulation if...
Singapore International Arbitration Centre 2016 Rules Come Into Force
INTRODUCTION - The sixth edition of the Arbitration Rules of the Singapore International Arbitration Centre (“SIAC”) comes into force today, August 1, 2016 (the “SIAC Rules 2016” or the “Rules”).2 The Rules were published in July and are the result of a two-month public consultation process headed by the SIAC Secretariat and Rules Revision Committee that considered nearly 1,000 public...

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