Eversheds Harry Elias Litigation and Dispute Management Partner S Suressh comments in The Business Times’ Views from the Top column on Singapore Convention on Mediation, titled “A win-win option for all”. The article was first published on 9 September 2019.
A win-win option for all
THIS WEEK’S TOPIC: What is the biggest consideration for a business when seeking to resolve a commercial dispute? How will the new Singapore Convention on Mediation affect the decision?
Below is an excerpt from the article which features comments from Suressh:
S Suressh
Partner, Litigation and Dispute Management
Eversheds Harry Elias
No two cases or commercial disputes are alike, so it is impractical to generalise them. The principal factors that parties consider when resolving commercial disputes via mediation are as follows: (i) opportunity for greater personal involvement in the case; (ii) the cost savings of mediation over more traditional alternatives; (iii) mediation’s ability to better preserve relationships as it seeks to develop solutions based on mutual interests; (iv) the confidentiality of the mediation process; and (v) the mediator’s neutrality and ability to work out a solution that considers the needs and interests of all parties.
The Singapore Convention on Mediation serves two functions: it provides a framework for mediation to be recognised as a valid and serious form of dispute resolution (rather than a casual agreement); and it provides for a simpler mechanism for the enforcement of settlement agreements rather than forcing parties to sue on it.
Full article can be found here.
Source: The Business Times