JIMC AND SIMC LAUNCH JOINT MEDIATION PROTOCOL TO HELP CROSS-BORDER BUSINESSES RESOLVE DISPUTES SWIFTLY AND INEXPENSIVELY
The Japan International Mediation Center (JIMC) and Singapore International Mediation Centre (SIMC) on 12 September 2020 signed a Memorandum of Understanding to operate a joint protocol that provides cross-border businesses, including companies along the Japan-Singapore corridor, with an economical, expedited and effective route for resolving commercial disputes amid the COVID-19 pandemic.
The JIMC-SIMC Joint Protocol is thought to be the first joint online mediation protocol between two international dispute resolution centres committed to providing expedited mediation during the pandemic. It is SIMC’s first such collaboration with an overseas mediation centre, following the SIMC Covid-19 Protocol which was launched in May.
The Covid-19 pandemic has disrupted the performance of contractual obligations, supply chains and other aspects of commerce, resulting in differences and disputes between businesses around the world. Mediation helps parties to resolve their disputes in an expeditious, economical and effective manner without being engaged in protracted legal proceedings. Mediation also preserves relationships as the disputes are resolved amicably, with parties free to adopt commercially driven solutions that are flexible and creative. Users that consider mediation as their first port-of-call are therefore in a better position to recover from the wide-ranging impact of the pandemic.
The coming into force of the Singapore Convention on Mediation on 12 September also allows parties to enforce settlement agreements in the jurisdictions that have ratified the Convention, including Singapore. The United Nations trade treaty underscores the role of mediation as an important tool that companies can deploy to resolve their cross-border disputes.
Given the international impact of the
pandemic, The JIMC-SIMC Joint Protocol supports the commitment to further strengthen economic
resilience amid the problems caused by the Covid-19 pandemic.The Joint
Protocol was formally launched later this year at an event
marking JIMC’s 2nd year
anniversary on 20 November.
【Webinar】 INVESTOR-STATE MEDIATION 24/25 JUNE 2021