The Singapore International Arbitration Centre (SIAC) is pleased to announce that it has entered into a Memorandum of Understanding (MOU) with the Saudi Center for Commercial Arbitration (SCCA) to promote international arbitration as a preferred method of international dispute resolution.
Under the MOU, SIAC and SCCA will jointly organize conferences, seminars, and workshops on international arbitration in Singapore and Saudi Arabia; invite key members of their local arbitration communities to attend and participate in major events organised by SIAC in Saudi Arabia or by SCCA in Singapore; and facilitate the exchange of knowledge and information between the two centres.
The terms of the MOU also contemplate that SCCA will, subject to the terms of the MOU, extend the use of SCCA’s hearing facilities at preferential rates for SIAC arbitration hearings that are held in Saudi Arabia, and SIAC will, subject to the terms of the MOU, assist to request the use of hearing facilities in Maxwell Chambers at preferential rates for SCCA arbitration hearings that are held in Singapore.
The MOU was signed today in Riyadh during the SCCA 3rd International Conference and Exhibition. Ms Gloria Lim, Chief Executive Officer, signed the MOU on behalf of SIAC, and Dr Hamed Merah, Chief Executive Officer, signed on behalf of SCCA.
Ms Lim is in Riyadh with the President of the SIAC Court of Arbitration, Ms Lucy Reed, for Riyadh International Disputes Week where SIAC is hosting two events titled From Riyadh to Singapore: Supporting Growth Through Effective Dispute Resolution (jointly hosted with the Singapore International Commercial Court and the Singapore International Mediation Centre) and The Art of Cross-Examination (jointly hosted with YSIAC).
The Press Release may be read in full here.