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2ASIAMARINE&OFFSHOREINDUSTRIESDIRECTORY2023/2024sectorsofthemaritimetradeandarbitrationcommunitiesPleasevisitSCMAswebsiteathttps//wwwscmaorgsg/ formoreinformationFollowingapublicconsultationin2020SCMAlaunchedthe4theditionoftheSCMAArbitrationRules(https//scmaorgsg/rules)whichappliestoarbitrationscommencingonand after1 January2022 Thekey objectiveis toensure thatdisputantsareprovided withall therequisitetoolsandguidancetoensureauserfriendlycost-effectiveandefficientresolutionofdisputesbyarbitrationWearepleasedthatSingaporehasbeenrankedalongsideLondonasthemostpreferredseatintheworldandthemostpreferredseatinAsia-Pacificinthe2021internationalarbitrationsurveybyQueenMaryUniversityofLondonandWhite&CaseSincethelaunchoftheupdatedruleswehavereceivedpositivefeedbackandwelookforwardtogreateradoptionbypartiesaswepressaheadtobetterservethecommunityandtobealeadingmaritimearbitrationcentreinAsiaThe
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arbSingaporeChamberofMaritimeArbitration(SCMA)isaspecialistarbitrationinstitutionwhichprovidesaneutralcost-effectiveandflexibleframeworkformaritimeandinternationaltradearbitrationsTheSCMAwasestablishedinNovember2004andwasmanagedbytheSingaporeInternationalArbitrationCentre(SIAC)InresponsetoindustryfeedbacktheSCMAwasreconstitutedinMay2009SCMAoffersaself-administeredmodelofarbitrationAccordinglyapartycanstartandrunthearbitrationentirelyatitsowncostwithoutincurringanyadditionalfeesIfrequiredpartiescanapproachtheSCMAsSecretariatwhoisonhandtoprovidetailoredadministrativesupporttothepartiesandthetribunalDisputantshavetheautonomytoselecttheirarbitratorseitherfromSCMAscuratedspecialistpanelofarbitratorswithtechnicalindustryandlegalexperienceorfromoutsideofthepanelMembershipoftheSCMAisopentocompaniesandindividualsfromallJusticeChaoHickTinChairmanSingaporeChamberofMaritimeArbitrationMESSAGE