Singapore is listed as one of the few arbitral seats in the Baltic and International Maritime Council (BIMCO) Law and Arbitration Clause, the New York Produce Exchange (NYPE) Time Charter Party 2015, and the Singapore Ship Sale Form.
The Singapore Chamber of Maritime Arbitration (SCMA) Rules are created by and for the maritime and international trading communities. They are based on a hybrid model of self-administered arbitration with optional features.
The optional features that parties may utilise are:
- Appointment of arbitrators
- Determining challenges to the appointment of the tribunal
- Fund-holding services
- Authentication of awards under the Singapore International Arbitration Act.
Specialist Maritime Rules
SCMA also maintains specialised arbitration rules to cater to the swift resolution of technical marine disputes such as the Singapore Bunker Claims Procedure (SBC Terms) for bunker quality or quantity disputes, and the SCMA Expedited Arbitral Determination of Collision Claims (SEADOCC) for collision disputes.
Freedom of Appointment
Users have complete autonomy to appoint arbitrators of their choice from SCMA’s Panel of Arbitrators or otherwise. Users frequently request the assistance of the SCMA Chairman to break a deadlock in an arbitrator appointment or determine a challenge to an arbitrator.
There are no fees payable to the SCMA to commence an SCMA arbitration. Use of SCMA’s optional services are low in comparison to administered bodies in the region. Parties are free to independently agree upon rates with their chosen arbitrator(s).
Source: SCMA website