Hague CAA and SIMC Enable Aviation Dispute Mediation in Singapore

The Hague Court of Arbitration for Aviation (Hague CAA) and the Singapore International Mediation Centre (SIMC) have agreed to enable aviation dispute mediation in Singapore. This was announced during the Singapore Airshow, which is taking place next to Singapore Changi International Airport at the Changi Exhibition Centre.

As institutions for dispute resolution outside of court, they will jointly establish a mediation framework specialized for the aviation industry, a first in Asia. Mediation offers a quicker resolution compared to litigation or arbitration, and it is also cost-effective. About 90% of mediations conducted at the Singapore International Mediation Centre are concluded within a day, with a settlement rate exceeding 70%.

Until now, Asian companies dealing with aviation disputes had to travel to The Hague for mediation. Singapore is one of Asia’s largest aviation markets, with over 130 aerospace-related companies established there. Representatives from the Singapore Economic Development Board and the Aerospace Industry Association were also present at the signing of the memorandum.

This article was generated using automatic translation by GPT-4 API.
The translation may not be accurate.