In an arbitration, the arbitrator looks into the legal rights and wrongs of a dispute and makes a decision. Once the arbitrator has arrived at a decision, it is binding on parties whether they agree with it or not. It is very much like the way a court case is decided by a judge, except that the process does not take place in a court room, and it is not open to the public. As in a court case, there is usually a winning and a losing party in an arbitration.

In a mediation, the mediator, essentially, helps parties to settle their disputes by a process of discussion and narrowing differences. The mediator helps the parties to arrive at an agreed solution. He does not decide the dispute. A successful mediation results in an agreement signed by the parties, whereas a contested arbitration results in a decision by the arbitrator himself without the agreement of the parties. In a mediation, there is no such thing as a winning or losing party, because there is no binding decision without both parties agreeing to one.

The Singapore International Arbitration Centre handles arbitration cases in Singapore. Mediation is managed by the Singapore Mediation Centre.

Arbitration is a less formal procedure than court litigation, and it is conducted in private, away from the glare of the media and the public. Parties are free to appoint their own arbitrators and can chose more practical procedures and rules for the conduct of an arbitration. Arbitration awards are final and binding, and have extra-territorial enforceability in over 120 countries under the New York Convention. Generally, arbitration can also be more cost-efficient and speedier than court litigation.

Yes, they are separate and distinct organisations. SIAC is an arbitral institution that offers a neutral and independent venue in which parties can resolve their disputes. It provides institutional support for the conduct of arbitration. Among other things, this includes the appointment of arbitrators, the financial management of the arbitration, case management and arranging for hearing facilities and all other matters which facilitate the smooth conduct of the arbitration.

SIArb is an institution that caters to the training needs of arbitrators. SIAC works closely with SIArb by lending resources to conduct some of its training modules.

With the exception of criminal and family law matters, almost any civil case you can take to court, you can resolve by arbitration at SIAC.

Arbitration is a consensual process; both parties will have to agree to submit the dispute to arbitration. As a first step, parties should check their agreement to find out if there is an arbitration clause. Even if there is none, parties can still agree to submit the dispute to arbitration. This post-dispute agreement should be in writing. Once either step is fulfilled, a Notice of Arbitration has to be filed with the Registrar of SIAC.

There are three main components to bear in mind - the administration fee, the arbitrator's fee and the lawyers' fee.

The administration fee is pegged to the quantum of the claim, or the counterclaim if any.

The arbitrators' fee is similarly pegged to the quantum in dispute.

Lawyers' fees are negotiated, fixed and borne directly by the parties. Click here to view The Law Society of Singapore Directory to search for a lawyer in Singapore.

The place of arbitration (also commonly referred to as the 'seat of arbitration') determines the governing procedural law of the arbitration and the enforceability of the award. The place of hearing, on the other hand, is the physical location where the hearing is held. This may be different from the place or seat of arbitration.

SIAC has a panel comprising legal and industry experts, in a broad range of subject areas. While SIAC's panel of arbitrators have been carefully constructed to bring the best arbitrators together for the convenience of parties arbitrating under the auspices of SIAC, parties are free to appoint other arbitrators.