| Celebrating a Decade of Mediation: Milestones, Partnerships, and the Road Ahead |
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Dear friend of SIMC,
We celebrated our 10th Anniversary during the Singapore Convention Week with the event: "Mediation: The Next Frontier". The event was attended by 240 guests, with about 100 guests from 20 countries. We extend our heartfelt thanks to all our partners and friends for your strong support throughout our journey.
Over the past decade, we have grown, evolved and collaborated with each of you to build not only SIMC but a global mediation community across industries comprising judges, lawyers and professionals that actively promote mediation. Many of you played a vital role in our success — we are ever so grateful!
Reflecting on the past 10 years, we would like to highlight the following: - Since launching our training programs in 2018, SIMC has trained about 600 professionals across more than 15 countries, extending even to Costa Rica and Jamaica. 80% of our participants were from overseas. Several of these initiatives were in collaboration with our esteemed partners, including the US Department of Commerce, USAID, the Asia Development Bank, The Asia Foundation and various local institutions in those countries;
- Parties from 61 jurisdictions have entrusted their mediations with SIMC;
- Annual caseload filings have grown from 6 in 2014/15 to 90 in 2023.To date, we have in total more than 430 case filings, with the biggest dispute amount at USD4B. We are delighted to have maintained a 70% mediation success rate; and
- Last year, 42 MNCs and business associations from 10 countries signed the Declaration to Support Mediation, demonstrating their commitment to use mediation to resolve disputes.
Looking ahead, we see 3 areas of growth: - BRI and state-related disputes — 14 state-related disputes have been filed in SIMC, with a 83% settlement rate (2 cases are pending). We recently signed an MOU with China International Contractors Association (CHINCA), who has 1,500 members building large infrastructure projects in more than 100 countries. We look forward to working together in training and cross-referral of cases;
- Crypto-asset disputes — we have facilitated 8 such disputes, all within the last 3 years. We see tremendous opportunity as crypto-asset owners prefer mediation for its swift resolution and confidential process. As the value of crypto-assets fluctuate widely, they would rather not wait 1-2 years for a final arbitration award. This technology is so fast moving that they also need a quick resolution to be competitive and adapt to market conditions; and
- Use of AI — we introduced MAIA (Mediation AI Assistant) at our 10th Anniversary. We presented a recording of a “live demo” of an actual SIMC cross-border dispute between overseas parties with more than 800 pages of documents submitted. These documents were fully redacted to protect identities and sensitive information. We believe MAIA will be a useful tool to support mediations and will only improve over time.
While the above opportunities are exciting, SIMC will continue to focus on building connections, forging collaborations and growing a stronger international mediation community. Here is to SIMC, mediation’s next decades and the next frontier. Yours sincerely, Chuan Wee Meng CEO, SIMC |
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Please click to read more in each event |
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SEPTEMBER 23-29 BEIJING China Arbitration Week & Arbitration Summit
OCTOBER 8-15 CHILE World Summit on Business Mediation
OCTOBER 15 SINGAPORE Law Society Corporate Practice Group
OCTOBER 16 SINGAPORE Federal Circuit Bar Association Global Series
OCTOBER 24 HONG KONG AIMA APAC Annual Forum 2024
OCTOBER 28 - 1 NOVEMBER KOREA Seoul ADR Festival 2024 and 13th Asia-Pacific ADR Conference NOVEMBER 7-8 COSTA RICA Specialist Mediators' Workshop (TBC)
NOVEMBER 10-11 RIYADH 2nd International Conference on Justice
NOVEMBER 18-22 JAPAN Japan International Arbitration Week
NOVEMBER 22-24 HYDERABAD IAMC CLA Mediation Conference
DECEMBER 7-8 JAKARTA Indonesia Mediation Summit
DECEMBER 7-12 HONG KONG Hong Kong Mediation Conference |
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Meanwhile, should you have any questions, wish to refer a case for mediation, or arrange a meeting or talk on international mediation for your team or clients, simply reply to this email or contact us at marketing@simc.com.sg. |
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Follow SIMC on LinkedIn or WeChat and start a conversation with us! |
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