Setting up a third-party funding framework is one.
The Ministry of Law (MinLaw) has submitted the Civil Law (Amendment) Bill 2016 and Mediation Bill 2016 for First Reading.
The reforms are part of on-going efforts to ensure that Singapore remains a premier international commercial dispute resolution hub.
The proposed changes under the Civil Law (Amendment) Bill 2016 will enact a framework for third-party funding in Singapore which will give businesses an additional financing option for international commercial arbitration.
The Mediation Bill 2016 supports international commercial mediation by strengthening the enforceability of mediated settlements
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