The MoU between SCMA and ICS Singapore seeks to provide a framework between both organisations to achieve a sustainable, long-term relationship and permanent association.
The M0U was signed on 6 November, by Justice Chao Hick Tin, chairman of SCMA, and Subhangshu Dutt, chairman of ICS Singapore. Under the agreement the chairman of ICS Singapore will automatically become a member of SCMA’s Local Users Council and the executive director of SCMA will automatically be an observer on the Executive Council (EXCO) of ICS Singapore.
The SCMA is seeking to broaden its base into the wider commercial maritime community in Singapore.
“ICS can play a major role in enhancing awareness of dispute resolution processes and clauses among the commercial maritime community and SCMA will provide a legal perspective in order to create the ideal blend of legal & commercial knowledge for the maritime community,” said Justice Chao.
Dutt from ICS commented: “Our members represent the commercial shipping industry and arbitration process, while unlikely, remains a possibility in every contract. This partnership will help build a sense of comfort and acceptance amongst our members that the arbitration process is just another viable and acceptable alternative for dispute resolution.”