A dispute arose between the parties regarding the payment of royalties under their license agreement. As a result, the inventor filed a Request for Arbitration and Statement of Claim with the Center requesting a declaration that his patents had been infringed.
The city-state has emerged as a both regional and global arbitration and dispute resolution hub in a short period of time. Alongside London, Singapore is the top arbitration venue in the world.
Arbitration is an increasingly popular alternative to traditional court proceedings, particularly in disputes relating to property and financial matters.
France, the United Kingdom, Switzerland, the United States and Brazil remained the top five seats of arbitration. In total, arbitrations were seated in 116 cities across 63 countries. In 2023, the five most frequently selected cities remained Paris, London, Geneva, New York and Singapore.
Within the United States, New York, Miami and Houston have emerged as the most popular arbitral seats.
The five most preferred seats for arbitration are London, Singapore, Hong Kong, Paris and Geneva.
Always get straight to the merits without berating the other side or whining about how badly it has treated you. Another threat to your credibility is the “kitchen sink” arbitration demand or a response that includes numerous claims or defenses that have little chance of succeeding.
For example, if an investor files a claim against his or her broker for $38,000, the panel may decide in the investor's favor, but only award $10,000. Arbitration decisions are binding and not subject to appeal, except under very limited circumstances.
To take one example, the Red Sea Islands Arbitration between Eritrea and Yemen was aimed at settling competing claims to some uninhabited rocks in the Red Sea.
Hearing Stage: Parties present their case through a process that may be in-person, over the phone, or document-based, depending on the arbitration rules and agreement. Additional written arguments may also be submitted post-hearing. Award Stage: The arbitrator closes the hearing once all evidence is submitted.