GIFT City signs pact with Singapore Arbitration Centre – Feedback

The Gujarat International Finance Tec-City Company Limited, popularly known as GIFT city, today entered into an agreement with a Singaporean arbitration centre to resolve international commercial disputes involving Indian companies.

Under the memorandum of agreement, GIFT city, GIFT SEZ and Singapore International Arbitration Centre (SIAC) will collaborate to promote the use of arbitration, mediation, and other dispute resolution mechanisms, including the innovativeArb-Med-Arb service – a process where a dispute is first referred to arbitration before mediation is attempted. According to the MoA, SIAC and the Singapore International Mediation Centre (SIMC) will collaborate with the Indian companies to resolve international commercial disputes in India’s International Financial Services Centre in Gujarat International Finance Tec-City (IFSC-GIFT). SIAC will establish a representative office in the IFSC-GIFT, which will be instrumental in promoting SIAC’s arbitration services to Indian users.

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