Why a Panel of Experts?
As cross-border commercial disputes become more complex, technical questions may arise that need to be dealt with in order for the parties to arrive at a mediated settlement. Such questions may include the mode of valuation of certain assets, reasonable market practice, as well as remedies and arrangements unique to particular sectors.
To facilitate the mediation process for such complex commercial disputes, SIMC has set up a panel of eminent technical experts, comprising independent consultants and key personnel of well-established companies from diverse sectors of industry. All of them are highly regarded in their area of industry.
If the parties wish to appoint a technical expert to assist in the mediation process, they may consider doing so from SIMC’s panel. It is generally expected that the expert will not act as an adjudicator or a co-mediator, but may assist in providing a neutral and objective perspective to assist the mediator in the conduct of the mediation.
SIMC can, in consultation with the mediator, provide assistance to the parties in their choice and appointment of a suitable technical expert.
Appointing Authority Service
SIMC is able to serve as an appointing authority for mediators or experts on an ad hoc basis, i.e. in cases not administered in accordance with the SIMC Mediation Rules, in accordance with the agreement between the parties.
The appointing authority service is governed by SIMC Practice Note 01/2016 issued on 1 May 2016.
Parties wishing to use SIMC’s appointing authority service may submit a request along with the requisite appointment fee as follows:
- One (1) mediator or expert – S$2,000 per party
Professional Recommendation Service
Parties who wish to appoint a mediator/expert can seek SIMC’s recommendations. Within 24 hours of engaging SIMC’s Recommendation Service (RS), SIMC will provide parties with a shortlist of the three most suitable candidates for their needs.
Depending on the complexity of the case and profile of the mediators/experts, a S$800 to S$2,000 fee applies for the RS. If parties subsequently agree to proceed with mediation at SIMC, the RS fee would be credited and offset from the case filing and management fees.