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Singapore arbitration centre opens office in Gujarat

Press Trust of India  |  Singapore 

The International Arbitration Centre (SIAC) has opened an office in the International Financial Services Centre, Tec-City (GIFT IFSC) in

According to SIAC, it is the second representative office in after the one, which was established in 2013.

SIAC, International Tec-City Company Ltd (GIFTCL) and GIFT had signed a memorandum of agreement last year.

Lim Seok Hui, SIAC chief executive, said: "SIAC greatly values its Indian users who have contributed significantly to the success of SIAC as one of the world's arbitral institutions."

Pandey, MD and group CEO of GIFTCL, said, "We believe SIAC will provide a neutral and independent dispute resolution platform to parties, enabling them to undertake large international financial transactions from GIFT IFSC."

GIFT companies will also start adopting SIAC's model clause as their preferred dispute resolution clause for international contracts exceeding a certain value.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, August 10 2017. 18:02 IST