Smc Settlement Agreement

3.6.22 Effective application of a “good faith” clause in HSBC Institutional Trust Services (Singapore) Ltd (trustee of the Starhill Global Real Estate Investment Trust Trust) against Toshin Development Singapore Pte Ltd [2012] 4 SLR 738; [2012] SGCA 48 noted the court`s willingness to accept mediation as an important adr process. VK Rajah JA considered that such a good faith agreement was valid because such clauses were in the public interest, as they favoured the consensual disposition of possible disputes consistent with the cultural values of promoting consensus whenever possible. Court-based mediation is mediation that is conducted in court by a judge or judicial official after the parties have commenced legal proceedings. Most of the court mediation is managed through the Court Dispute Resolution Mediation Programme (CDR) at the Primary Dispute Resolution Centre (CDP). Under the CDR program, either the party or its counsel can request mediation after all submissions have been filed and all interested parties consent. Once the written request for mediation has been received, PDRC will attend a mediation meeting chaired by an experienced district judge acting as a conciliation judge. 3.2.3 Mediation can be used for many purposes, including dispute resolution, conflict management, treaty negotiation, policy development and conflict prevention. 13. The parties have not entered into any additional agreements, commitments, agreements and/or conditions regarding the agreements mentioned in this agreement and none are concluded unless the parties have signed them in writing and signed by all parties.

3.6.5 It is also possible that the parties may agree to then register the terms of the transaction in the form of an approval decision. The introduction of the Singapore Mediation Act and the Singapore Convention on Mediation Act 2020, which came into force on 3 February 2020 and came into force on 12 September 2020, allows both parties to apply to the courts to hold their negotiated transaction agreement as a court order.