SINGAPORE, Jan. 23 (Xinhua) -- Singapore launched the first of its kind of International Dispute Resolution Survey on Wednesday in a bid to help firms and corporations make sound strategic decisions and to facilitate dispute resolution processes.
The survey, commissioned by the Ministry of Law and conducted by the Singapore International Dispute Resolution Academy (SIDRA), targets over 1,000 corporations and 1,000 legal practitioners worldwide.
The survey aims to form a comprehensive and robust view of the methodologies that corporations employ to resolve cross-border commercial disputes, and ultimately to help both corporations and policy makers understand the needs or improvements that can be made in the area.
"We are confident that the survey findings will enrich academic and policy work on international dispute resolution, and provide practical guidance to dispute resolution users, practitioners and institutions," SIDRA's Academic Director Nadja Alexander said.
"As deals and disputes become more complex and varied, businesses need to have a more sophisticated understanding of the full suite of dispute resolution options available to them, so that they can pick the one that will best safeguard their interest," Han Kok Juan, Deputy Secretary for the Ministry of Law explained, adding that the survey is a measure to help build understanding and better meet the needs of businesses.
The preliminary results of the survey is estimated to be released later this year.