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Does the SMA offer non-binding “Alternative Dispute Resolution” (ADR)?

April 26, 2017adr alternative dispute resolution non-binding Offer SMA

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Does the SMA offer non-binding “Alternative Dispute Resolution” (ADR)?

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The SMA has promulgated Conciliation Rules which were developed in 1988 following the UNCITRAL Model. Conciliation, or mediation, both of which are non-binding, can be useful in resolving all or a part of outstanding disputes while still keeping long-term business relationships intact. In 1999, the SMA has introduced Rules for Mediation.