A new multimillion-dollar airport was built, but the builders were unhappy.
The main builder, an Asian construction company, had held back payments to its subcontractor, a Chinese state-owned enterprise, because the latter could not meet the terms of the contract due to unforeseen circumstances.
After a two-year stalemate, representatives of both companies flew to Singapore, sat down in the presence of a mediator and, within a day, shook hands on a payment arrangement that satisfied both sides.
"If you want to carry on with business, then each side has to give and take," said Mr George Lim, the Singaporean mediator for the airport project.
"You suffer a bit, I suffer a bit, we carry on, and maybe in the next project, we make more together." Mr Lim chairs the Singapore International Mediation Centre (SIMC), a non-profit organisation that is part of Singapore's efforts to position itself as a hub for dispute resolution.
He is proud of his 75 per cent success rate when it comes to resolving disputes through mediation.
Denne historien er fra August 29, 2024-utgaven av The Straits Times.
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Denne historien er fra August 29, 2024-utgaven av The Straits Times.
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