GIFT city inks MoA with SIAC to settle disputes
The Dollar Business Bureau The Gujarat International Finance Tec-City Company Ltd., also known as GIFT city, on Thursday signed an agreement with the Singaporean International Arbitration Centre (SIAC) to settle international commercial disputes which involve Indian companies. As part of the agreement, SIAC and the Singapore International Mediation Centre (SIMC) will cooperate with the Indian companies to sort out international commercial disputes in India's International Financial Services Centre (IFSC) in GIFT city. SIAC will also establish a representative office in the IFSC-GIFT city with an idea to promote SIAC's arbitration services to its Indian users. Indian parties remained the top foreign users of SIAC in 2013 and 2015. They have also been ranked among the top five foreign users of SIAC for the last five years. "We ...
