SMU SIDRA Survey Report 2020

9.2.3 In addition, users also indicated that efficiency (47%), cost (47%), speed (40%) and enforceability (29%) were key considerations in their choice of a hybrid mechanism over arbitration. The SIAC-SIMC Arb-Med-Arb Protocol is an excellent example of a hybrid mechanism that addresses parties’ needs. Under the Protocol, parties have a fixed time frame of 8 weeks to reach settlement in mediation before resuming arbitration. If parties are able to reach a settlement in mediation, their mediated settlement can be recorded as a consent award. In this way, the advantages of mediation and arbitration are combined, as parties are able to enjoy the flexibility and efficiency of mediation and enforceability and finality of arbitration. Exhibit 9.2.2 Factors Influencing Choice of Hybrid Dispute Resolution Mechanism Compared to Arbitration by Respondent User Profile The charts refer to factors influencing Client Users and Legal Users’ choice of Hybrid Dispute Resolution Mechanism compared to Arbitration. Note: This question allows for multiple responses. The sum of the percentages may exceed 100% Client Users Legal Users Efficiency Efficiency Preservation of business relationship Preservation of business relationship Cost Cost Speed Speed Enforceability Enforceability Others Others 56% 52% 48% 32% 24% 12% 81% 47% 47% 45% 28% 2% 9.2.4 Preservation of business relationships was the main reason for both Client Users (56%) and Legal Users (81%) in their choice of a hybrid mechanism over standalone arbitration. Interestingly, a higher proportion of Legal Users indicated that preservation of business relationships was a key factor in their choice of a hybrid mechanism over arbitration. This may reflect their understanding of arbitration as an adversarial process, which may hinder business relationships. 2020 FINAL REPORT 74