Document background
The Oral Arbitration Agreement is utilized when parties have verbally agreed to resolve disputes through arbitration but need to formalize this arrangement under Singapore law. This document becomes essential in situations where written agreements are not immediately practical or where verbal agreements need subsequent documentation. The agreement must comply with Singapore's International Arbitration Act and includes provisions for confirming the oral agreement, specifying the scope of arbitration, and establishing the arbitration process. While Singapore law generally prefers written arbitration agreements, this document provides a structured approach to documenting and enforcing oral arbitration commitments.
