3i Infotech’s Singapore Subsidiary Faces Arbitration Order Over Bao Minh Insurance Project
3i Infotech Limited's wholly owned subsidiary in Singapore has received an arbitration order concerning the Bao Minh Insurance Corporation Project. The order, issued by the Vietnam International Arbitration Centre (VIAC) on April 21, 2026, relates to a dispute arising under a Software Principal Agreement.The disagreement involves the implementation of the PREMIA 11 insurance system between the Singapore Subsidiary, 3i Infotech Asia Pacific Pte Limited, and Bao Minh Insurance Corporation ("Bao Minh"). Bao Minh initiated the arbitration, alleging that the contractual agreement suffered from non-delivery of the agreed scope and functionalities, which reportedly led to project delays and non-performance.
While business operations related to the project were subsequently transferred to Azentio Software Private Limited and parts of the work were subcontracted to Nityo Infotech, the Singapore Subsidiary remains the primary contracting party under the agreement and is currently facing the arbitration process.
The order passed by the VIAC outlines several financial demands and claims against the Singapore Subsidiary.
| Detail | Amount / Type of Claim |
|---|---|
| Potential Contractual Penalty | USD 37,388.20 |
| Refund of Advance Payment | USD 333,262.57 |
| Arbitration Fees | VND 301,138,245 |
| Reimbursement (Travel/Accommodation) | VND 4,858,512 |
The company noted that while 3i Infotech Limited itself faces no immediate financial impact from the order, the Singapore Subsidiary faces the aforementioned potential liabilities.
In response to the VIAC order, the Singapore Subsidiary is evaluating its available legal remedies. The company intends to dispute the order, stating that it was passed unilaterally without providing an opportunity of being heard. Furthermore, the subsidiary plans to issue a legal notice to Azentio Software Private Limited seeking indemnification based on the Business Transfer Agreement.
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