Singapore International Arbitration Centre

The Singapore International Arbitration Centre ("SIAC") is an independent, not-for-profit organisation that meets the demands of the international business community for a neutral, efficient and reliable dispute resolution institution in fast-developing Asia. Established in 1991, SIAC has administered over 1,000 cases involving parties from the Americas, Europe, Asia and many other parts of the world. Over 80% of these cases are international in nature.

SIAC administers arbitrations under its own rules, and where parties so agree, under the UNCITRAL Arbitration Rules. SIAC also appoints arbitrators for ad hoc arbitration - as appointing authority designated by the parties; by request of the Permanent Court of Arbitration at the Hague or other international arbitration institutions; and as appointing authority under Singapore・s International Arbitration Act and (domestic) Arbitration Act.

As an institution administering arbitrations, SIAC provides the following institutional support and services:

• Appointment of arbitrator(s), including negotiating and fixing terms of appointment of arbitrator(s)
• Management of financial matters according to published transparent guidelines
• Advising arbitrators and parties on arbitral procedures
• Monitoring and supervising the progress of the arbitration
• Scrutiny of awards for procedural compliance
• Executing all the duties and functions which the Deputy Chairman, the Registrar and other officers of SIAC are required to carry out under its arbitration rules, e.g. the removal and reappointment of arbitrators
• Arranging all the logistics, facilities and services for hearings

The SIAC Rules 2007 are effective from 1 July 2007. When arbitrating at the SIAC, parties are also able to know with certainly the costs involved in the arbitration, which includes SIAC administration fees and the arbitrator・s fees. Both these fees are based on a transparent, published quantum scale. Lawyer・s fees are negotiated and borne directly by the parties.

Functions / Activities / Services

New SIAC Rules 2007 & Schedule of Fees

Exactly 10 years after the publication of the second edition of its arbitration rules, the Singapore International Arbitration Centre (：SIAC；) announces the release of its new SIAC Rules 2007 (：2007 Rules；). This will come into effect on 1 July 2007.

SIAC has been an active player in the international arbitration arena over the last few years. With the benefit of extensive experience in case administration and a year-long public consultation period, the SIAC Rules 2007 is an embodiment of improved efficiency and best practices in institutional arbitration for the resolution of international commercial disputes.

The amendments do not alter the basic system of SIAC arbitration. The language in the 2007 Rules has been simplified and provisions rearranged for enhanced clarity. Provisions have also been introduced to streamline the 2007 Rules with SIAC・s current case administration practice. The significant changes in the 2007 Rules are summarised as follows:

1. SIAC・s role as appointing authority is clarified in Rule 5, whether arbitrators are party appointed, party nominated, agreed to by parties, or nominated or appointed by any third person. In all cases, an arbitrator is not deemed to be appointed until confirmed by the Chairman of SIAC.

2. SIAC・s function as the institutional administrator of cases is further entrenched. In the 2007 Rules, the Registrar is vested with power to extend time in Rules 17.2 (for completion of Memorandum of Issues), 27.1 (submission of draft award to the SIAC) and 28.4 (correction of awards and additional awards). Additionally, the Tribunal is required to submit its draft award for scrutiny and issuance through the SIAC.

3. The concept of Memorandum of Issues is introduced in Rule 17. This requires parties and the Tribunal to define the scope of reference for determination in the award within 45 days following the completion of case statements.

4. The use of comprehensive Practice Notes is formalized in the 2007 Rules. SIAC・s Practice Notes regulate, in detail, the appointment of the arbitrator and the financial management of arbitration, which includes fixing the fees and terms of appointment of the arbitrator. The 2007 Rules further provide for these Practice Notes to be issued from time to time for the purpose of facilitating the administration of arbitrations.

5. The domestic rules, SIAC Domestic Arbitration Rules, Second Edition, 1 September 2002 with the exception of its summary arbitration procedure, is repealed. All cases submitted or referred to the SIAC under its rules of arbitration will be henceforth be deemed to be an arbitration reference under the 2007 Rules.

In tandem with the release of the 2007 Rules, a new Schedule of Fees has also been published covering administration fees, arbitrators・ remuneration and appointments fees. The new Schedule primarily signifies a change in the manner in which arbitrators will be remunerated. The hourly rated practice will be replaced by an objective and transparent measure of fees based on the sum in dispute. Thus parties will know up front, the range that they may expect to pay the arbitrator appointed for their arbitration.

The 2007 Rules and Schedule of Fees are posted on the SIAC website at <www.siac.org.sg>.

Contact Details

Website

www.siac.org.sg