Proposed Draft SIAC Rules (7th Edition) and Other Arbitration Rules
Written By
On 22 August 2023, the Singapore International Arbitration Centre (SIAC) announced the release of the public consultation period for the Draft 7th Edition of the SIAC Rules (Draft Rules) which is set to conclude on 21 November 2o23. The Draft Rules propose significant reforms to the current SIAC Rules (2016), which since their introduction, have governed upwards of 3,000 international cases involving parties from 106 jurisdictions across a range of seats and governing laws. As put by SIAC, the Draft Rules aim to enhance the user experience and raise the bar on efficiency, expedition and cost effectiveness. Some of the key practical changes include:
- Increasing the existing claims cap on the Expedited Procedure from SGD$6 million to SGD 10 million thereby increasing the range of users and types of disputes that may be able to utilise the benefits of time and cost associated with the Expedited Procedure.
- The Introduction of a new Streamlined Procedure for claims not exceeding SGD$1 million which will allow eligible users to agree to have their claims heard by a sole arbitrator with a final award issued within a 3 month period from the date of the constitution of the tribunal.
- The Introduction of Preliminary Determination, which will allow parties to apply for a Preliminary Determination of issues to facilitate cost and time saving benefits. There will be a 45-day deadline on the tribunal to provide a decision from the date of filing of an application for preliminary determination.
- The introduction of a SIAC Gateway, which is a newly developed electronic case and document management system hosted by SIAC that mirrors court practices across other major jurisdictions and allow case documents to be centralised for clarity and accessibility.
Overall, the reforms represent a major step forward in enhancing user experience, particularly in terms of embracing the use of online platforms and facilitating electronic case management. By way of comparison, we have created the below table which sets out the changes proposed in the Draft Rules, against the current SIAC Rules (2016), and various rules currently in place across other major arbitral institutions.
With the public consultation period on the Draft Rules closing this month on 21 November 2023, supporters, users, and stakeholders are strongly encouraged to submit feedback on the Draft Rules. Comments can be submitted via email to rulesconsult2023@siac.org.sg and kevinnash@siac.org.sg, or through the SIAC website directly.
| PROPOSED DRAFT SINGAPORE INTERNATIONAL ARBITRATION CENTRE (SIAC) RULES (Draft 7th Edition) |
CURRENT SIAC RULES (2016) |
INTERNATIONAL CHAMBER OF COMMERCE (ICC) RULES (2021) | LONDON COURT OF INTERNATIONAL ARBITRATION (LCIA) RULES (2020) | HONG KONG INTERNATIONAL ARBITRATION CENTRE (HKIAC) RULES (2018) | AUSTRALIAN CENTRE FOR INTERNATIONAL COMMERCIAL ARBITRATION (ACICA) RULES (2021) |
|
Introduction of the Streamlined Procedure
Rule 13 and Sch 2
According to the procedures stipulated in sch 2, a sole arbitrator will be nominated either by the parties or the SIAC President within three days and a final award will be rendered within three months from the date of the constitution of the tribunal. |
n/a | n/a | n/a | n/a | n/a |
|
Broadened the availability of the Expedited Procedure The Expedited Procedure is available where:
A sole arbitrator will be nominated either by the parties or the SIAC President and a final award will be rendered within six months from the date of the constitution of the tribunal. |
Rule 5 The Expedited Procedure is available where:
A sole arbitrator will be nominated either by the parties or the SIAC President and a final award will be rendered within six months from the date of the constitution of the tribunal. |
Article 30 The Expedited Procedure is available where:
A sole arbitrator will be nominated either by the parties or the ICC Court and a final award will be rendered within six months from the date of the constitution of the tribunal. *This amount applies if the arbitration agreement was concluded on or after 1 March 2017, and before 1 January 2021. **This amount applies if the arbitration agreement was concluded on or after 1 January 2021. |
Articles 9A The Expedited Procedure is available “in the case of exceptional urgency”. |
Article 42 (see also Expedited HKIAC Arbitration) The Expedited Procedure is available where:
|
Full article available on Disputes +
Latest insights
More Insights
Stopped in its tracks: the Environment Agency's application under section 44 of the Arbitration Act 1996 to preserve 'assets' from HS2 earthworks is derailed by the TCC
Oct 14 2024
New UK Government announces intention to continue with reforms to Arbitration Act 1996 and publishes text of new Bill
Jul 25 2024