SIAC Investment Arbitration Rules
Maxwell Chambers, Singapore (CC BY-SA 2.0) via Wikimedia Commons
The Singapore International Arbitration Centre (SIAC) announced last month that its draft set of rules for investment arbitration (the draft SIAC Investment Rules), initially due to come into force on 27 May 2016, would not be published until later in the year due to the substantial feedback received from arbitration practitioners. When the new SIAC Investment Rules come into force, they will apply to disputes between commercial parties or ‘investors’, on the one hand, and states and state-owned entities, on the other, which arise under commercial agreements or investment treaties.
The draft SIAC Investment Rules are in large part based on the standard SIAC Arbitration Rules, of which a new version is expected to come into force later this month (a draft version has already been published). Thus, subject to some changes in time limits, the standard SIAC Rules regarding, among other things, submissions, applications for the early dismissal of fundamentally flawed claims (itself a new addition to the standard SIAC Rules in 2016), challenges to arbitrators, the conduct of the proceedings, the conduct of hearings and the writing of awards shall apply to investment cases. To these have been added a number of innovations and modifications designed specifically for investment arbitration, which are summarised below.
July 6, 2016
June 23, 2016
June 23, 2016
June 13, 2016