The Singapore International Arbitration Centre ("SIAC") has established itself as a leading arbitral institution, highly regarded by international parties, particularly in Europe and Asia. Operating from its headquarters in Singapore, with representative offices in China, India, the USA and Korea, SIAC continues to enhance its global presence. In this article we explore SIAC’s remarkable growth, its evolving arbitration rules and its global impact, highlighting the institution’s role in shaping the future of international arbitration.
A Brief History
Established in 1991 as an independent and not-for-profit organisation, SIAC has earned a strong reputation for integrity and procedural excellence, establishing itself as one of Asia's leading arbitral institutions. Its commitment to innovation and efficiency has solidified its role as a trusted partner in the global arbitral landscape. SIAC arbitral awards are enforceable worldwide in accordance with the New York Convention 1958.
Rules
SIAC has its own arbitration rules, with the most recent version having taken effect on 1 January 2025. These updates were designed to enhance the efficiency and flexibility of the arbitration process. SIAC offers an Expedited Procedure for disputes involving amounts up to USD 7.3 million, as well as a Streamlined Procedure for disputes under USD 750,000.
The Streamlined Procedure aims to provide swift dispute resolution with a sole arbitrator, no mandatory hearing and a default virtual hearing option, if one occurs. The arbitrator must issue an award within three months of the tribunal’s formation.
SIAC also administers arbitrations under UNCITRAL Rules and handles ad hoc arbitrations.
The SIAC Rules provide a state-of-the-art procedural framework for efficient, expert and enforceable resolution of international disputes of all sizes and complexities involving parties from diverse legal systems and cultures.
Arbitrators
SIAC includes a panel of over 600 independent, neutral arbitrators from more than 40 countries, ensuring a broad range of expertise and cultural understanding. The panel members possess specialised knowledge in their respective fields and SIAC maintains strict standards for admission to minimise challenges to awards. SIAC’s panel has over 100 experienced arbitrators in the areas of energy, engineering, procurement and construction from more than 25 jurisdictions.
SIAC appoints arbitrators where the parties are unable to agree between themselves. Appointments are made on the basis of SIAC’s specialist knowledge of the arbitrators’ expertise, attributes and track records, minimising the risk of challenges and delay.
Click here to view SIAC’s panel of arbitrators.
Distinctive Features
SIAC is registered as a Permanent Arbitral Institution under Russia’s Federal Law on Arbitration, making it authorised to administer international commercial arbitrations for cases seated in Russia.
Costs
The costs associated with SIAC arbitrations include a non-refundable filing fee, an administration fee and the arbitrators’ fees. For Singapore-based parties, the filing fee is S$3,270 (approximately US$2,550), while for overseas parties it is reduced to S$3,000 (approximately US$2,340). The administration fee is based on the value of the dispute, starting at a minimum of S$5,000 (approximately US$3,900) and rising incrementally up to a maximum of S$150,000 (approximately US$117,100).
Arbitrators’ fees are also determined by the dispute value, ranging from S$5,000 to a maximum of S$2 million (approximately US$3,900 to US$1,561,400). SIAC provides a full schedule of fees on its website, along with a useful fee calculator to help estimate costs.
Conclusion
SIAC's continued growth and innovation highlight its pivotal role in the global arbitral landscape. With an expanded panel of internationally recognised arbitrators, a commitment to efficiency through streamlined procedures and a global presence in key markets, SIAC remains a top choice for arbitration worldwide.
The recent updates to its rules and cost structures further strengthen its position, ensuring SIAC is not only meeting the evolving demands of global businesses but is also setting new standards. As international arbitration continues to evolve, SIAC is well-positioned to remain at the forefront of dispute resolution, offering reliable and effective services to a diverse range of parties.