Singapore International Arbitration Centre

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[edit] General Information

  • Official name: Singapore International Arbitration Centre
  • Country: Singapore
  • City: Singapore
  • Type of organization: Non-profit organization
  • Date of creation: 1991
  • Interests: Arbitration - ADR
  • Fields of expertise: International Commercial Disputes

[edit] Description

SIAC, an independent, not-for-profit organisation, was established in 1991 to meet the demands of the international business community for a neutral, efficient and reliable dispute resolution institution in a fast-developing Asia.

SIAC's operations are overseen by a Board of Directors that comprises luminaries in the international arbitration arena.

As an institution administering arbitration, SIAC is committed to complete impartiality and transparency in all that it does for parties. Broadly, it helps parties in:

  • Appointment of arbitrators when they cannot agree on an appointment
  • Management of the financial and other practical aspects of arbitration
  • Facilitation of the smooth progress of arbitration

SIAC carries out these responsibilities according to its published guidelines in its Code of Practice. SIAC seeks to promote the highest standard of conduct and delivery in all arbitrations conducted under its auspices.

With a multinational and multi-cultural professional secretariat, SIAC is devoted to serving all its users with a complete understanding of their needs.

[edit] Arbitration in Singapore

  • An independent neutral third-country venue currently rated at number 3 in world for neutrality in the Corruption Perceptions Index.
  • A strong multicultural society, with excellent legal and technological expertise as well as language fluency.
  • A central location in Southeast Asia with 4,000 scheduled flights a week to 185 cities.
  • An open economy and business environment that is host to over 7,000 multinational firms.
  • The UNCITRAL Model Law is the cornerstone of Singapore's legislation on international commercial arbitration which is regularly updated to incorporate internationally accepted codes and rules for arbitration.
  • A party to the 1958 New York Convention (on enforcement of arbitration awards). Singapore arbitration awards are enforceable in over 140 countries worldwide.
  • A strong tradition of the rule of law, supported by a highly skilled judiciary that receives top rankings in international surveys.
  • The Courts offer maximum judicial support of arbitration and minimum intervention granting parties full and consistent support in the conduct of international arbitration.
  • Parties have a freedom of choice of counsel in arbitration proceedings regardless of nationality.
  • There is no restriction on foreign law firms engaging in and advising on arbitration in Singapore.
  • Non–residents do not require work permits to carry out arbitration services in Singapore.
  • There are excellent facilities and services to support the conduct of arbitration at Maxwell Chambers Asia’s largest integrated dispute resolution complex with state of the art hearing facilities.
  • Lower costs than in almost any other major centre of arbitration.

[edit] Code of Practice

SIAC promotes best practices in arbitration by applying published transparent guidelines contained in its Practice Notes.

There are two sets of Practice Notes governing administered cases and UNCITRAL cases. Each sets out when and how it applies, and SIAC’s role in the appointment of arbitrators and the financial management of the arbitration.

A Code of Ethics has also been developed and arbitrators appointed by the SIAC are required to abide by it at times.

[edit] Facts and Figures

Singapore is a vibrant centre for Alternative Dispute Resolution processes. After a quarter of a century of development, building up an arbitration-friendly environment and capabilities, Singapore has grown to be the venue of first choice for international businesses when it comes to resolving disputes in a neutral third country in Asia.

Singapore hosts arbitrations of all kinds. Covering a whole range of subject matters, some are administered by institutions, such as the Singapore International Arbitration Centre and the Paris-based International Chamber of Commerce. Many more are managed by the parties themselves — ad hoc arbitration and arbitration according to UNCITRAL Rules.

More and more parties from abroad choose Singapore, not because their contract has any connection with Singapore, but for the many advantages that Singapore has to offer as the seat of their arbitration.

Mediation, under the Singapore Mediation Centre and industry mediation bodies, has also gained prominence as a means of resolving commercial disputes.

[edit] Contact

32 Maxwell Road #02-01 Singapore 069115 – Singapore

Tel: +65 6221 8833

Fax: +65 6224 1882

Email: corpcomms@siac.org.sg - casemanagement@siac.org.sg

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