Singapore: Navigating the SIAC Rules 2025

13 Dec 2024    1 minute read
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In brief

The Singapore International Arbitration Centre ("SIAC") has recently announced the release of the 7th Edition of the Arbitration Rules of the Singapore International Arbitration Centre ("SIAC Rules 2025") which will come into force on 1 January 2025. The SIAC Rules 2025 will apply to arbitrations commenced from 1 January 2025 onwards, where the arbitration agreement provides that the arbitration will be conducted pursuant to the rules of the SIAC for the time being in force, even if the arbitration agreement was entered into before that date.

Contents

Amongst other things, the SIAC Rules 2025 seek to improve efficiency in the conduct of arbitral proceedings through:

  1. the introduction of new procedures, such as the "Streamlined Procedure", which will allow disputes of lower value and complexity to be decided in an expeditious manner, and "Coordinated Proceedings" which seeks to coordinate the resolution of multiple arbitrations involving common legal or factual issues where the same tribunal has been appointed;
  2. the enhancement of existing mechanisms such as the "Expedited Procedure" to make it more accessible to the parties, and the "Emergency Arbitrator" procedure to make it easier for parties to seek and obtain urgent interim relief; and
  3. clarifying and making explicit the tribunal's power to make preliminary determinations and protective preliminary orders.

Parties may wish to rely on these procedures in certain circumstances where: (i) the subject of the dispute is not particularly complicated; (ii) it may be more cost-effective to do so; or (iii) urgent interim relief is necessary. We elaborate on these in greater detail below.

Click here to read the full alert.

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Contact Information
Nandakumar Ponniya
Principal
Singapore
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nandakumar.ponniya@bakermckenzie.com
Ashish Chugh
Principal
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Richard Allen
Local Principal
Singapore
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richard.allen@bakermckenzie.com
Nicholas Tan
Associate
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Yong Li Yap
Associate
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