The Singapore International Arbitration Centre (SIAC) is a neutral arbitration forum, which administers international arbitrations seated in Singapore. It has its office in Singapore, with Representative Offices in China, India, USA, and Korea.
Brief history
The SIAC was founded in 1991 and has built a reputation for integrity and procedural excellence. It is now one of the leading arbitral institutions in Asia.
Rules
The SIAC has its own set of rules and the latest edition came into force on 1 January 2025. The updates were aimed at making arbitration more efficient and flexible.
The SIAC provides for an Expedited Procedure for disputes to the value of no more than USD 7.3 million, or a Streamlined Procedure where amount in dispute is less than USD 750,000.
The Streamlined Procedure is a way to get a quick decision. The Tribunal comprises a sole arbitrator, and there is no hearing as default. If there is to be a hearing, it is usually conducted virtually. The arbitrator is under an obligation to issue the award within three months of the date of the constitution of the tribunal.
The SIAC will also administer arbitrations under UNCITRAL Rules, and ad hoc cases.
Cases heard by the SIAC
SIAC’s caseload is primarily focused on international commercial matters. In 2023, 47% of its cases were categorised as ‘Trade’, while the next largest catogeries were ‘Commercial’ (14%) and ‘Maritime / Shipping’ (13%).
The caseload varies and the SIAC hears disputes in a range of sectors including: Banking, Insurance, Construction, Energy, Engineering, Procurement.
See the 2023 Annual Report for detailed statistics.
The SIAC’s work is truly international and over 93% of new cases filed at SIAC in 2023 were international in nature.
In 2023, 649 cases were SIAC administered cases and 23 were ad hoc appointments.
Arbitrators
The SIAC has a panel of over 600 independent and neutral arbitrators from more than 40 countries. This means that there is a vast spread of knowledge over different cultures and ways of working. The arbitrators have specialist knowledge of their subject areas and there are strict standards of admission for the panel, to keep challenges to the awards to a minimum.
Unique / Unusual features
SIAC is registered as a Permanent Arbitral Institution under Russia’s Federal Law on Arbitration and it is authorised to administer international commercial arbitrations for Russia-seated arbitrations.
Costs
Costs of SIAC arbitrations comprise a non-refundable filing fee, the administration fee, and the arbitrators’ fees.
The non-refundable filing fee is S$3,270 for Singapore parties, but it’s slightly less for overseas parties, at S$3,000.
The administration fee is relative to the amount in dispute. The minimum fee is S$5,000 and it increases in increments up to a maximum of S$150,000.
The arbitrators’ fees are also charged in reference to the amount in dispute ranging from S$5,000 to a maximum of S$2 million.
There’s a full schedule of fees on the SIAC’s website, together with a helpful fee calculator to estimate your fees.
