2016 | Julio 1
The Singapore International Arbitration Centre (“SIAC”) released the sixth edition of its arbitration rules (the “2016 Arbitration Rules”) on 1 July 2016, with the stated aim of providing an updated set of procedures that are “timely, efficient, cost-effective, and user-friendly”. The Rules contain a number of significant refinements and innovations, although the most notable development is the introduction of a second set of arbitration rules to deal with investor-state arbitration (the “Investment Arbitration Rules”).
SIAC have stated that the 2016 Arbitration Rules will come into effect on 1 August 2016. SIAC have indicated that this will be followed by the Investment Arbitration Rules in September 2016. The Arbitration Rules will apply to any arbitration commenced on or after the date these new rules come into force, 1 August 2016, The Investment Arbitration Rules will apply if they have been incorporated into a contract, international treaty, or other instrument applicable to the parties.