Overview

In this update, we review important pending changes to the Singapore International Arbitration Centre (SIAC) Rules. The SIAC has produced draft amendments to its 2007 Rules and is currently consulting on these with both arbitration users and counsel.

The most significant of the proposed amendments include:

- The removal of the requirement for a Memorandum of Issues signed by the parties and the Tribunal to define the issues for decision in the award; and

- The introduction of a new expedited procedure for cases with a value below S$5,000,000 (approx US$3,600,000) or cases of exceptional urgency.

In addition, the briefing takes a look at recent changes to the International Arbitration Act in Singapore and reviews the recent Singapore International Arbitration Forum (SIAF), which marked the opening of Singapore's integrated arbitration centre, Maxwell Chambers. It also features summaries of the most important recent arbitration-related decisions in the Singapore court.

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