The Application of New Arbitration Rules to Old Agreements: Fair or Foul?
A number of international arbitral institutions have adopted innovative procedures in recent times. These include the ability to appoint an emergency arbitrator, the fast-tracking of certain arbitrations through the use of expedited procedures, the consolidation of related cases into a single arbitration, and increased oversight and scrutiny of arbitrators.
The vast majority of arbitration users have responded positively to these developments. So has the Singapore High Court, which has confirmed that the new rules adopted by the Singapore International Arbitration Centre (SIAC), and those of other bodies, are valid and enforceable. Significantly for the purposes of this briefing, the Singapore High Court has also recently confirmed that procedural innovations in the rules of arbitration can be applied to contracts which came into existence before the innovations were introduced. (In doing so, the Singapore High Court relied upon a leading guide to Singapore arbitration co-authored by Dechert’s Mark Mangan.)