SIAC Introduces New Arbitration Rules Tailored for Investment Disputes

January 27, 2017

The first edition of the SIAC Investment Arbitration Rules (the SIAC IA Rules) was released on 30 December 2016 and came into force on 1 January 2017. In releasing the SIAC IA Rules, SIAC has become the first commercial arbitration institution in Asia to release a set of rules customised for international investment arbitration. To mark the occasion we provide this client briefing on the key features of the new rules.

Speed read

  • If the parties so agree, the SIAC IA Rules will apply to disputes with a state, state-owned entity or intergovernmental organisation which arise out of commercial agreements, legislation or international treaties.
  • The SIAC IA Rules are in large part based on the 6th edition of the standard SIAC Rules, which came into force on 1 August 2016 (which are discussed in our briefing "Overview of the 2016 SIAC Rules"). 
  • The SIAC IA Rules include a number of innovations and modifications designed specifically for investment arbitration. These include allowing amicus curiae submissions by third parties, granting tribunals the authority to require the disclosure of any third-party funding arrangements, and making interim relief from an emergency arbitrator available if both parties expressly agree. 
  • Arbitrations conducted under the SIAC IA Rules will be subject to the same Schedule of Fees as for standard SIAC arbitrations. Accordingly, arbitrations under the SIAC IA Rules should be less expensive than ICSID arbitrations, particularly if there is a relatively low amount in dispute.

Read the full briefing »