Singapore—The Hub of Arbitration in Asia

Abstract

Singapore has developed as an important regional centre for commerce and, increasingly, as an important financial centre. There are many reasons why Singapore has emerged as one of the world's leading centres for international commercial arbitration. In the first place it is blessed with an excellent geographical location. Singapore International Arbitration Centre (SIAC) was established 20 years ago as a non-profit organisation to administer arbitrations under its own rules. SIAC has its own Arbitration Rules. The latest version dates from July 2010. It provides for fully administered arbitrations, supervised by SIAC. The new Rules were adopted following an extensive consultation process with practitioners. The Rules aim to improve the speed and efficiency of arbitrations and to reflect best practice and innovations in international arbitration. The Singapore Courts have demonstrated an excellent knowledge of international arbitration and a determination to support arbitration. Keywords: international commercial arbitration; Singapore International Arbitration Centre