SIAC releases rules on conduct of investment arbitration

THE Singapore International Arbitration Centre (SIAC) has released its first edition of the rules on the conduct of international investment arbitration.

Known as the SIAC IA Rules 2017, it will be available on the centre's website from Dec 31 and will come into effect on Jan 1.

Key highlights of the rules include a default list procedure for the appointment of the sole or presiding arbitrator and an opt-in mechanism for the appointment of an emergency arbitrator; a procedure for early dismissal of claims and defences; provisions for submissions by non-disputing parties and to enable the tribunal to order the disclosure of third-party funding arrangements and to take such arrangements into account when apportioning costs.