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SIAC to release new arbitration rules for 2016

The Singapore International Arbitration Centre (SIAC) will produce revised rules for release in 2016, it said in a statement.  25 Aug 2015

Changes will include new provisions on emergency arbitration, faster procedures and new rules on investment arbitration, SIAC said.

Gary Born, president of SIAC, will chair a new rules revision committee, with subcommittees to look at different aspects of the rules, the statement said.

The changes will reflect recent developments in arbitration and ensure the SIAC is "at the cutting edge of international arbitration practice around the world", Born said.

The new rules will also help SIAC to work with a wider range of users, including businesses, financial institutions and governments, SAIC said.

SIAC rules were last updated in 2013, alongside changes to the governance structure of SIAC when the centre changed its board of directors and introduced a court.

The 2016 changes will be made after consultation with SIAC users and arbitration practitioners..

Singapore opened two new arbitration centres in 2014, the Singapore International Mediation Centre (SIMC) and Singapore International Commercial Court (SICC). These were set up to meet the growing demand for neutral venues in which to launch cross-border transaction disputes.