Singapore is committed to be a reference in arbitration driving their legal system in that direction with the Singapore’s International Arbitration Act, published in 1994, revised in 1995, and amended in 2001, 2002, 2005, 2009 and, finally, in 2012. This has been followed by sets of rules in 1991, 1997, 2007, 2010, and 2013 incorporating in a short period of time the last updates. All this have turned Singapore International Arbitration Centre into one of the top arbitration seats in the world.
SIAC has opened its Court of Arbitration and Board of Directors to arbitrators from all over the world. New developments in 2013 take advantage of Singapore’s consideration as an arbitration friendly seat, opening the scope of arbitration to investments, promoting flexibility in the arbitral proceeding and making arbitration more independent from Court jurisdiction. The new rules focus on time and cost savings, not only in administrative issues but also for the parties to the arbitration.
Iurgium [previously Spain Arbitration Review]