Reed Smith Client Alerts

The latest edition of the SIAC Arbitration Rules came into effect on 1 August 2016 and SIAC’s Annual Report published in March 2017 provides an update on how the new rules have been utilised. This client alert examines the key amendments introduced by these rules and their use so far.

Authors: Simon Jones Joyce Fong

Type: Client Alerts

An efficient international commercial arbitration is one where each party is given a reasonable opportunity to put its case and an enforceable award is issued as soon as possible at the lowest possible cost. However, international commercial arbitration generally faces increasing criticism globally due to perceived unnecessary delays and wasted costs.

In an attempt to address these concerns, key international arbitral institutions have amended, or are in the process of amending, their arbitration rules to introduce or refine the tools available to tribunals and parties seeking to improve the effectiveness and efficiency of arbitration.