Revised SIAC Rules To Enter Into Force On 1 January 2025

On 9 December 2024, the Singapore International Arbitration Centre (SIAC) announced the official release of the 7th edition of the Arbitration Rules of the Singapore International Arbitration Centre ("2025 SIAC Rules" or "Rules"), which will come into force on 1 January 2025.

The 2025 SIAC Rules are the result of extensive public consultation with SIAC users and other stakeholders.

1. Streamlined Procedure

The Rules introduce a new Streamlined Procedure (Rule 13, Schedule 2), which is designed for low value disputes. It applies if the parties have agreed to its application at any time prior to the constitution of the Tribunal, or if the amount in dispute does not exceed SGD 1 million, unless the President of the SIAC Court determines upon application of a party that it shall not apply.