On 1 February 2016, SIAC commenced a public consultation process on its draft Investment Arbitration Rules 2016. A copy of the draft rules can be found here.
The draft Investment Arbitration Rules include many new provisions which have been the focus of discussion within the international arbitration community, including provisions on early dismissal of claims, confidentiality, submissions by non-disputing parties and disclosure of third party funding arrangements.
In a press release announcing the consultation, Gary Born, the President of the SIAC Court of Arbitration, said that: “As investment arbitration continues to grow, in Asia and elsewhere, the new SIAC Investment Arbitration Rules are intended to provide an efficient and neutral set of procedural rules tailored to the needs of both states and investors. We look forward to receiving comments from users around the world.”
SIAC has invited all interested users and practitioners to review the draft Investment Arbitration Rules and send in their comments to rulesconsult@siac.org.sg. The consultation period ends 29 February 2016.