Singapore International Arbitration Centre had 1080 case filings in 2020
2020 saw the Singapore International Arbitration Centre (SIAC) set a new record with 1,080 new case filings. This is the first time that SIAC’s caseload has crossed the 1000-case threshold. Of the 1,080 cases, 1,063 (98%) were cases administered by SIAC, which is also a record. The remaining 17 (2%) cases were ad hoc appointments.
Singapore International Arbitration Centre 2020 Annual Report
SIAC’s total sum in dispute for 2020 was USD 8.49 billion (SGD 11.25 billion) which was a 4.9% increase from 2019.
Parties from 60 jurisdictions chose to arbitrate at SIAC in 2020. India, US and China topped the foreign user rankings. Other top foreign users encompassed a broad spectrum of civil and common law jurisdictions, including Switzerland, Thailand, Indonesia, Hong Kong SAR, Vietnam, Japan and Cayman Islands.
Mr Davinder Singh, SC, Chairman of SIAC, said: “We are deeply grateful for this immense support which is a clear re-affirmation of the international community’s trust in SIAC’s neutrality, integrity, independence, and time and cost efficiency, and of the world’s regard for our best in class judiciary and a government which sets the legislative pace.”
Source: News Release