On 1 September 2015, the Singapore International Arbitration Centre (the “SIAC”) announced the release of its revised model arbitration clause (the “revised Model Clause”).

The revised Model Clause harmonises the SIAC Model Clause with the SIAC Model Clause for Contracts with PRC Parties, and provides a single, user-friendly Model Clause for the convenience of contracting parties who choose to have their disputes referred to arbitration with the SIAC.

The revised Model Clause reflects the growing international caseload handled by the SIAC’s Secretariat by offering parties flexibility in selecting the seat of arbitration, while providing certainty in designating the SIAC as the arbitral institution to administer their disputes. The SIAC Expedited Procedure Model Clause has similarly been updated to align with the provisions of the revised SIAC Model Clause.

Reference material

For the full text of the SIAC revised Model Clause from the SIAC www.siac.org.sg, please click here.