On 1 September 2015, the Singapore International Arbitration Centre announced the release of its revised model arbitration clause.
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.
Revised Model Clause
The Revised Model Clause reads:
In drawing up international contracts, we recommend that parties include the following arbitration clause:
Any dispute arising out of or in connection with this contract, including any question regarding its existence, validity or termination, shall be referred to and finally resolved by arbitration administered by the Singapore International Arbitration Centre (“SIAC”) in accordance with the Arbitration Rules of the Singapore International Arbitration Centre (“SIAC Rules”) for the time being in force, which rules are deemed to be incorporated by reference in this clause.
The seat of the arbitration shall be [Singapore].*
The Tribunal shall consist of __________** arbitrator(s).
The language of the arbitration shall be _____________.
Parties should specify the seat of arbitration of their choice. If the parties wish to select an alternative seat to Singapore, please replace
“[Singapore]” with the city and country of choice (e.g., “[City, Country]”).
** State an odd number. Either state one, or state three.