The Singapore International Arbitration Centre (SIAC) is pleased to announce the official release of its 2021 Annual Report. 

In 2021, SIAC saw its third-highest caseload, with 469 new case filings. Of the 469 cases handled by SIAC, 446 (95%) were cases administered by SIAC. The remaining 23 (5%) cases were ad hoc appointments. This is the fifth consecutive year that SIAC’s caseload has exceeded 400, with the number of cases doubling over the last decade. 

SIAC’s total sum in dispute for 2021 was USD 6.54 billion (SGD 8.85 billion). Users continued to entrust SIAC with high-value cases, and the highest sum in dispute for a single administered case was USD1.95 billion (SGD2.64 billion), which is more than twice the highest sum in dispute in 2020. 

The procedures under the SIAC Rules 2016 continued to be well-received by users, with an increase in the number of applications for Expedited Procedure, Early Dismissal, and Joinder from 2020. 

Parties from 64 jurisdictions chose to arbitrate at SIAC in 2021, an increase from 60 jurisdictions in 2020. 86% of new cases filed at SIAC were international in nature. India, China, and USA continued to top the foreign user rankings. Other top 10 foreign users comprised parties from both civil and common law jurisdictions, and SIAC saw an increase in the number of parties from Hong Kong SAR, Malaysia, South Korea, UAE, Ukraine, and Vietnam, compared to 2020. 

Ms Lucy Reed, President of the Court of Arbitration of SIAC, said: “We are heartened by the results and will continue to enhance the quality of SIAC’s services as a leading global arbitral institution, to serve our users better.” 

Mr Davinder Singh, SC, Chairman of SIAC, said: “SIAC is where it is today because of Singapore’s steadfast adherence to the rule of law, the integrity of its institutions and its highly sophisticated and ever evolving international arbitration eco-system. I thank our users from all around the world for your vote of confidence in Singapore and SIAC.” 

Ms Gloria Lim, CEO of SIAC, said: “SIAC’s continued growth is built on the trust of users in our services, and the strength of our Board, Court, Secretariat, arbitration panel as well as valued partners and industry stakeholders who have worked tirelessly with us throughout the years. We will continue to work closely with the industry and the arbitral community to innovate, adapt, and expand our services internationally, to address the dispute resolution needs of commercial parties and businesses globally.”

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