SIAC Investment Arbitration Rules come into effect; new SCC rules include appendix on investment treaty disputes
On January 1, 2017, the Investment Arbitration Rules of the Singapore Investment Arbitration Centre (SIAC) came into effect. Among the highlights are provisions on early dismissal of claims and defences, submissions by non-disputing parties and mandatory disclosure of third-party funding arrangements. The tribunal may consider such arrangements when apportioning costs.
The 2017 Arbitration Rules of the Stockholm Chamber of Commerce (SCC) entered into force on the same day. Appendix III contains additional provisions applicable to treaty-based investor–state arbitrations. Third parties or non-disputing treaty parties may request or be invited by the tribunal to make a written submission. Moreover, absent agreement on the number of arbitrators, investment tribunals will be composed of three arbitrators by default.
