SIAC sets record with more than 1,000 cases filed in 2020
29 April 2021
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 1,000-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.
SIAC detailed the record in its 2020 Annual Report.
SIAC’s total sum in dispute for 2020 was US$8.49 billion (S$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, Vietnam, Japan and the Cayman Islands.
Gary Born, president of the Court of Arbitration of SIAC, commented: “These numbers are exceptional and will spur us to work even harder on improving the quality and efficiency of SIAC’s case administration, to fulfil our goal of being the leading choice of users all over the world.”
Davinder Singh, 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.”
Seok Hui Lim, CEO of SIAC, said: “We reached new milestones in 2020 through careful planning and hard work. We greatly value and appreciate the trust of our users all around the world, which keeps us firmly motivated.”
SIAC opened a representative office in New York in late 2020, its first representative office outside of Asia.
