The following article is taken from the Singapore International Arbitration Centre (SIAC). Click here to go to the original article.
The Singapore International Arbitration Centre (SIAC) is pleased to present its Costs and Duration Study (Study) based on actual cases filed with SIAC under the Arbitration Rules of the Singapore International Arbitration Centre (5th Edition, 1 April 2013) (SIAC Rules 2013). The costs and duration of SIAC arbitrations are reproduced below in tabular form:
| Type of Tribunal | Mean Duration (months) | Median Duration (months) |
| All Tribunals | 13.8 | 11.7 |
| Sole Arbitrator Tribunal | 13.0 | 11.3 |
| Three-Member Tribunal | 15.3 | 11.7 |
| Type of Tribunal | Mean Total Costs of Arbitration | Median Total Costs of Arbitration | ||
| (USD) | (SGD) | (USD) | (SGD) | |
| All Tribunals | 80,337 | 109,729 | 29,567 | 40,416 |
| Sole Arbitrator Tribunal | 39,207 | 53,418 | 27,941 | 39,027 |
| Three-Member Tribunal | 154,371 | 211,089 | 80,230 | 110,725 |
| Type of Tribunal | Mean Tribunal’s Fees | Median Tribunal’s Fees | ||
| (USD) | (SGD) | (USD) | (SGD) | |
| All Tribunals | 71,367 | 97,518 | 26,852 | 34,170 |
| Sole Arbitrator Tribunal | 31,497 | 42,932 | 22,449 | 31,680 |
| Three-Member Tribunal | 143,133 | 195,772 | 70,904 | 97,854 |
| Type of Tribunal | Mean Administration Fees | Median Administration Fees | ||
| (USD) | (SGD) | (USD) | (SGD) | |
| All Tribunals | 8,970 | 12,211 | 5,853 | 8,195 |
| Sole Arbitrator Tribunal | 7,710 | 10,486 | 5,836 | 8,058 |
| Three-Member Tribunal | 11,238 | 15,317 | 6,723 | 9,237 |
For each case under the Study, SIAC measured the duration of the proceedings from the date of commencement of the arbitration until the issuance of the final award, and recorded the actual costs of arbitration as determined by the Registrar in accordance with the SIAC Schedule of Fees. In its aggregation and analysis of these data, SIAC observed the following methodology:
(i) the data set included 98 cases commenced and administered under the SIAC Rules 2013 during the period from 1 April 2013 to 31 July 2016 where a final award was issued. The following categories of cases were excluded:
- ad hoc proceedings and cases administered under previous iterations of the SIAC Rules and the UNCITRAL Arbitration Rules
- cases heard before a tribunal other than a sole arbitrator or a three-member panel
- cases that did not proceed or were withdrawn
- cases that reached settlement during the course of the proceedings or resulted in an award by consent
- cases that are still ongoing
(ii) duration was calculated as the full period between the date of commencement of the arbitration and the date of issuance of the final award, inclusive of any stay periods, either formal or informal.
(iii) the total costs of arbitration included SIAC’s administration fees and expenses and the tribunal’s fees. Legal fees and other costs, emergency arbitrator’s fees, costs of challenges, and the tribunal’s expenses and applicable taxes were excluded.
(iv) exchange rates were taken as at the date of the final award.
Gary Born, President of the Court of Arbitration of SIAC, commented, “The Study affirms SIAC’s position as a global leader for quality and efficiency in the resolution of cross-border disputes of all sizes and complexities. Given that SIAC’s average sum in dispute in the past three years is more than USD16 million, the Study clearly demonstrates the advantages of the ad valorem cost system and the robust nature of SIAC’s cost determination process, whereby the actual costs of arbitration are finally determined based on a reasonable percentage of the maximum fee caps set out in SIAC’s Schedule of Fees.”
Lim Seok Hui, Chief Executive Officer of SIAC, added, “The Study underscores SIAC’s firm commitment to providing greater transparency, certainty and efficiency for its users from all parts of the world. The recent release of the SIAC Rules 2016, which include a number of market-leading innovations such as the early dismissal process and enhancements to our popular Emergency Arbitrator and Expedited Procedure provisions, will enable parties to achieve even greater savings in time and costs.”
For more information please contact:
Singapore International Arbitration Centre
T: +65 6221 8833
