Singapore International Arbitration Centre Rules 2016

på


 by Ravi Shankar

 India signed UN convention on Recognition and enforcement of Foreign awards (popularly known as New York convention) on 10th October 1958 and at that point of time only 23 countries signed the above said convention. It is interesting to know that USA, UK, Singapore & Hong Kong the popular international arbitration countries of today did not sign the above said convention at that point of time.

Among them in Asia, since its inception in the year 1992 (now celebrating Silver Jubilee) Singapore Arbitration Centre(SIAC) has been aggressive in ensuring international quality services, upgrading its Rules, adopting new developments etc., It has already established itself as one of the top well administered arbitration Institutions of the world.

A couple of days back SIAC has announced its Arbitration Rules 2016, still final version is not published. The said Rules have tried to deal with a few issues faced by arbitrating parties and have tried to give acceptable solutions to them. But most importantly by its 2016 Rules SIAC has made a declaration to the world that SIAC wants to travel beyond Singapore seat, by removing the Singapore default seat clause.  Each Arbitration Law Firm and Arbitration Lawyer is waiting to see the impact of new Rules.

The arbitration Rules of SIAC 2013 and earlier provided that the parties choosing arbitration under SIAC Rules, need to specify the seat of arbitration in their arbitration clause and in case of failure of the parties to specify a seat in their clause, Singapore shall be the default seat for those arbitrations. That means, if parties choose SIAC as the administering Institution for their arbitration in their arbitration clause and did not specifically choose a seat, the seat became Singapore as per the old Rules.

Many International arbitration centres including LCIA (London Court of International arbitration which has London seat), HKIAC (Hong Kong International Arbitration Centre which has Hong Kong seat) have default seats. Among the popular arbitration institutions, the only arbitral Institution which does not have a default seat in its Rules is International Chamber of Commerce (ICC). Since there is no default seat specified in the SIAC Rules, the arbitral tribunal appointed by SIAC will decide the seat of arbitration, taking into consideration all the relevant factors. This provision displays the readiness of SIAC to administer International arbitrations seated globally.

But one of the important reasons for SIAC getting such a big growth within a short span of time is the default seat provision. Each arbitration law firm in India and arbitration lawyer in India started recommending SIAC because of the, the impressive exercise of the powers of the supervising Courts, by the Singapore Courts. Hence reaction of the parties to this clause have to be seen over a period of time.



The author is an International Arbitration lawyer in Delhi and a Senior Partner from an International Arbitration law firm in Delhi and Mumbai.
http://www.lawsenate.com/

Article Source: http://www.articlesphere.com/Article/Singapore-International-Arbitration-Centre-Rules-2016/400002

Comments

Post a Comment

Luxury Travel Blog for the Resident

We try to share with you this blog, tips, information knowledge, and experiences related to global tuirism. We have also frequently linked to some unbeatable price comparison services within the tourist industry where you can easily compare and book your next trip and accommodation.

As everyone understands, it costs to maintain web pages and blogs on the internet with up-to-date information that is regularly updated. Therefore, please feel free to support our business if you can. We gladly link to interesting articles and stories if you want to contribute with this.

For national, regional and local tourist agencies, travel companies, airlines etc. This way, through a number of channels, we can offer effective marketing opportunities. For example, we have our own adserver and adnetwork for Pay-Per Click advertising

We also offer the opportunity to advertise on this first page of our blog, if you want to be visible here with your tourist information then we can recommend that you hear from us so that we can set up a featured campaign for your advertising.

Featured ad here costs $ 300:-/year and we guarantee 50,000 unique visitors to your ad.



Featured Online Travel Booking Services - All inclusive travel planning

If you are really tight on the budget, booking an all-inclusive holiday package can save you a big chunk of money. Because these all-inclusive package holiday companies have close ties with hotels & popular tourist spots in the country, they can get a better rate than you can! Hence, normally, the discounts & savings will be passed on to you - the all-inclusive holiday customers, tourists & visitors!

Ever tried to cram all your travel plans into one small budget & short schedule? If you have, you will know the true meaning of a frugal & haphazard holiday. Some people think that all-inclusive holiday packages leave very little space for them to have fun & there is no flexibility. But they're wrong.
You can save money with an all-inclusive holiday package

All-inclusive vacations are hassle-free

Planning a holiday can give you headaches! When you book an all-inclusive holiday package, you are actually giving yourself the chance to enjoy the holiday without having to worry about the nitty-gritty details. Your accommodation, food, entertainment & travelling are all taken care of. The only thing that you & your relatives members have to worry about is how much fun you are going to have during the holiday. Some tourists & vacationers like to get an all-inclusive holiday package because there is lack of time. Some people have to contend with last minute plans. The all-inclusive holiday packages can be real life savers in this instance. Even honeymooners love all-inclusive packages because they don't require to have to worry about meals, entertainment, activities, transportation & accommodation when they should be focused on each other!

Mealtime fun with all-inclusive holiday packages

One of the most worrisome things for tourists is WHERE to eat. Because they're not familiar with the country & the booklets that they can get from airports are not very accurate (most of the time), meal times are worrying. When we are visiting another country, they require to try another delicacy, something old..and cheap. Who better to tell you where to find it than an all-inclusive holiday planner? they have all the ropes, hang on to them & enjoy the meal!

You can read all you require from the web or from books on the different cultures & religions in the country that you are visiting.and yet, whenever you are on an all-inclusive holiday package, the tourist guide will STILL tell you things that surprises you! & this is an important point because you don't really require to step on someone's toes when you are in THEIR country.

All-inclusive packages - tells you the cultural differences between races & religions

Besides all of that, with all-inclusive holiday packages, you don't have to worry about where to have fun because they plan everything for you. All-inclusive holiday packages are definitely worth it!


Cheap Airline Tickets: Great Ways To Save

A round-the-world trip remains the world's greatest journey. For two out of every three people, this is the ultimate travel experience, according to recent research. Needless to say, in a world obsessed by travel, travelers and travel agents are both looking for the cheapest tickets and airfares available.

Cheap airline tickets, in most cases, can be obtained from wholesale dealers and discounters.

If your requirements are simple - you want a round-trip ticket from one place to another, you have a particular airline on your mind and you have definite dates; then you can go directly to the source - to the ticket discount agency which buys cheap tickets in bulk from wholesalers and consolidators.

In real life most trips require more planning, and most people need a help from the agent to figure out what would be the best air ticket solution for their particular case. Cheap airfares to a particular region can often be found with local airlines that specialize in that country. Sometimes an agency that operates and retails tours to a particular country will have a discount agreement with the national carrier and will sell discount tickets on that airline.

With a bit of research through travel magazines aimed at the particular country of your choice, you can often find agencies dealing with national carriers for that country. For the cheapest possible airfare to many places the most affordable prices are often found in local travel agencies that deal with a particular destination selling round-trip discount airline flights - most likely to the capital of that country and a few main cities.

Sometimes you can find a really cheap air ticket with a discount retail agency that specializes in trips to a wider range of destinations or to multiple destinations. Through the sheer number of tickets that they sell they can command a reasonable discount. However, keep in mind that most advertised prices do not include taxes, luggage fee and airport tax, so the cheap airfare may end up being not so cheap. Best to read the small print to clarify exactly what you are getting before you purchase a ticket.

Another trick of the trade is for agencies to grab attention by indicating the lowest possible prices, which only apply on specific dates in low season. You’ll find that all agencies do this, even the most expensive ones so, don’t be surprised if you get a quote at double the price from what was displayed in the ad.

Airlines usually publish their scheduled flights and prices six months in advance. If you have decided on a destination it can be a good opportunity to get an ‘early bird’ discount by booking well in advance. Keep your eye on the travel press and also airline web-sites. There are often special discounts and incentives aimed at travelers who book online, as carrying out a booking online is cheaper for the company than through an intermediary who will take a commission.

However, although you can expect to get the cheapest air ticket if you start searching many months ahead, there are some exceptions. At times like Christmas or other periods of high demand the prices are usually inflated and planes fill up many months in advance. If you can be flexible and travel on actual holiday days such as Christmas day or New Years Eve you can find some pretty attractive discounts.


Pick A Hotel With Personality!

What does individuality mean in the hotel industry? As far as boutiques are concerned, it’s not just about being a little bit quirky; hanging modern art on the walls, sticking some designer chairs in the rooms or making all the fittings stainless steel. It’s about a design theme that runs through the hotel from start to finish and affects everything from the cushions on the sofas to the dessert menu in the restaurant.

Location

Where does the inspiration for this individuality and personality come from? For some hoteliers, it comes from the location. It’s unsurprising that boutique beach hotels are clean and simple, bringing the colours and textures of the coast into the building and using architectural design to allow guests to feel at one with the sea; large windows, folding doors and seawater pools for example. In contrast, small hotels that are based in cities often reflect either the present-day energy or the historic past of their location. Through the use of rich colours or minimal materials, antique furniture, period art and a variety of textiles, designers can create a hotel that truly reflects its location.

Culture

Many hotels show influences from different cultures – and not always from the culture that’s readily associated with the hotel’s location. Therefore, New England simplicity or Asian colours and textures can show up in hotels in London or Sydney and work well, as long as the concept is properly thought through and sensitively carried out. Extending a cultural theme to rooms and cuisine often requires a lot of research, particularly when it comes to sourcing the right furniture and accessories, but if the end result is a truly individual hotel, then the preparation is worthwhile.

Community

A true boutique hotel becomes an intrinsic part of the local community, and this is part of its individuality. Chain hotels are just places to stay; boutique hotels are places to be – whether it is locals using the restaurant or trendy city workers drinking in the bar; using the produce from the farm down the road or sharing spa facilities with a local retreat, boutique hotels make a real effort to integrate into their local community rather than being set apart from it.



Sincerely

Roger K. Olsson