The Singapore International Arbitration Centre (SIAC) has opened its first representative office outside of Asia, in New York, on 3 December. It also announced a record-breaking caseload with more than 1,000 cases in total in the year to October 2020, more than double the annual caseload of about 400 in each of the past few years.
The SIAC’s counsel, Adriana Uson, will lead the new office, which is the fifth overseas. It reinforces the SIAC’s popularity in the US, which has topped its foreign users since 2018. More than 500 US parties arbitrated their disputes under the SIAC rules in 2020.
“This is a special moment in SIAC’s history,” said Lim Seok Hui, CEO of SIAC. “The opening of our New York office, coupled with the crossing of the symbolic 1,000-case threshold and a record number of US parties at SIAC, will firmly motivate us to do better. We thank our users from all over the world for the trust they have placed, and continue to place, in us.”
Gary Born, president of the SIAC Court of Arbitration, said that the new record for the SIAC puts its international administered caseload among the highest in the world.
“The opening of SIAC’s representative office in New York is the beginning of a long-term collaboration and cooperation with our US users, to provide an expert, experienced and efficient means of resolving international disputes for US businesses. We look forward to working with our colleagues in the US and Latin America,” he said.
SIAC opened its first overseas office in Mumbai in 2013. It later opened representative offices in Seoul in 2013, Shanghai in 2016, and India’s Gujarat International Finance Tec City in 2017.