Singapore International Commercial Court Released A Model Arbitration Clause
The Singapore International Commercial Court (“SICC”) has released a model clause to enable the parties to designate the SICC as the competent court for hearing their arbitration-related court cases:
“In respect of any court proceedings in Singapore commenced under the International Arbitration Act 1994 in relation to the arbitration, the parties agree;
(a) to commence such proceedings before the Singapore International Commercial Court ("the SICC"); and
(b) in any event, that such proceedings shall be heard and adjudicated by the SICC.”
SICC also stated that this model clause will be a part of the Singapore International Arbitration Centre’s model arbitration clause. As such, the parties will be able to choose a specialist court to rule on their arbitration-related litigation cases.
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