22 March 2018
Authors rate SIAC as Most Cost-Competitive and Efficient International Arbitral Institution

In a recent article by CMS Holborn Asia and the Society of International Law (Singapore), titled “Costs and Duration: A Comparison of the HKIAC, LCIA, SCC and SIAC Studies”, the authors concluded that “SIAC remains the most cost-competitive option for both sole-arbitrator and three-arbitrator cases” and that “for three-arbitrator cases in particular, SIAC remains significantly cheaper than LCIA and SCC where the costs extend to six-digit figures”. According to the article, SIAC arbitrations are “the most efficient in comparison to the other arbitral institutions”.

The authors said that they compared the latest figures released by HKIAC, LCIA, SCC and SIAC in their respective costs and duration studies. They presented the following conclusions:

"SIAC remains the most cost-competitive option for both sole-arbitrator and three-arbitrator cases. For three-arbitrator cases in particular, SIAC remains significantly cheaper than LCIA and SCC where the costs extend to six-digit figures.”

Table 1: Median Arbitration Costs for Sole and Three Arbitrator Cases
Arbitral Institution Median Arbitration
Costs for All Cases
Median Arbitration Costs
for Sole-Arbitrator Cases
Median Arbitration Costs
for Three-Arbitrator Cases
HKIAC USD 62,537 - -
LCIA USD 97,000 USD 60,000 USD 200,000
SCC - USD 36,037
(EUR 33,096)
USD 181,864
(EUR 167,021)
SIAC USD 29,567 USD 27,941 USD 80,230
 
“SIAC arbitrations are the most efficient in comparison to the other arbitral institutions. The median duration of an SIAC arbitration is the shortest at 11.7 months.”

Table 2: Mean and Median Duration
Arbitral Institution Mean Duration (months) Median Duration (months)
HKIAC 16.2 14.3
LCIA - 16
SCC 16.2 13.5
SIAC 13.8 11.7

The article added that “based on a comparison of the four studies, the costs and duration of arbitral proceedings are ostensibly most attractive when administered by SIAC”.

A copy of the article may be accessed here.

Further details on SIAC’s Costs and Duration Study may be found here.


For more information, please contact:

Singapore International Arbitration Centre
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