SIAC Arb SIAC Arbitration Rules (2025)
SIAC Arb
SIAC Arbitration Rules (2025)
51.1 The Tribunal may make more than one award at different points in time during the arbitration on different aspects of the matters to be determined.
51.2 Where there is more than one arbitrator, the Tribunal shall decide by a majority. Failing a majority decision, the presiding arbitrator alone shall make the award for the Tribunal.
51.3 If any arbitrator fails to participate in the making of the award, having been given a reasonable opportunity to do so, the remaining arbitrators may proceed. The remaining arbitrators shall provide written notice of such failure to the Registrar, the parties, and the absent arbitrator. In deciding whether to proceed with the arbitration in the absence of an arbitrator, the remaining arbitrators may take into account, inter alia, the stage of the arbitration, any explanation provided by the absent arbitrator for his or her failure to participate, and the effect, if any, upon the enforceability of the award should the remaining arbitrators proceed without the absent arbitrator. The remaining arbitrators shall explain, in any award made, the reasons for proceeding without the absent arbitrator.
51.4 Unless otherwise agreed by the parties, the Tribunal shall specify in the final award the Registrar’s determination of the costs of the arbitration and the Tribunal’s decision on the apportionment of the costs of the arbitration.
51.5 Subject to any applicable law, the Tribunal may award simple or compound interest from such date, at such rate, and with such rest as the Tribunal considers appropriate, for:
(a) the whole or any part of any sum awarded or sum at issue in the arbitration; and
(b) any costs awarded in the arbitration.
In making its award on interest, the Tribunal shall take into account any agreement by the parties on interest.
51.6 The parties shall be deemed to have agreed that any award shall be final and binding on the parties from the date it is made, and the parties undertake to carry out the award immediately and without delay. The parties hereby irrevocably waive their rights to any form of appeal, review, or recourse to any court or other judicial authority with respect to such award insofar as such waiver may be validly made.
51.7 Unless otherwise agreed by the parties, and insofar as not prohibited by any applicable law, every award shall be final and binding between the parties in respect of the claims, counterclaims, crossclaims, and set-offs determined and, where appropriate, the issues of fact and law that it determines in order to rule on the parties’ claims, counterclaims, cross-claims, and set-offs.
Imported: