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Consider the following statements regarding Singapore International Arbitration Centre (SIAC).
1. The Singapore International Arbitration Centre (SIAC) is a non-profit international arbitration organisation that administers arbitrations under the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL).
2. Parties will petition SIAC to name an emergency arbitrator to obtain immediate temporary relief under SIAC's laws.
3. In the South Asian zone, India has a track record of referring a small number of cases to SIAC.
Which of the above statements is/are correct?
  • a)
    1 and 2
  • b)
    1 only
  • c)
    1 and 3
  • d)
    All of the above
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
Consider the following statements regarding Singapore International Ar...
  • Singapore International Arbitration Centre (SIAC) is a not-for-profit international arbitration organisation based in Singapore, which administers arbitrations under its own rules of arbitration and the United Nations Commission on International Trade Law (UNCITRAL) Arbitration Rules.
  • According to the 2019 annual report of SIAC, India was the top user of its arbitration seat with 485 cases being referred to SIAC.
  • Under the rules of SIAC, parties can move SIAC to appoint an emergency arbitrator to get urgent interim relief, even as the process of appointment of the main arbitral tribunal is underway.
  • Currently, under Indian law, there is no express mechanism for enforcement of the orders of the Emergency Arbitrator.
  • But, the parties voluntarily comply with the Emergency Award.
  • However, if the parties don’t comply with the order voluntarily, then the party which has won the emergency award, can move the High Court in India under Section 9 of the Arbitration & Conciliation Act, 1996, to get similar reliefs as granted by the Emergency Arbitrator.
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Consider the following statements regarding Singapore International Arbitration Centre (SIAC).1. The Singapore International Arbitration Centre (SIAC) is a non-profit international arbitration organisation that administers arbitrations under the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL).2. Parties will petition SIAC to name an emergency arbitrator to obtain immediate temporary relief under SIACs laws.3. In the South Asian zone, India has a track record of referring a small number of cases to SIAC.Which of the above statements is/are correct?a)1 and 2b)1 onlyc)1 and 3d)All of the aboveCorrect answer is option 'A'. Can you explain this answer?
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Consider the following statements regarding Singapore International Arbitration Centre (SIAC).1. The Singapore International Arbitration Centre (SIAC) is a non-profit international arbitration organisation that administers arbitrations under the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL).2. Parties will petition SIAC to name an emergency arbitrator to obtain immediate temporary relief under SIACs laws.3. In the South Asian zone, India has a track record of referring a small number of cases to SIAC.Which of the above statements is/are correct?a)1 and 2b)1 onlyc)1 and 3d)All of the aboveCorrect answer is option 'A'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about Consider the following statements regarding Singapore International Arbitration Centre (SIAC).1. The Singapore International Arbitration Centre (SIAC) is a non-profit international arbitration organisation that administers arbitrations under the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL).2. Parties will petition SIAC to name an emergency arbitrator to obtain immediate temporary relief under SIACs laws.3. In the South Asian zone, India has a track record of referring a small number of cases to SIAC.Which of the above statements is/are correct?a)1 and 2b)1 onlyc)1 and 3d)All of the aboveCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding Singapore International Arbitration Centre (SIAC).1. The Singapore International Arbitration Centre (SIAC) is a non-profit international arbitration organisation that administers arbitrations under the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL).2. Parties will petition SIAC to name an emergency arbitrator to obtain immediate temporary relief under SIACs laws.3. In the South Asian zone, India has a track record of referring a small number of cases to SIAC.Which of the above statements is/are correct?a)1 and 2b)1 onlyc)1 and 3d)All of the aboveCorrect answer is option 'A'. Can you explain this answer?.
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