The Singapore International Arbitration Centre (SIAC) has revealed that the average cost of arbitration at the centre is S$109,729 ($80,337), while the average duration is 13.8 months.

The data was gathered from 98 cases commenced and administered under the SIAC Rules 2013 during the period from Apr. 1, 2013 to July 31, 2016 where a final award was issued.

Of course, there is a difference in costs between arbitrations involving a sole arbitrator and those involving three. The former costs S$53,418 on average, compared to S$211,089 for the latter.

The total costs of arbitration included SIAC’s administration fees and expenses as well as the tribunal’s fees. However, legal fees and other costs, emergency arbitrator’s fees, costs of challenges, and the tribunal’s expenses and applicable taxes were excluded in the study.