The new Rules seek to enhance the user experience and raise the bar on efficiency, expedition and cost effectiveness. Some of the key proposed changes include: 

• a new stream lined procedure to provide quicker and lower-cost dispute resolution for claims up to S$1 million. Under this procedure, claims will, among other things, be heard by a sole arbitrator and decided on the basis of written submissions (with no document production or fact or expert witness evidence) and the final award will be issued within three months of the date of the tribunal’s constitution; 
• a new preliminary determination procedure, which will permit parties to apply for preliminary determination of issues. Under this procedure, the tribunal must, unless the registrar extends the deadline, make a decision within 45 days of the date that the application is filed; 
• an increased claims cap of S$10 million for the expedited procedure, which will expand the number of users and types of disputes that can benefit from this procedure; 
• amendments to accelerate emergency arbitration proceedings; among other things, by allowing an emergency arbitration application to be filed prior to the notice of arbitration, reducing the time frame to challenge an emergency arbitrator from two days to 24 hours, and reducing the timeline for making the award from 14 days to 10 days from the date of the emergency arbitrator’s appointment; 
• changes to the procedure for the commencement of arbitration and constitution of the tribunal. For example, it will be enough to provide only a description of the contract and arbitration agreement; a copy of the contract and the arbitration agreement need not be furnished together with the notice of arbitration. Parties will also no longer need to nominate an arbitrator in the notice of arbitration and the response to the notice of arbitration; it will suffice to provide any comment as to the number of arbitrators and procedure for the constitution of the tribunal; 
• provisions to streamline consolidation and joinder to facilitate the hearing of multi-contract and multi-party disputes before the same tribunal. For instance, a new provision will permit the consolidation of two or more pending arbitrations ‘under SIAC’s administration’. The grounds for consolidation will also be expanded to include a situation where the arbitration agreements are ‘compatible’ and ‘a common question of law or fact arises out of or in connection with all the arbitrations’. In addition, it will be possible for two or more arbitrations to be ‘coordinated in cases where a common question of law or fact arises’ and be heard together and aligned procedurally, with the tribunal issuing separate awards in each arbitration;  
•  provisions on third-party funding. For instance, requiring a party to disclose the existence of any funding agreement and the identity of the third-party funder; and the incorporation of SIAC. Gateway, the SIAC’s new digital case management system, which centralises case documents on an electronic platform

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From SIAC

VTA’s Model Arbitration Clause: “Mọi tranh chấp phát sinh từ hoặc liên quan đến hợp đồng này sẽ được giải quyết bằng trọng tài tại Trung tâm Trọng tài Thương nhân Việt Nam (VTA) theo Quy tắc tố tụng trọng tài của Trung tâm này”. “Any dispute arising out of or in relation with this contract shall be resolved by arbitration at the Vietnam Traders Arbitration Centre (VTA) in accordance with its Rules of Arbitration”.

The Vietnam Trade Arbitration Center (VTA) is responsible for organizing and coordinating the resolution of business disputes through institutional arbitration, with jurisdiction over disputes including: (i) disputes arising from commercial activities between parties; (ii) disputes involving at least one party engaged in commercial activities; and (iii) disputes as prescribed by law to be resolved by arbitration.