ADR IN THE UAE: NEW ARBITRATION RULES PROPOSED BY DIAC
One of the most significant global trends in the world of alternative dispute resolution (ADR) in recent years has been the increasing popularity of arbitration as the preferred means of resolving complex, high-value international disputes. One offshoot of this favour is that arbitration is susceptible to developments in international ADR best practice.
One example of the international ADR community’s sway is the Dubai International Arbitration Centre’s (DIAC) decision to amend its arbitration rules – a resolution first announced by the DIAC during Dubai Arbitration Week in November 2017. Last updated in 2007, the rules were deemed by the DIAC’s board of trustees and executive committee to no longer be in sync with the innovations and best practices in arbitration that have taken root across the globe over the past decade.
According to Baker & McKenzie Habib Al Mulla, the key objectives of the Draft Rules are to: (i) maintain the procedural economy of the arbitration process to ensure that the process is conducted in a transparent and cost-efficient manner; and (ii) facilitate and enhance the enforcement of DIAC awards pending the promulgation of the long-awaited UAE arbitration law. Moreover, the changes are designed to ensure the efficient conduct of DIAC arbitrations, not only during the arbitration process, but also at the time of ratification and enforcement of DIAC awards – elements of crucial importance to the international business community.
Apr-Jun 2018 issue
Fraser Tennant