The new DIAC arbitration rules now replace the once applicable Rules of Commercial. Conciliation and Arbitraion of Dubai Chamber of. Although the Proposed New Rules will be issued by Decree thus having force of law (as is the case with the current DIAC Arbitration Rules. The DIAC has revised and improved its Arbitration Rules. The draft of the new DIAC Arbitration Rules awaits approval before they will have.
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The new DIAC Arbitration Rules
You have not selected a document. This guide, arbitrqtion by Getting the Deal Through GtDTprovides an introduction to investment treaty arbitration in the United Arab Emirates UAE covering topics such as international legal obligations, the regulation of inbound foreign investment, investment treaty practice, investment arbitration history, enforcement of awards against the state and updates and trends. We use this information to analyze trends, ruules administer the Website and our Services, to improve the content and performance of our Website and Services, and to track users’ movements around the site.
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Accept View our cookies policy. Signature of awards The current position regarding the signature of arbitral awards is contained within Article 4 of the Civil Procedure Code.
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This has been widely interpreted as requiring all of the arbitrators to physically sign the award in the UAE; a failure to do this has led to a number of successful challenges to arbitral awards in the UAE.
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Professional legal advice should be obtained before taking or refraining from any action as a result rulrs the contents of this document. The Proposed New Rules have not yet been published and no draft has been circulated as of yet, though excerpts were outlined.
The New DIAC Arbitration Rules
This amendment has caused apprehension amongst practitioners in the region and led to some arbitrators no longer accepting appointments in the UAE for fear of being prosecuted. JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.
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To learn more about this topic, please do not hesitate to contact us. This guidance helps to clarify when DIAC are likely to consider allowing proceedings on an expedited basis, which should bring certainty to local practitioners, although there is no guidance as yet as to what constitutes “exceptional circumstances”.
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Your interactions with our Website and Services: The proposed new rules should bring ameliorated mechanisms of ratification and enforcement of arbitral awards delivered under the auspices of the DIAC. A focus on Southern Africa View all training materials.