A Quick Guide aboutthe Dubai Arbitration Law

There are a growing number of commercial organisations that prefer arbitration to other dispute resolution methods. Because of this, it’s important to get professional advice on Dubai arbitration law before you submit a dispute to one or more arbitrators who are in charge of making a binding decision.

The popularity of arbitration in Dubai has led to the institution of several entities that govern commercial arbitration, including:

·         The Emirates Maritime Arbitration Centre (EMAC)

·         The Sharjah International Commercial Arbitration Centre (Tahkeem)

·         The Ras Al-Khaimah Centre for Reconciliation and Commercial Arbitration

·         The Dubai International Arbitration Centre (DIAC)

·         The DIFC London Court of International Arbitration (DIFC-LCIA) Centre

·         The Abu Dhabi Conciliation and Arbitration Centre (ADCCAC)

Why arbitration is preferred in Dubai

Dubai arbitration law allows two parties to settle a dispute privately instead of taking it to court. Unlike litigation, arbitration offers:

·         Confidentiality - All arbitration proceedings are confidential unless the parties agree otherwise. In addition, these proceedings can only happen if both parties have agreed to it.

·         Flexibility- Arbitrations can be conducted in English, or any other language as agreed on by both parties.

·         Neutrality - Parties are allowed to appoint arbitrators with the appropriate experience to deal with disputes that require technical knowledge.

The limitations of Dubai arbitration law

Despite the advantages of choosing arbitration instead of litigation in Dubai, it’s important to understand that it does have several limitations. For example, arbitration is generally more expensive, requiring you to spend on the tribunal and administrative fees.

In addition, arbitration awards must first be ratified by the courts before they are enforced. This leads to delays and extra costs, which may only make matters worse. Dubai arbitration lawalso prohibits labour disputes, registered commercial agency disputes, and public policy disputes from being resolved through arbitration.

If you seek advice regarding corporate, commercial, and financial arbitration, the guidance of an experienced arbitration lawyer is necessary. Make sure to find lawyers with experience in both local and international arbitration, providing reliable services related to arbitration proceedings!

Comments

Post a Comment

Popular posts from this blog

5 Tips for Finding the Best Divorce Lawyer in Dubai

A divorce is never easy; it’s an emotionally challenging time for both parties. It’s always best to have a lawyer who specializes in family law represent you during this hard time.  There are two types of divorce under Shariah Law: revocable and irrevocable. Divorce lawyers in Dubai can tell you more about each type. Here is a quick comparison: A revocable divorce allows both parties to maintain a valid marriage for three months until the divorce is finalized and concluded. An irrevocable divorce ends the marriage there and then. In comparison with other countries, the divorce cases in UAE are not simple and unambiguous, it certainly requires specialization of a legal representative. If you plan on getting a divorce, you need the help of an expert. Divorce lawyers in Dubai   have specific knowledge and skills to handle these types of cases. Here are a few tips on finding the best ones: Find a divorce lawyer who has dealt with cases similar to yours. Not every situation is the ...
Read more

0A Comprehensive Guide on Cyber Crime in UAE

  Cybercrime refers to any criminal activity that either targets or uses a computer and a network. Most cybercrime cases revolve around hackers—whether individuals or entire organizations—who want to make money online in illegal ways. In the United Arab Emirates, cyber-attacks gained traction a few years back, around 2013. Many fell victim to malware, Tor networks, and banking Trojans. Because of this, laws governing cybercrime in the UAE are strictly enforced. Here is a quick guide on what you need to know about cybercrime in the UAE: Who is considered a cybercriminal in the United Arab Emirates? Individuals who hack websites and accounts for entertainment purposes Individuals or organizations who use their skills for illegitimate financial gains Individuals or organizations who use the cyber world for revenge What are the penalties and punishments for violating UAE cybercrime laws? Illegal access to an electronic site Article 2 of the New Cyber Crime Law prohibits any individual ...
Read more

Tips on What to Expect from Lawyers in Abu Dhabi

Lawyers in Abu Dhabi hold a unique position and are capable of helping individuals, groups, or even organizations to deal with their legal problems. Variations can be there in the case of one person to another. Some may need help in a criminal case or some in a family law case. On the other hand, it can be for any legal issues which need the intervention of the law. As a client, you must have certain expectations from the lawyer you hire. So, what exactly can you expect from a lawyer in Abu Dhabi? Excellent listener : You can expect your lawyer to be a good listener. It is one quality that will encourage the lawyer to patiently take note of the case details to decide the next line of action. Good communication : Excellent communication skill is something which you can expect from your lawyer. He/she will be representing your case in court and against your opponent. Excellent communication skill is an asset for a lawyer. Competency and professionalism : When you appoint a ...
Read more