A Study Of The Arbitration Regime In UAE
Despite UAE’s success in recent reforms, there are still some relics from the old regime. In addition, the UAE’s courts continue to refine the parameters of the Federal Arbitration Law, which has been in force for two years. As such, the practice of international commercial arbitration in the Middle East is still perceived to be in its infancy. However, the trend toward arbitration looks set to continue. Visit shit site to find reliable arbitration lawyers in Dubai for your needs.
The recent amendments to the UAE Arbitration Law, enacted in 2018, make the practice of arbitration in the UAE more similar to global arbitration practice. The law includes procedures for onshore and offshore arbitrations and allows for electronic signatures. The Federal Arbitration Law applies to all legal relationships that fall under UAE laws, except cases excluded by special provisions. The Arbitration Law is based on the UNCITRAL Model Law. It also makes it clear that disputes arising from the Abu Dhabi Global Market Free Zone and Dubai International Financial Centre will not be subject to the Arbitration Law.
Another aspect of the UAE’s Arbitration Law is its flexibility. For example, the Tribunal may determine the rules of evidence and procedure for the arbitration or direct a meeting place for the hearing witnesses. It also has the discretion to determine whether the evidence is relevant. In other words, it must ensure that the evidence does not violate the fundamental principles of litigation or offend an international agreement. Similarly, the Tribunal can award litigation costs in a case. It also has the authority to set aside an award if it is contrary to the public policy of the UAE.
In addition to the mandatory procedures and flexibility of the UAE’s Arbitration Law, UAE has been working on updating the legislation governing arbitration in the Middle East. The government aims to ensure that UAE remains a serious forum for international commercial disputes. In addition, the country’s local courts are also becoming more pro-arbitration. This has led to an increase in the number of LCIA and ICC clauses in commercial contracts. The number of LCIA and ICC clauses negotiated in construction contracts has increased significantly.
