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Arbitration is a form of Alternative Dispute Resolution (ADR) where disputes can be resolved out of courts. Here the dispute is decided by the arbitrators and the decision becomes legally binding on both parties unless agreed otherwise. This process of arbitration is widely used in commercial proceedings and transactions due to its swift nature in comparison to the general judicial proceedings. Some of the prominent arbitration centers in the UAE are The Dubai International Arbitration Centre (DIAC), DIFC London Court of International Arbitration (DIFC-LCIA) and Abu Dhabi Conciliation and Arbitration Centre (ADCCAC).
The Dubai International Arbitration Centre (DIAC)
The DIAC is a large-scale arbitration canter that offers facilities on an international level in the region. It is independent from both the Government of Dubai and the Dubai Chamber and is located in the heart of Dubai.
Arbitration proceedings in DIAC
Then DIAC administers arbitration under the DIAC Arbitration Rules 2007 (DIAC Rules) replacing the Rules of Commercial Conciliation and Arbitration of Dubai Chamber of Commerce and Industry No. (2) of 1994.
The arbitration proceedings prescribed by the DIAC can be described in three main stages:
Commencement
The Arbitration Law provides that proceedings are commenced on the day following the day the tribunal is constituted, unless otherwise agreed between the parties. Arbitration is commenced by filing of a request for arbitration. DIAC Arbitration Rules govern the commencement procedures for arbitration. Important administrative guidelines are as follows:
The Request
The Tribunal
The important aspects with respect to the tribunal are as follows:
Proceedings
The important aspects with respect to the proceedings are as follows:
The DIAC is the largest arbitration center in the Middle East. It offers facilities on an international scale. The proceedings of the DIAC in terms of arbitration have been formulated on an international standard. Arbitration is becoming increasingly popular in the UAE and the DIAC is continually offering world class proceedings for the same. Some Law Firms in Dubai exclusively specialise in dispute resolutions or arbitration process at the AIAC.
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