As of May 7th , the new DIAC arbitration rules have come into effect. approval by H.H. the Ruler of Dubai on the 6th of May , and. Approved by the Ruler of Dubai and issued in the local Official Gazette, they superseded the rules from The DIAC Arbitration Rules. As of May 7th , the new DIAC arbitration rules have come into effect. 11 upon their approval by H.H. the Ruler of Dubai on the 6th of May , and .
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Accept View our cookies policy. They also give the possibility of control over draft awards, which did not previously exist. Previously, legal fees were not considered recoverable on the basis of the Dubai Court of Cassation’s decision in Case No.
DIAC Arbitration Rules
The implication of this change is potentially two-fold: No need to sign the award in Dubai. Download International Arbitration Brochure. If such a power of the Tribunal includes the power to sanction counsel as opposed to aritrationthis raises the issue of whether the Tribunal has the jurisdiction over counsel to take any steps to comply with the sanctions. Legal fees and third party funding. The Zrbitration New Rules have not yet been published and no draft has been circulated as of yet, though excerpts were outlined.
Although the Proposed New Rules will be issued by Decree thus having force of law as is the case with the current DIAC Arbitration Rulesin the hierarchy of laws, the CPC would still have supremacy over the Decree, raising doubts over the compatibility of this proposed provision. Both of these new rules introduced measures designed to make arbitration more efficient and cost-effective, in each case by including new provisions, or clarifying existing ones, relating to: The main version of the rules is in English.
This change is linked to promulgation of a dica Arbitration Law of the United Arab Emirates earlier this year. This latest version remains unpublished, but it should encompass the latest mechanisms and procedures already applied by other arbitral institutions, reflecting current best practice.
A party can, either by agreement or application to the DIAC Executive Committee, request that the arbitration be dealt with on an expedited basis. Although it remains to be seen how effective such proposals will be in practice, i. Power to sanction counsel? How should we contact you?
The New DIAC Arbitration Rules
We would therefore hope to see the finalised rules published in early To learn more about this topic, please do not hesitate to contact us. Article 4 of the CPC has been widely interpreted and recognised as requiring arbitrators to render the award arbitratiion the UAE, with signing of the award physically taking place in the UAE. Aceris Law LLC is a leading international arbitration boutique law firm arbitrationn provides legal representation for commercial, construction and investment arbitrations in all jurisdictions.
Approved by the Ruler of Dubai and issued in the local Official Gazette, they superseded the rules from These revised rules also contain provisions on emergency arbitrators, third-party funding disclosure and expedited arbitration proceedings.
The Proposed New Rules make it clear that parties’ legal fees i. We’d be happy to talk. The expedited arbitration would be decided by a sole arbitrator and on the basis of written submissions only, with shortened deadlines being imposed on the parties and a final award being issued within three months of referral under this procedure.
The Proposed New Rules also expressly recognise argitration parties’ legal fees can be financed by way of third party funding. Many of the proposed amendments are intended to make arbitration under the DIAC Rules more efficient and userfriendly.
This applies to cases where the amount in dispute is less arbktration AED2 million. Each of these proposed amendments is likely to be welcomed by practitioners and parties. Following changes brought in by a number of other arbitral institutions including the DIFC-LCIA Arbitration Centre, the Dubai International Arbitration Centre is to amend its Arbitration Rules to bring them in line with modern arbitration practice and to ensure its offering remains competitive.