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 Approved by the Ruler of Dubai and issued in the local Official Gazette, they superseded the rules from The DIAC Arbitration Rules.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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Previously, legal fees were not considered recoverable on the basis of the Dubai Court of Cassation’s decision in Case No. The Proposed New Rules have not yet been published and no draft has been circulated as of yet, though excerpts were outlined. They also give the possibility of control over draft awards, which did not previously exist. This change is linked to promulgation of a new Arbitration Law of the United Arab Emirates earlier this year.
Although it remains to be seen arbutration effective such proposals will be xrbitration practice, i. The Proposed New Rules make it clear that parties’ legal fees i.
Power to sanction counsel? This is a preliminary overview based on the discussions that took place during Dubai Arbitration Week. 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.
To learn more about this topic, please do not hesitate to contact us. The implication of this change is potentially two-fold: The Proposed New Rules also expressly recognise that parties’ legal fees can be financed by way of third party funding. This applies to arbtration where the amount in dispute is less than AED2 million. If such a power of the Tribunal includes the power to sanction counsel as opposed to partiesthis raises the issue of whether the Tribunal has the jurisdiction over counsel to take any steps to comply with the sanctions.
Nabeel Ikram Partner Dubai. Download International Arbitration Brochure. Although the Proposed New Rules will be issued by Decree thus ruless 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: These revised rules also contain provisions on emergency arbitrators, third-party funding disclosure and expedited arbitration proceedings.
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.
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THE DRAFT DIAC RULES | Herbert Smith Freehills – Arbitration notes
The main version of the rules is in English. Each arbbitration these proposed amendments is likely to be welcomed by practitioners and parties. Perhaps most importantly, in light of the recent arbitfation, i. Aceris Law LLC is a leading international arbitration boutique law firm that provides legal representation for commercial, construction and investment arbitrations in all jurisdictions. In the end ofthe DIAC announced its intended publication of new arbitration rhles.
We’d be happy to talk. We would therefore hope to see the finalised rules published in early Article 4 of the CPC has been widely interpreted and recognised as requiring arbitrators to render the award within the UAE, with signing of the award physically taking place in the UAE. Accept View our cookies policy.
The New DIAC Arbitration Rules 2018
This latest version remains unpublished, but it should rles the latest mechanisms and procedures already applied by other arbitral institutions, reflecting current best practice. Legal fees and third party funding. Approved by the Ruler of Dubai and issued in the local Official Gazette, they superseded the rules from Many of the proposed amendments are intended to make arbitration under the DIAC Rules more efficient and userfriendly. The proposed new rules should bring ameliorated mechanisms of ratification and enforcement of arbitral awards delivered under ryles auspices of the DIAC.
A party can, either by agreement or application to the DIAC Executive Committee, request that the arbitration be dealt with on an expedited basis.