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 Approved by the Ruler of Dubai and issued in the local Official Gazette, they superseded the rules from The DIAC Arbitration Rules.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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The main version of the rules is in English. 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.
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The New DIAC Arbitration Rules 2018
The DIAC Arbitration Rules have undergone fewer revisions than the rules of other major international arbitration institutions. Aceris Law LLC is a leading international arbitration boutique law firm that provides legal representation for commercial, construction and investment arbitrations in all jurisdictions.
This latest version remains unpublished, but it should encompass the latest mechanisms and procedures already applied by other arbitral institutions, reflecting current best practice. In the end ofthe DIAC announced its intended publication of new arbitration rules.
Each of these proposed amendments is likely to be welcomed by practitioners and parties. Accept View our cookies policy. To learn more about this topic, please do not hesitate to contact us.
Although the Proposed New Rules will be issued by Decree thus having force of law as is the case with dixc 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. They also afbitration the possibility of control over draft awards, which did not previously exist.
We’d be happy to talk. We will provide a more comprehensive analysis of the draft rules at our Annual Middle East Dispute Resolution Seminar on 11 December and indeed, a more definitive analysis of the Proposed New Rules once they are enacted. These revised rules also contain provisions on emergency arbitrators, third-party funding disclosure and expedited arbitration proceedings.
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DIAC Arbitration Rules
If such a power 20007 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. 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.
The implication of this change is potentially two-fold: The Proposed New Rules make it clear that parties’ legal fees i.
Perhaps most importantly, in light of the recent developments, i. 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 arbiitration, relating to: 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 how effective such proposals will be in practice, i.
The Proposed New Rules have not yet been published and no draft has been circulated as of yet, though excerpts were outlined. Nabeel Ikram Partner Dubai.