Dubai International Arbitration Centre

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[edit] General Information

  • Official name: Dubai International Arbitration Centre
  • Country: Dubai
  • City: Dubai
  • Type of organization: Independent Organization
  • Date of creation: -
  • Interests: Arbitration
  • Fields of expertise: Commercial disputes

[edit] Description

When a business suddenly finds itself in the midst of a conflict, the logical answer would usually be to find the quickest and cheapest way out. Hence, pursuing the litigation route in this respect, may not always be a wise decision, as in most cases this will entail a longwinded process of countless court appearances and the drafting of endless legal documents. This tempestuous scenario, which has the added danger of further friction erupting between the parties, can easily be avoided through the means of arbitration.

As one of the fastest growing dispute resolution mechanisms in the world, arbitration is highly compatible with the fast pace trend of the modern day business world. With its quick and economical qualities, arbitration is the smart choice to solving a wide range of commercial disputes.

An Arabian oasis infused with modernity, Dubai has the potential to serve the arbitration needs of the global economy. Connecting the East and the West with its prime location, Dubai is a leading business centre in the Middle Eastern region as well as a prime venue for commercial dispute resolution. It has the facilities and services of the world’s major international business centers with all the attractions of a top tourist destination. Dubai also has the added advantage of being superbly served in communication, transport and accommodation. Parties and arbitrators alike can conduct their business in the comfort of luxurious settings.

While emerging as a world centre of expertise in commerce, information technology and finance, Dubai has an enormous pool of experienced professionals from different backgrounds ready to support all kinds of dispute settlements. In addition to local lawyers qualified to advice on Dubai’s legal framework, the Emirate has a wide network of international law firms from several continents, which are readily available to render their consultancy services to international parties.

[edit] Advantages of Arbitration at DIAC

With the soaring global cost of civil litigation, more and more businesses are opting for a varied range of dispute resolution strategies. As a cost effective and expeditious approach guaranteed by law, arbitration has become a popular dispute resolution alternative for conflicting parties.

Parties have a greater degree of freedom over the proceedings and unlike judges; arbitrators come from a variety of professions and trades. A far cry from the harsh publicity surrounding court hearings, arbitral proceedings allows parties to resolve their disputes privately and in confidence.

Once an arbitration proceeding is complete and an award has been issued, that is the end of the matter. Parties do not have to suffer the repercussions of further appeal proceedings based on the merit of the award.

Listed below are some of the many advantages of arbitration and how one can benefit from arbitrating at DIAC.

[edit] Final & Binding Effect of Arbitration Award

Arbitration awards are binding. Once the final award is rendered, the procedure is complete and parties are obliged to comply.

Arbitral awards made under DIAC have the same effect as final and conclusive judgments awarded by courts under the law. As a result of the UAE’s active participation in several regional and bilateral treaties, its arbitral awards are enforceable in many neighbouring Arab states, in addition to other countries worldwide.

The UAE is a member to the New York Convention on the Recognition and Enforcement of foreign Arbitral awards of 1958. This move will widen the international standing of awards made under the DCCI’s Rules of Commercial Conciliation and Arbitration.

[edit] Contact

Dubai Chamber Bldg.14th Floor Bani-yas Road - Deira P.O. Box: 1457 Dubai-UAE

Phone: (+9714) 2028 343/270

Fax: (+9714) 2028 668/451

Email: arbitrationcenter@dcci.ae

Official Website

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