A form of alternative dispute resolution (ADR) is a technique for the resolution of disputes outside the courts. The parties into a dispute refer it to arbitration by one or more persons (the “arbitrators”, “arbiters” or “arbitral tribunal”); agree therein to be bound by the arbitration decision (the “award”). A third party reviews the evidence in the case and imposes a decision that is legally binding on both sides and enforceable in the courts. Arbitration is a proceeding in which a dispute is resolved by an impartial adjudicator whose decision the parties to the dispute have agreed, or legislation has decreed, will be final and binding.
With the introduction of the DIFC Arbitration Law 2008, the DIFC has developed a legislative platform for comprehensive dispute resolution. The Arbitration Law is based on the UNCITRAL Model Law on International Commercial Arbitration, and covers all stages of the arbitral process, from the arbitration agreement to the recognition and enforcement of arbitral awards. The Law also covers all aspects of legislation necessary to accommodate the unique set-up of the DIFC’s jurisdiction and legal framework and to overcome any hurdles presented by the region’s unique market conditions and dynamics. The Arbitration Centre’s adherence to international practices and the familiarity, efficiency and flexibility this offers – makes it attractive to the international business community.
The new Arbitration Law makes it clear that the DIFC courts are bound by the terms of any applicable treaties for the mutual enforcement of judgments, orders or awards which the UAE has ratified, including the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (the New York Convention).
AREAS OF EXPERTISE
- Disputes regarding sale and purchase agreements and construction
- Disputes regarding sale of goods, commodities and distributorship
- Private International Law Issues
- Enforcement of general and foreign awards
- Sports Contracts
- Joint Venture Disputes