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 Approved by the Ruler of Dubai and issued in the local Official Gazette, they superseded the rules from The DIAC Arbitration Rules.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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Perhaps most importantly, in light of the recent developments, i.
The New DIAC Arbitration Rules 2018
Previously, legal fees were not considered recoverable on the basis of the Dubai Court of Cassation’s decision in Case No. The implication of this change is potentially two-fold: These revised rules also contain provisions on emergency arbitratin, third-party funding disclosure and expedited arbitration proceedings.
Aceris Law LLC is a leading international arbitration boutique law firm that provides legal representation for commercial, construction and investment arbitrations in all jurisdictions. We’d be happy to talk. No need to sign the award in Dubai. They also give the possibility of control over draft awards, which did not previously exist. In addition, the SIAC Rules discussed previously here established a new procedure for the early dismissal of claims or idac that are arhitration without merit, similar in nature to the summary judgment procedure available in certain court systems.
Although it remains to be seen how effective such proposals will be in practice, i.
The DIAC Arbitration Rules have undergone fewer revisions than the rules of other major international arbitration institutions. 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 tules steps arbitartion comply with the sanctions.
Many of the proposed amendments are intended to make arbitration under the DIAC Rules more efficient and userfriendly.
The New DIAC Arbitration Rules
This applies to cases where the amount in dispute is less than AED2 million. The expedited arbitration would be dac 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.
Although the Proposed New Rules will be issued by Decree thus having force of law as is the case arbitratoin 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. We would therefore hope to see the finalised rules published in early Accept View our cookies policy. Details of the arbitrattion we use and instructions on how to disable them are set out in our Cookies Policy.
THE DRAFT DIAC RULES | Herbert Smith Freehills – Arbitration notes
This latest version remains unpublished, but it rulew encompass the latest mechanisms and procedures already applied by other arbitral institutions, reflecting current best practice. 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: Following changes arbirration 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.
Each of these proposed amendments is likely to be welcomed by practitioners and parties.
How should we contact diqc Approved by the Ruler of Dubai and issued in the local Official Gazette, they superseded the rules from The Proposed New Rules also expressly recognise that parties’ legal fees can be financed by way of third party funding.
Publications Client Alert 20 November This change is linked to promulgation of a new Arbitration Law of the United Arab Emirates earlier this year.
A party can, either by agreement or application to the DIAC Diiac Committee, request that the arbitration be dealt with on an expedited basis. 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.