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 Approved by the Ruler of Dubai and issued in the local Official Gazette, they superseded the rules from The DIAC Arbitration Rules.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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Aceris Law LLC is a leading international arbitration boutique law firm that provides legal representation for commercial, construction and investment arbitrations in all jurisdictions. Each of these proposed amendments is likely to be welcomed by practitioners and parties. Many of the proposed amendments are intended to make arbitration under the DIAC Rules more efficient and userfriendly. How should we contact you? The implication of this change is potentially two-fold: A party can, either dizc agreement or application to the DIAC Executive Committee, request that the arbitration be dealt with on an expedited basis.
The Proposed New Rules also expressly recognise that parties’ legal fees can be financed by way of third party funding. Accept View our cookies policy.
DIAC Arbitration Rules
This is a preliminary overview based on the discussions that took place during Dubai Arbitration Week. The proposed new rules should bring ameliorated mechanisms of ratification and enforcement of arbitral awards delivered under the auspices of the DIAC. We set out below our initial thoughts on the main outlined changes of the Proposed New Rules.
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.
In addition, the SIAC Rules discussed previously here established a new procedure for the early dismissal of claims or defences that are obviously without merit, similar in nature to the summary judgment procedure available in certain court systems. We would therefore hope to see the finalised rules arbitratoon in early Approved by the Ruler of Dubai and issued in the local Official Gazette, they superseded the rules from This applies to cases where the amount in dispute is less than AED2 million.
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.
The New DIAC Arbitration Rules
The Proposed New Rules have not yet been published and no draft has been circulated as of yet, though excerpts were outlined. 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. Previously, legal fees were not considered recoverable on the basis of the Dubai Court of Cassation’s decision in Case No.
The New DIAC Arbitration Rules 2018
They also give rulss possibility of control over draft awards, which did not previously exist. 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 diax place in the UAE.
To learn more about this topic, please do not hesitate to contact us. Legal fees and third party funding. This latest version remains unpublished, but it should encompass the latest mechanisms and procedures already applied by other dac institutions, reflecting current best practice.
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DIAC Arbitration Rules
Publications Client Alert 20 November Perhaps most importantly, in light of the recent developments, i. Both of these new rules introduced measures dic to make arbitration more efficient and cost-effective, in each case by including new provisions, or clarifying existing ones, relating to: Although it remains to be seen how effective such proposals will be in practice, i.
Download International Arbitration Brochure. The main version of the rules is in English. Power to sanction counsel? 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 arbitrationn in line with modern arbitration practice and to ensure its offering remains competitive. In the end ofthe DIAC announced its intended publication of new arbitration rules.