Dubai: The Dubai International Arbitration Centre (DIAC) finalised new rules for 2022. The latest rules will focus on streamlining arbitration procedures and facilitate the time efficiency (speedup) of the proceedings.
Key additions to the new rules are the provisions dealing with:
- Expedited proceedings;
- Alternative process for appointing arbitrators;
- Exceptional proceedings such as emergency arbitrator and conciliation.
The legal fees are now part of the arbitration costs and could be claimed by the parties under the new rules.
“Our priority in the coming years is to strengthen DIAC’s position as a leading centre for settling disputes by enhancing arbitration practices and standards, which will in turn improve the ease of doing business in Dubai,” said Dr. Tariq Humaid Al Tayer, Chairman of the DIAC Board of Directors. “The changes to the rules are a major step forward in terms of reinforcing Dubai's position as a global centre for arbitration.”.
A dedicated task force comprising regional and international arbitration practitioners, and members of the DIAC’s Secretariat drafted the new rulebook.
The new Rules reflect the latest developments in the field of international arbitration, as well as the evolving needs of the business community. It is aimed at improving the efficiency of the arbitration procedures and ensuring that the users would benefit from a wide range of additions.
The new rules were approved by the DIAC’s Board of Directors at a board meeting held on February 25.
“Aligned with the UAE Arbitration Law, DIAC’s new Arbitration Rules reflect the digitalization of the businesses in the post Covid-era,” said Dr. Ahmed Bin Hazeem, Vice Chairman of DIAC and President of the Court of Arbitration.
The new arbitration rules will come into effect starting March 21, 2022 and will govern all new requests for arbitration and exceptional procedures submitted after this date.
New board members
The DIAC also announced the appointment of its Arbitration Court, established in accordance with the Statute of the DIAC, issued by Decree No. 34 of 2021 of the Government of Dubai concerning the DIAC. The Arbitration Court replaces the Executive Committee of the DIAC and assumes its duties of undertaking general supervision of the ADR services offered and supervising the management of all cases administered by the DIAC.
The members of the Arbitration Court were confirmed by the DIAC’s Board of Directors and include:
- Dr. Ahmed Bin Hazeem Al Suwaidi (President)
- Ahmed Mohamed Al Rasheed;
- Jehad Abdulrazzaq Kazim;
- Graham Kenneth Lovett;
- Justice Shamlan Al Sawalehi;
- Mohammad Rashid Al Suwaidi;
- Dr. Mansoor Al Osaimi;
- Dr. Yousef Al Suwaidi; and
- Gemma Nemer
Recently, the Centre was named as one of the top ten centers in the world by the International Arbitration Survey conducted jointly by the White & Case law firm and Queen Mary University of London.
In 2021, His Highness Sheikh Mohammed bin Rashid Al Maktoum issued a decree dissolving the Emirates Maritime Arbitration Centre (EMAC) and the Dubai International Financial Centre Arbitration Institute, and merging their operations and assets into DIAC.