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Arbitration in the UAE: Trends & Highlights

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I joined Clyde & Co Dubai in 2002 and at that time, it was pretty rare to actually have any type of domestic arbitration. It was mainly international. Although DIAC had been established, what you would tend to see in contracts is Dubai Chamber of Commerce and Industry clauses, which were not very well known or heard of. And it took some time for that then to change. What we would see is ad-hoc arbitrations, which are administered by the court which were less than ideal. So there's been some significant changes over the last 17 years in terms of the increase in use of domestic arbitration and the confidence levels that clients now have. Now fast-forwarding to the last year, what we have seen is an increase in arbitration across all of the sectors that we work in, so in terms of Real Estate, Hospitality, TMT, Healthcare in particular, Logistics and Defence. Those are the areas that we have kind of been very active in with arbitration and the reason for that is we have seen that clients obviously have the confidence to include domestic arbitration clauses within their agreements and that’s obviously when those contracts come to maturity, which can take a good few years, we then see the increase in arbitrations. So we have been very fortunate that we have been involved in the Middle East Deal Studies over the past eight years and our most recent one which was launched this year, looked at about 80 transactions over the last few years and basically pulled together some insights, practical information that basically has helped clients and ourselves understand the trends in the market which is very useful to have. And what we found from a dispute resolution perspective is that there has been an increased use of DIFC-LCIA clauses within those contracts and also English law as well as DIFC law. English law used to be the law of choice but there has now been an increase in confidence in DIFC law also being a popular choice of law. And that just shows that international parties have the confidence in arbitration in the region and also in the DIFC laws as well, which shows that basically there is an increase in appetite to litigate and arbitrate here, which is very positive.

Video Details

Duration: 2 minutes and 43 seconds
Language: English
License: Dotsub - Standard License
Genre: None
Views: 0
Posted by: clydecomarketing on Nov 20, 2019

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