Arbitration in UAE and how to choose the best arbitration law firm
Arbitration is a popular form of dispute resolution in the United Arab Emirates (UAE) which provides for speedy and efficacious resolution of commercial disputes through several arbitration institutions which administer commercial arbitrations. The UAE had introduced Federal Law No. 6/ 2018 on Arbitration which sets out mandatory and default rules applicable under local law including but not limited to enforcement of interim and final awards, as well as sets out the rules and procedures for conducting arbitral proceedings in the UAE. This law applies to all disputes arising from commercial transactions unless they fall within the exclusive authority of the UAE courts. The UAE is also a signatory to the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, which eases the recognition and enforcement of arbitral awards issued in other signatory states. Further progress was made in the field of arbitration when the UAE Civil Procedure Code was amended in order to facilitate the recognition and enforcement of Foreign Arbitral Awards. The UAE is also party to Arab Convention on Judicial Co- operation (Riyadh Convention) as well as international treaties like Agreement of Execution of Judgements, Delegations and Judicial Notifications in the Arab Gulf Cooperation Council Countries (GCC Treaty) So, if you are looking for one of the best arbitration law firms in Dubai, it is recommended to read the article further.
Legislative Framework pertaining to Arbitration in the UAE
Dubai Decree No 34 of 2021 abolished the Emirates Maritime Arbitration Centre and the DIFC arbitration institute and transferred all the powers of the same to DIAC which administers arbitration under the DIAC Arbitration Rules 2007 and until recently the DIAC Arbitration Rules 2022. Abu Dhabi Conciliation and Arbitration Center administers arbitration under the procedural regulations of ADCCAC. Other major arbitration institutions in UAE are Sharjah International Commercial Arbitration Center (Tahkeem, Ras Al Khaimah Centre for Reconciliation and Commercial Arbitration, IICRA and ICC.
Arbitration in the UAE
Arbitration is a method of resolving disputes outside of the court system. It involves the appointment of one or more impartial individuals, called arbitrators, to hear the evidence and arguments of the parties and to make a binding decision (arbitral award) to resolve the dispute. The decision of the arbitrator is legally binding and enforceable in the same manner as a court judgment. Arbitration can be used to resolve a wide range of disputes, including commercial, employment, construction, real estate and consumer disputes, among others. It is often referred to as court litigation due to its flexibility, confidentiality, and speedier resolution process. If you need expert guidance to help you with this, Hessa Al Hammadi Advocates & Legal Consultants LLC-SO would be the best one to help you out.
Using arbitration as a means of resolving disputes can be an amazingly effective way to avoid going to court while still coming to a legally binding and enforceable agreement. The advantages of arbitration are many. Few benefits of hiring arbitration lawyers in Dubai are listed below.
Speedy remedy in case of Commercial Disputes
Did you know that it can take two to five years for a court to hear the average case? The fact that arbitration moves quickly is one of its primary and most often mentioned advantages. Particularly in contrast to protracted legal proceedings. The parties will hold an arbitration hearing within a year of filing for arbitration. For straightforward disputes, that period is even shorter. In some circumstances, it is also possible to speed up the hearing and resolution of disputes. Of course, the fact that parties will typically be eager to settle disputes makes this one of the top benefits of using an expert arbitration firm.
Flexible Planning
When your dispute goes to court, you are bound by the overworked, overburdened court schedule. There is no chance of having a hearing at the time of your choice because courts often run behind schedule. The ability of the parties to schedule discovery and hearings according to their convenience is one advantage of arbitration law firms in Dubai.
This is extremely important because parties often have other obligations and important business to attend to and cannot be expected to change their plans at short notice. Furthermore, a lot of arbitrators even work around scheduling conflicts caused by things like personal & business obligations and vacation plans. That is not the case in courts because they are unable to accommodate everyone’s personal schedules with their current infrastructure.
Discretion and Confidentiality
One benefit of using arbitration is that your dispute can remain out of the public eye, in contrast to litigation processes through the court system, which is open to the public and is a matter of public record. Confidentiality can be guaranteed through arbitration, and both parties can be sure that the proceedings will be discreet and will not attract any unwanted attention, unfavorable press, or outside attention.
Additionally, the arbitration filings themselves are confidential. Even the court’s filings are available to the public. A specialized arbitration firm shall keep your dispute out of the public eye, in contrast to litigation processes through the court system, which is open to the public and is a matter of public record. Confidentiality can be guaranteed through arbitration, and both parties can be sure that the proceedings will be discreet and will not attract any unwanted attention, unfavorable press, or outside attention.
Cost Factors
Arbitration is a process that moves much more quickly than the public court system. Naturally, parties involved will pay less if their hearing is hastened. Litigation expenses can accumulate over years and end up being expensive. Parties can avoid many customary procedures in arbitration, including discovery, conferences, motion practice, and hearing time. This results in enormous cost savings and significantly reduced legal costs.
Power to make Decision on Choice of Arbitrator
One may choose their own arbitrator in arbitration. The procedure differs from standard court hearings in that it does not require the selection of an anonymous jury.
Knowledge & Experience
An arbitrator has a deep ability in a particular field and expert command over the subject matter in an arbitration proceeding. At Hessa Al Hammadi Advocates & Legal Consultants LLC-SO, the lawyers are experts in dispute resolution and are certified arbitrators from arbitral institutions like IICRA and several other arbitration bodies.
Simplicity
Arbitration clearly has advantages over the public court system in terms of the rules requiring the production of evidence and the annulment of the cumbersome filing procedures. Oral evidence is permitted in arbitration, whereas only written submissions are generally permitted in courts. Also, generally the arbitral awards have limited ground for appeals.
Language
Arbitration does have choice of language wherein it can be carried out in English language whereas the court litigations are mostly carried out in Arabic.
Predictability
Experienced arbitration lawyers in Dubai are aware that there is no magic ball to predict the verdict. Because arbitrators will apply the facts presented in a way that proves their legal ability, there is a better chance of knowing how the case is progressing with the arbitration.
Conclusion
Hiring a professional arbitration firm specializing in arbitration and other effective forms of alternate dispute resolution mechanisms in Dubai, shall save time, money and serve to provide quick and efficacious remedies for commercial dispute resolution. We welcome you to meet us at Hessa Al Hammadi Advocates & Legal Consultants LLC-SO and discuss your legal requirements elaborately in case there is an ongoing or foreseeable commercial dispute which requires you to invoke the arbitration clause in your arbitration agreements.
It is recommended that you call the experts to arrange a meeting with our lawyers and advocates. They can assist you with the best attorneys in Dubai or Abu Dhabi. Visit http://nhalhammadi.com/en/ for more information.
