Dubai International Arbitration Centre launches new 2022 Arbitration Rules
As part of its efforts to cement Dubais position as a global alternative dispute resolution hub, the Dubai International Arbitration Centre (DIAC) has finalized its new 2022 Arbitration Rules. Following review by the Arbitration Court of the DIAC, the new Rules were approved by the DIACs Board of Directors at a board meeting held on 25 February 2022.
The new Rules were drafted by a dedicated task force comprising regional and international arbitration practitioners, and members of the DIACs Secretariat. The new Rules reflect the latest developments in the field of international arbitration, as well as the evolving needs of the business community, and are aimed at improving the efficiency of the arbitration procedures and ensuring that the users would benefit from a wide range of additions.
Dr. Tariq Humaid Al Tayer, Chairman of the DIAC Board of Directors highlighted that the new Rules align with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to position DIAC as one of the worlds top 5 arbitration centres in the next three years.
Our priority in the coming years is to strengthen DIACs position as a leading centre for settling disputes locally, regionally, and globally, by enhancing arbitration practices and standards, which will in turn improve the ease of doing business in Dubai.The changes to the rules are a major step forward in terms of reinforcing Dubai's position as a global centre for arbitration. said Dr. Al Tayer.
Dr. Ahmed Bin Hazeem, Vice Chairman of DIAC and President of the Court of Arbitration noted that the task force took into account the demands of the arbitration community and that the new rules provide a framework for efficient dispute resolution. Aligned with the UAE Arbitration Law, DIACs new Arbitration Rules reflect the digitalization of the businesses in the post Covid-era, Dr. Bin Hezeem added, describing the new Rules as an added value in line with the best practices in arbitration.
Provisions of the new Rules were designed to streamline arbitration procedures and facilitate the time efficiency of the proceedings, while maintaining a balance between autonomy of the parties and empowering the arbitrators to manage cases efficiently.Most notable additions to the new Rules are the provisions dealing with consolidation, joinder, expedited proceedings, alternative process for appointing arbitrators,as well as exceptional proceedings, such as emergency arbitrator and conciliation. Much-anticipated, legal fees are now part of the arbitration costs and could be claimed by the parties under the new Rules.The new Rules, to be found on DIAC website: www.diac.ae, will come into effect starting 21 March 2022 and will govern all new requests for arbitration and exceptional procedures submitted after this date.
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