The Latest DIAC Arbitration Rules 2022 – A Progressive Approach towards International Arbitration
HANI AL JASMI ADVOCATES & LEGAL CONSULTANTS
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DIAC Arbitration Rules 2022 has come into effect where all the upcoming arbitration disputes in Dubai shall be considered by Dubai International Arbitration Centre (DIAC) only. It is interesting to note that the previous DIFC-LCIA system has been abolished and brought under the single framework under DIAC.
The ongoing disputes under the DIFC-LCIA regime shall be continued to be governed by the DIFC-LCIA rules.
The progressive changes have come into light with more parties choosing dispute resolution in the region as opposed to conventional litigation strategies. This is primarily due to the choice that is available to parties, ease and convenience with respect time and efforts among other reasons.
The said DIAC rules also support Dubai’s aim to place itself as a prominent arbitration hub at an international level.
The new DIAC Arbitration Rules 2022 allow for consolidation of matters to a single dispute based on the contracts available and the parties involved provided that the contracts to the dispute are compatible and the parties are the same to the dispute. Further, third parties can be added to the dispute as additional claimants or respondents.
Some other notable provisions under the new DIAC Arbitration Rules include emergency proceedings for interim relief and ability to recover legal fees.?
The new DIAC Arbitration Rules have been enacted predominantly based on the UNCITRAL Model Law on International Commercial Arbitration and has increased the scope and flexibility of dispute resolution mechanism in the Emirate.