Dubai’s International Arbitration Centre (DIAC) has announced it has finalised its new Arbitration Rules.
They were finalised following a review by its Arbitration Court.
A dedicated task force consisting of regional and international arbitration practitioners and members of their Secretariat drafted the new rules.
The new rules contain provisions dealing with consolidation, joinder, expedited proceedings, alternative process for appointing arbitrators and exceptional proceedings, like emergency arbitrator and conciliation.
In addition, legal fees will now be part of arbitration costs and could be claimed by the parties to the arbitration.
The rules will come into force on 21 March 2022.
They will apply to all new requests for arbitration and exceptional procedures submitted after this date.
The new rules reflect the latest international arbitration developments and evolving business needs.
They aim to improve the efficiency of arbitration procedures and ensure users benefit from multiple enhancements.
The Centre has also announced it Arbitration Court has formally been established. The Court replaces the Centre’s Executive Committee and assumes responsibilities for undertaking general supervision of the alternative dispute resolution services offered and supervising the management of all cases administered by the Centre.
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