New Law for Dubai Center
01-Sep-2008
MANAMA – United Arab Emirates (UAE) Vice-President and Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum has enacted the new Arbitration Law of the Dubai International Financial Center (DIFC), according to the Bahraini Gulf Daily News.
The Law will enable the recently established DIFC- London Court of International Arbitration (LCIA) Arbitration Center to provide neutral, efficient and reliable dispute resolution services to companies throughout the world.
The enactment of the Law will help DIFC position itself as a world-class center for arbitration.
The Arbitration Law covers all stages of the arbitral process, from the arbitration agreement to the recognition and enforcement of arbitral awards.
The Law offers a comprehensive and modern set of rules and procedures to enable effective settlement of arbitration cases.