UAE’s Arbitration Law 2019
The UAE’s relatively new Arbitration Law (Federal Law No. 6 of 2018 on Arbitration, the “Arbitration Law”) came into force on 16 June 2018. It was inspired by the UNCITRAL Model Law on International Commercial Arbitration and replaced the UAE Code of Civil Procedure’s chapter on arbitration. The new law modernised the UAE’s legal regime for arbitrations conducted in the UAE to bring it in line with international standards and norms. Notwithstanding, issues remain that parties need to be aware of when drafting arbitration clauses.
For USAC’s 38 page proprietary report on 2019 recent arbitration developments in the UAE, contact us below.