The Future of Virtual Assets in Dubai
Introduction: Back in 2021, at “Connect 2021” conference, the Facebook founder Mark Zuckerberg had announced a new era in social media history, via his new project, named, MetaVerse (“Meta” or “MetaVerse”) that is a wide-ranging and interoperable network of 3D virtual worlds, where these worlds are presented in real time, they can be tried simultaneously …
The Seat of Arbitration & Its Significance
Introduction The seat of arbitration, not to be confused with the geographical location of arbitration hearings, is an important aspect in both international and domestic arbitrations, and one that is often overlooked or not given proper consideration.
Principles of Anti-Money Laundering and Combatting the Financing of Terrorism
Introduction and Applicability of the Regulations Money laundry is a process by which the source of illegal funds is disguised to allow its unsuspicious expenditure by mitigating the risks associated with jeopardizing the source of such illicit funds. Often, terrorist and illegal organizations utilize laundered money to fund themselves and their operations. Hence, both activities …
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UAE’s New Federal Law on Countering Rumors and Cybercrimes– Key Amendments
The UAE Federal Law by Decree No. 34 of 2021 (the “New Law”) on Countering Rumors and Cybercrimes was introduced in the UAE amongst the new legislative introductions in light of UAE’s 50th anniversary which has now come into force on January 2nd, 2022. The New Law is a reform of the repealed Federal Law …
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The Concept of Dispute in the UAE Courts
Overview: Generally, filing a case is deemed to be the right to resort to litigation and/or courts to seek and to protect a legal position claimed by the claimant(s) against the defendant(s), conditional to the satisfaction of the capacity of the parties of the said proceedings (the “Case”).
The Notice Period Under UAE Federal Decree by Law No. (33) of 2021 Regulating Labour Relations.
Background The UAE’s labor laws and regulations have undergone immense changes in the past few years that cater to the ever-growing market demands and its accompanying legal framework. Federal Decree by Law. (33) of 2021 (“2021 law”) which repeals Federal Law No. 8/1980 Concerning the Regulation of Labor Relations has introduced significant changes entering into …
Work patterns under the Federal Labour Law
Background: The Covid-19 pandemic and its global implications and fluctuations (the “Covid-19 Implications”) have negatively affected the global economy; however, the said pandemic highlighted several positive points that could not have been raised without the pandemic and the virus exposure all over the world. One of the most important positive points resulted from the Covid-19 …
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Benefit of Justice Principle in Arbitration
Introduction: The Benefit of Justice Principle is deemed a well-established fundamental principle that is frequently applied by courts in different legal systems either common law or civil law courts (the “Benefit of Justice Principle”).
THE APPLICABILITY AND ENFORCEABILITY OF CONDITIONAL CLAUSES IN THE CONSTRUCTION CONTRACTS UNDER THE UAE LAWS
INTRODUCTION “Conditional Payment Clauses” also generally known as “back to back provisions” commonly form part of the construction contracts[1] in the UAE and are frequently incorporated therein. Generally speaking, such provisions are a common feature of the sub-contractor’s / sub-consultant’s payment terms[2], and subject the payment of the sub-contractor/ sub-consultant to a suspensive condition, e.g. …
UAE Arbitration Law and Public Policy In Relation To The Perspective of Arbitrability Example Of That Concept
The UAE regime governing arbitration was fundamentally altered in 2018. Prior to that date, arbitration was governed under Articles 203 to 218 of the UAE Civil Procedures Law (Book 2).