All About Arbitration - The Draft Federal Arbitration Law

The role of arbitration has recently taken a new direction as a result of current challenges facing economies globally. The slowdown in the world economic order has no doubt given rise to the number of commercial disputes, bringing the importance of the arbitration process as an integral dispute resolution mechanism to the forefront.

With the UAE becoming a prominent domestic and international arbitration hub, and its arbitral centres reflecting a standard of international best practice, the legal community has been waiting patiently for a Federal Arbitration Law to complete the arbitration wheel. Such a law will provide guidance and clarity to the arbitration procedure in a country where arbitration is exponentially growing and proving a favourable seat for parties to resolve their arbitration disputes.