Background Of Arbitration In The UAE: The Basics

Globalisation has led to rapid developments in today's fast-paced corporate world, among which is an increasingly growing interest in arbitration.

Parties would rather resort to this alternative, contract-based form of dispute resolution method than going to the Courts given its numerous advantages. These include but are not limited to its speed, privacy, economy, efficiency, and flexibility when it comes to choosing the applicable laws, regulations and arbitrators. This explains why, more frequently than before, an arbitration clause is being included in contracts. Alternatively, parties may agree on signing a separate arbitration agreement in the event a dispute related to the implementation of their contract arises.