Introduction
The United Arab Emirates with USD 37,600 per capita GDP is
considered one of the most suitable countries for investment. The
UAE has an open economy, high per capita income, stable political
environment and pro-investment legislations promoting confidence
among the business community. To ensure the constituting confidence
of investors, UAE has recently passed new standalone arbitration
law (the Federal Arbitration Law Number 6 of 2018) which is on the
lines of UNCITRAL Model Law on International Commercial Arbitration
1985.
Arbitration is one of the most preferred mechanisms of dispute
resolution among the business community because of its
transnational nature and the ability to resolve complex disputes
while staying away from country-specific politics. The
international commercial arbitration helps to resolve disputes,
with individual parties from different countries remaining free
from local jurisdiction (compared to national courts). Arbitration
is
