In the past ten years, economic prospects for international investors have significantly increased in the UAE. As a result, the laws have been changed by the legislators to include a reliable dispute settlement process. Such dependable institutions are capable of serving the needs of both domestic and international investors.
In the UAE, arbitration or litigation is typically used to settle business issues. At the same time, the most popular and widely used method for settling such conflicts nowadays is arbitration. The nation adheres to the civil law system, with the courts taking an investigative stance.
Arbitration in Commercial Disputes
Arbitration is a recognized legal dispute settlement process. Simply described, it is a process where a disagreement is referred to by one or more arbitrators who render a legally binding ruling on the issue with the parties consent.
Rather than just going to court, private disputes can be resolved through arbitration. When faced with a commercial issue, many individuals choose arbitration over litigation since it is less expensive and time-consuming.
Contacting a reputable dispute settlement & arbitration law company in Dubai is essential when choosing arbitration by the best lawyers in Dubai for the settlement of commercial issues. By doing this, it will be ensured that all procedures and choices are in line with the most recent national legislation.
Arbitration Law in the UAE
There are few regulations for the legal principles of arbitration in the UAE arbitration legislation. A petition for arbitration is filed to start the arbitration, and a power of attorney is typically requested as proof of authorization if attorneys are going to start the arbitration. The additional steps for starting a case will be determined by the arbitration rules.
The Arbitration Law allows parties to freely decide on the actions that will be taken to carry out the agreed-upon rules. The tribunal may follow the arbitration laws and any applicable international treaties’ procedural rules if there is no settlement.
According to arbitration law, an arbitral tribunal may ask a court to compel a party or a third party to provide testimony or produce any documents necessary to resolve the dispute. The arbitrators can order the attendance of experts, witness testimony, and hearings at any point throughout the dispute.
Rules Pertaining to Appeals in UAE’s Courts
Any party who feels wronged by the Court of First Instance’s decision may appeal the matter to the Court of Appeal. The appeal may be made on both legal and factual grounds. Parties additionally have the option to add new arguments and supporting data. All appeals must be submitted within 30 days of the day on which you received the Court of First Instance’s decision. The time limit, nevertheless, may be extended under certain conditions.
The appeal’s filer must provide written justification for the appeal as well as supporting documentation. The court will give notice to the opposing party and schedule a hearing for the respondent’s reply after receiving the appeal. The court will set up additional hearing dates to allow for submissions, and if it is pleased that the case has been properly pled, it will issue a judgment order.
Within 60 days of obtaining the Court of Appeal’s ruling, parties have an additional right to appeal it to the Court of Cassation on legal grounds.
How Does Arbitration Help in Commercial Disputes?
It is usually recommended that the parties involved in any economic issues attempt a peaceful resolution through dialogue or mediation. The parties are then sent to arbitration if neither of these approaches is successful in settling the conflict.
In this situation, the case is presented by all parties to qualified arbitration attorneys providing legal services in Dubai, who carefully evaluate the case with supporting documentation. The arbitrator then renders a judgment in accordance with both domestic and international legal standards. The arbitration ruling may or may not be enforceable in court, depending on the kind.
For a variety of reasons, arbitration is important in the process of settling business disputes. Here are the main explanations:
- It takes less time than litigation.
- It is a more affordable choice than going to court.
- It renders a judgment that is final for both parties in conformity with the applicable legislation.
- It can break a deadlock when parties are unable to reach an understanding via negotiation or mediation.
- A determination is made after carefully examining the arguments of all parties, the specifics of the case, and credible evidence.
Why Do You Need a Lawyer?
Federal Law Number 7 of 2012 on the Expert Evidence before UAE Courts allows for the appointment of outside experts in legal proceedings. The nomination of lawyers is also governed by Federal Law Number 10 of 1992 concerning Evidence Law. Expert lawyers and advocates are typically called upon to provide advice on various issues that call for the right knowledge and abilities, such as financial or technological difficulties. The experts are chosen from a list of experts that is available to all courts. Due to concerns about reciprocal bias, the court does not let the parties choose an expert.
The Final Words
If you ever find yourself in the midst of a significant business dispute, you will need the wise counsel of knowledgeable arbitration attorneys in Dubai.
One of the top legal firms in Dubai for arbitration and conflict resolution is MAAF Legal. Our team of expert arbitration attorneys in Dubai is highly experienced and has participated in arbitrations run by prominent international arbitration organizations for more than 20 years.
Practice Areas
- Commercial
- Corporate
- Dispute Resolution & Litigation
- Banking & Finance
- Insurance & Securitization
- Real Estate & Construction
- Technology & Data Protection
Mai Alfalasi Advocates & Legal Consultancy
1203, Green Tower
Baniyas Street, Deira
Dubai, United Arab Emirates
Phone. +971 4 223 0666
Whatsapp. +971 50 208 9986
Email. info@maaflegal.ae
Office Hours
9.00am to 6.00pm (GST)
Monday to Friday