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Beginning the Implementation of New DIAC Arbitration Rules |
The Dubai International Arbitration Centre(DIAC) has begun applying the new arbitration rules to all disputes referred for arbitration in accordance with DIAC rules. The new rules have been issued by Decree No. (11) 2007 upon their approval, and their issuance in the Official Gazette, no. 321 - year (41) on May 7th, 2007. These new rules are considered one of the most modern and developed set of international arbitration rules, due to its inclusion of the best arbitration practices, followed by the top arbitration centers worldwide. These rules are based upon intensive research that was done and approved by the DIAC Board of Trustees, which in itself consists of distinguished arbitrators specializing in the field of international commercial arbitration. The draft was then discussed with the legal department of the Rulers Office, by which it was established through Decree No. (11) 2007, with the approval of the Ruler of Dubai on the 6th of May 2007. The rules came into effect on the date of its publication.
The new DIAC arbitration rules now replace the once applicable Rules of Commercial Conciliation and Arbitration of Dubai Chamber of Commerce and Industry No. (2) of 1994. The latter was applicable to all arbitration cases since 1994 and will continue to be applied to all cases registered with the DIAC before May 7th, 2007.
The new rules are available in both the English and Arabic languages. It was originally drafted in the English language, and after its approval by the DIAC Board of Trustees, it was translated into Arabic, special care being given to the accuracy of its translation.
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