The New DIFC Arbitration Law opens way to DIFC

In today's current economic climate, parties are increasingly turning away from the courts to resolve disputes, in favour of alternative dispute resolution procedures such as arbitration. Businesses in Dubai too are seeing the advantages of arbitration over litigation. This demand has led to widespread arbitration law amendments in Dubai in order to align the country with the world’s leading arbitration centers. Dubai now has two modern arbitral institutions (a) the Dubai International Arbitration Centre (the DIAC); (b) the newer DIFC-LCIA Arbitration Centre. As the name implies, the DIFC-LCIA Arbitration Centre is essentially a joint venture between the DIFC and the London Court of International Arbitration (LCIA), one of the leading players in the arbitration world.

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