UAE arbitration law in effect as of 16 June 2018
The resolution of commercial disputes by arbitration in the UAE is set for a major upgrade, with immediate effect from 16 June 2018.
The new UAE Arbitration law (Federal Law No. 6 of 2018 on Arbitration in Commercial Disputes) expressly repeals the law governing arbitration in the UAE since 1992 and implements a modern law based on the internationally recognised and accepted UNCITRAL Model Law.
Designed to attract further foreign direct investment into the UAE, the law firmly reinforces the UAE’s place as the most progressive market for doing business in the Middle East.
It is immediately applicable to all existing arbitrations, regardless of their date of commencement and, importantly, the new law will not invalidate any aspect of proceedings that took place before it came in to effect.
In our comprehensive analysis of the new law, we explain the extent to which the new law addresses issues troubling arbitration in the past and whether it potentially introduces new uncertainties.
For further information on the new law, please contact Bill Smith or Maria Mazzawi in our Dubai office, or your usual international arbitration contact at Pinsent Masons.