24 June 2021 - Events
The United Arab Emirates (UAE) has adopted a new arbitration law (“Arbitration Law”) based on UNCITRAL's Model Law on International Commercial Arbitration (“Model Law”). The Arbitration Law creates a more efficient timeline for the recognition and enforcement of arbitral awards in the UAE and brings uniformity to the UAE's arbitration rules and those of other countries that have adopted the Model Law. The Arbitration Law applies to arbitrations in the UAE, when UAE law is selected as the governing law for arbitration, and in arbitral disputes based on UAE law. The Arbitration Law replaces the UAE's prior regime, which was based on the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards. For more information see: https://www.newlawjournal.co.uk/content/new-law-new-landscape
This article was written with contributions from Nabeela Latif.