Unlocking eSignature Legitimacy for Arbitration Agreement in UAE

How to eSign a document: eSignature legitimacy for Arbitration Agreement in UAE

what are the recent changes in arbitration in the ua two seconds and we jump into the answer [Music] my name is maria rubert lawyer and arbitrator hello everyone i'm very happy to share with you the recent developments this end of the year uh arising out of the 34th of 2021 pretty much uh the shake woke up one morning and i'm sure it didn't happen like this but i tell you this way for you to understand how we lifted those that are dedicated to the field of arbitration we woke up one morning and we had decreed 34 of 2021 pursuant to which the the difc lcia a major arbitration center in the in the uae had been abolished how could that happen pretty much the dye was eliminated and as such the difclcia which was hanging underneath so what was to happen well the decree set forth that arbitrations being handed handled by the ifc lcia would be transferred to to the act the dubai international arbitration center what are these centers the diac is the dubai international arbitration center which was formed under the auspices of the dubai chamber of commerce today is uh run and operates independently but the their office is in the 14th floor of the dubai chamber and it's been in functioning for for significant long time since the the end of the 90s 1990s then we have the difclcia which came to dubai later later after the creation of the difc us as a free zone after the setup of the difc courts we received the ifc lcia which started as every arbitration center with a small cases why because as we as you know if you if you if you are interested in arbitration arbitration starts with an arbitration clause therefore when a new center is set up the job is to is is to ensure that lawyers and practitioners plague arbitration clauses with in the event that there is a conflict the conflict will be solved under the arbitration rules of the new arbitration center it is true that now in the arbitration center the dfclca has been abolished we could say that it was rock climbing their cases had been had been increased for the last few years consistently so the move it's surprising it is surprising but it is what it is the government of dubai what they want to do is make emphasis and make a real hub surrounding the the the diac the dubai international retracement center but nowadays the the lcia the london court of international arbitration that operates and still operates with the ongoing cases and as as a partnership with the dic the ifc lcia is under discussion of course with the government of dubai because this has been quite a last-minute decision so we'll see what happens i do uh i do have a world of caution for those clients and and and and those companies or individuals that have right now contracts uh with an arbitration clause selecting the difc lcia it's been announced the disappearance has been announced it's been it's been ebola it's been abolished as of today so perhaps before there is a conflict arising you may want to amend that arbitration clause to select other arbitration clause it seems logical to think that um that clauses selecting the dfc lcia would be handled by the act but there is a big a big question mark as to whether that arbitration will fall within the agreement of the parties that's the only recommendation that we can make so far that contracts that have arbitration clauses with the afc lcia perhaps you may want to revise them to truly select an arbitration an arbitration institution that will be up and running when the conflict arises i hope that this post this video helps you especially if you are considering considering to start a business in the uae if you are considering to sign a contract with a ua flavor and and you have a preference for arbitration if you have learned a little bit please do like my video please do subscribe to my channel and follow me on social media to get to the information to new information as soon as it is out don't forget that you can shoot your questions and i will be very happy to address them thank you very much [Music]