New UAE arbitration law good news for finance parties
The new UAE arbitration law came into effect on 16 June 2018. It significantly updates and improves the onshore UAE’s arbitration regime, and should give commercial parties more confidence when choosing to arbitrate disputes onshore in the UAE.
The new law has immediate application to all current arbitrations with an onshore UAE seat (regardless of when the arbitration began). The new law is a welcome development within the arbitration community, both in the Middle East and internationally