The Dubai International Arbitration Center (DIAC) has opened an office in the Dubai International Financial Center (DIFC).
The launch of the new office follows a recently signed cooperation deal between DIAC and the Dispute Resolution Authority that allows for a quicker arbitral award enforcement process.
An initiative of Dubai Chamber of Commerce and Industry, DIAC provides commercial arbitration services and facilities for regional and international businesses. The center, whose offerings are available at an affordable price, can accommodate a variety of arbitration proceedings and features highly-qualified arbitrators. The center has helped enhance Dubai’s legal environment since its creation in 1994.
“DIAC’s new representative office in the DIFC provides arbitration parties with a nexus to the DIFC and thereby facilitates the enforcement of arbitral awards through the DIFC courts,” DIAC Board of Trustees Chairman Habib Al Mulla said. “Accordingly, the parties will now have a choice as to whether to enforce their DIAC awards through the DIFC Courts or through the local Dubai Courts, depending on which forum best meets their needs. In addition, the parties will be able to look to the DIFC Courts for support during a DIAC arbitration, as well as after.”
