Construction Contracts form an Integral Part of the Economy and Development of the UAE
Abstract
The United Arab Emirates, one of the GCC countries, has legislated the Arbitration laws under the UAE Civil Procedure Code (Federal Law No. 11 of 1992). However, it is still very controversial whether these regulations where codified in accordance in accordance with the international best practice. The United Arab Emirates is essentially a civil law jurisdiction heavily influenced by French, Egyptian and Islamic law. As the UAE has established itself as a regional hub for international business, arbitration is gradually becoming a popular method of dispute resolution. On the other hand, parties may commence Arbitration by petition to the UAE federal courts on the basis of mutual consent (a written arbitration agreement), independently (by nomination of arbitrators), or through a referral to an appointing authority without recourse to judicial proceedings. Enforcing arbitration judgments rendered in the UAE can be difficult as they require court certification, and judicial proceedings may continue for several years. Some companies are reportedly unwilling to resort to arbitration out of concern that it would affect their future business opportunities in the UAE.
Copyright & permissions
