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DIAC opens DIFC office

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DIAC opens DIFC office

Published: Tue 4 Oct 2016, 8:08 PM

Last updated: Wed 5 Oct 2016, 12:06 AM

The Dubai International Arbitration Centre (DIAC), an initiative of Dubai Chamber of Commerce and Industry (Dubai Chamber), inaugurated its first promotional representative office in the Dubai International Financial Centre (DIFC), allowing parties involved in to turn to either the DIFC Courts and the Dubai Courts in order to enforce their arbitration awards.
The opening ceremony was attended by Essa Kazim, governor, Dubai International Financial Centre, and members of the Board of Trustees of DIAC.
"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," said Dr Habib Al Mulla, Chairman of the Board of Trustees of DIAC.
"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."
He added: "This reinforces the UAE Government's commitment to providing a variety of efficient and specialist alternate dispute resolution mechanisms." - business@khaleejtimes.com

By Staff Report

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