| The legal framework for the operation of the DIFC-LCIA Arbitration Centre (the Centre) has been successfully laid with the recent enactment of the DIFC Arbitration Law.
The new Law enables the recently established Centre to provide neutral, efficient dispute resolution to companies throughout the world, as there is no requirement that disputes have any connection with the DIFC. Parties must simply agree to use the Centre to settle their commercial disputes in order to take advantage of the forum. Subject to a few limited procedural aspects upon which they can expressly agree upon, parties who refer their disputes to the Centre will be bound by the Arbitration Rules established by the forum, a slightly modified form of the LCIA Arbitration Rules. Among the features parties may enjoy under the Arbitration Rules are the choice of nomination of arbitrator, the choice of language of the arbitration proceedings and provisions related to default on the part of either party in relation to the pre-agreed composition of the tribunal. |
