Following Decree No. 34 of 2021 concerning the Dubai International Arbitration Centre (the “Decree”), which effectively (i) abolished the Emirates Maritime Arbitration Centre and the DIFC Arbitration Institute (under which the DIFC-LCIA was operating); and (ii) provided for the Dubai International Arbitration Centre (the “DIAC” or the “Centre”) to substitute both institutions by directing the transfer of all rights and obligations of the abolished centres to the DIAC, the DIAC has now issued its new rules.
One of the biggest risks on any construction project is non-payment. This article sets out contractual measures to mitigate non-payment risks and describes “self-help” remedies to obtain payment under United Arab Emirates (“UAE”) law.
The COVID-19 pandemic has created an exponential increase in the number of virtual arbitration hearings, including in the Middle East.
Although emerging markets offer a wealth of investment opportunities, political instability and government responses to adverse events present risks for foreign investors. This article considers key dispute risks related to “force majeure” events in emerging markets, using Mozambique and Bangladesh as examples, and suggests mitigation measures for those risks.