he role of arbitration is growing rapidly in the corporate and industrial sectors in the recent years. Investors and companies have noticed the need to govern their contracts and the disputes that may arise from those contracts to an internationally recognised arbitration centres. They intend to protect their interests (and resources
) by this step. We cannot specifically state that arbitration is cheaper than litigation these days. However, arbitration provides corporate entities with the option of personalising dispute resolution.
You may ask how. Arbitration provides the parties with the option of choosing the specific arbitration centre and their rules. This means that the parties do not necessarily have to refer their dispute to the litigation (legal) system of that particular jurisdiction. Arbitration is, therefore, a speedier process that provides investors with multiple options.
Arbitration centres in the United Arab Emirates (UAE) such as Dubai International Arbitration Center (DIAC)…