DIAC Arbitration Rules 2022
On 2 March 2022, the Dubai International Arbitration Center (“DIAC”) issued new arbitration rules (“DIAC Rules 2022”) which came into effect on 21st March 2022. The DIAC Rules 2022 were issued in aftermath of Decree No. 34 of 2021 (“Decree”), which abolished the Emirates Maritime Arbitration Centre (EMAC) and the DIFC Arbitration Institute (DAI), which in turn effectively led to the dissolution of DIFC-LCIA, another arbitration center, in favor of a consolidated and standalone arbitration center: DIAC. The DIAC Rules 2022 abolished the earlier rules (Rules 2007) and embraced several of the modern features of arbitration to strengthen the center’s position as one of the leading global arbitration centers. A brief summary of the changes brought about the by DIAC Rules 2022 and their effect on arbitration proceedings will be discussed in this legal briefing.