Fast Facts: Arbitration Lawyers In Dubai Explained.

Arbitration is an alternate form of dispute resolution, where parties opt out of approaching the local courts and the litigation process and instead settle matters privately. Most countries allow arbitration orders to be ratified by the courts, granting them legal legitimacy. Arbitration also reduces backlog of cases in the local courts and enables parties to reach quicker resolutions. 

Dubai businesses often choose arbitration in case of disputes as they allow flexibility in due process and procedures, while being faster and cost effective. It also allows confidentiality as businesses can keep sensitive information out of public records. Additionally, international businesses choose Dubai as the place of arbitration, due to the cosmopolitan nature of the city, and the ease of business. Dubai has also set up institutions such as the Dubai International Arbitration Center (DIAC), which helps in the streamlining of the processes. Let us look at the significance of arbitration lawyers in Dubai. 

Expertise in the filed 

Due to the exposure to the large number of international arbitrations that are carried out in the UAE, Dubai Arbitration lawyers have been able to gather extensive experience in the field.  They handle cases across various sectors including construction, banking, real estate, Intellectual Property, international trade and business, energy and many more. 

Knowledge of local laws 

Arbitration lawyers in Dubai are also deeply familiar with the local laws, which enable them to effectively secure the interests of their clients. Although many think that arbitration lawyers do not need expertise in local laws, this knowledge is key to ensure the validity, and outcome of arbitration proceedings. Knowledge of local laws is also particularly important while enforcing arbitration decisions. 

Industry Specific Knowledge 

Dubai arbitration lawyers have also developed an expertise in specific industries, making them extremely effective in dealing with disputes in those areas. Sectors such as real estate, information technology, construction, Intellectual properties witness a high number of arbitration disputes. Resolving them requires a certain amount of technical knowledge. Certain arbitration lawyers have carved out a niche in these industries helping them understand the nuances of the disputes that may be missed by others. 

Experience in International Arbitration 

Due to the global nature of arbitration disputes, arbitration lawyers are required to have knowledge of various international legal systems particularly with regard to business law, so as to provide effective legal representation in complex arbitration cases. Knowledge of international law is also required in cases where arbitration awards are required to be enforced across borders. 

Conclusion

Arbitration lawyers have been integral in ensuring effective dispute resolution for businesses and individuals in Dubai, increasing trust and legitimacy in the Arbitration process. Due to their dedication to the field, Dubai has fast emerged as a leading center for international arbitration, across the globe.