Open dialogue discusses details of commercial arbitration

Published November 18th, 2009 - 02:34 GMT

An initiative of Dubai Chamber of Commerce & Industry, the Dubai International Arbitration Center (DIAC) organized an open dialogue at the Chamber premises on Wednesday. This second meeting of the year came after the success of the first roundtable discussion held in February and provided an opportunity for the participants to discuss issues directly with the Executive Committee of the Center.

Addressed by speakers including Professor Martin Hunter, Chairman, DIAC Board of Trustees, Dr Nael Bunni, Chairman, DIAC Executive Committee and its members Michael E Schneider, Dr Fathi Kemicha, Dr Tarek Fouad A. Riad, and Dr Hussam Talhuni, Director, DIAC, and was attended by arbitrators, practitioners, in-house counsels, litigators, judges, lawyers, government officials and personnel involved in dispute resolutions.

Delegates at the open dialogue discussed a range of important topics relating to commercial arbitration and neutrality, notably transparency and fairness in the arbitration, and how to accept the
appointment of arbitrators, and the number and quality of cases registered in the Dubai International Arbitration Center.

The Chamber’s and DIAC’s organisation of the roundtable was in line with Dubai Chamber’s mission that aims at protecting the interests of Dubai business community and helping widen the scope of its
members’ businesses with their international partners according to the set principles and procedures of international arbitration which is today one of the most important means of resolving commercial disputes in the world.

Dr Talhuni pointed out that the meeting came as part of a series of open dialogues that explain arbitration processes and its benefits for the business community by identifying obstacles commercial arbitration faces in the UAE. The meeting also provided a platform for the participants to get their queries answered by experts in the field.

Said Dr Talhuni: "The open dialogue highlighted the policies adopted by the Center and the world class services that it offered including consultancy on the concept of arbitration and international transactions as well as the different laws and definitions applicable in global transactions besides the unique opportunity it provided to the attendees to discuss various arbitration issues with the board of trustees of the Center.”

He further stressed that the outcome of the open dialogue will be discussed at the board of trustees meeting being held in the Center premises today (Thursday) as the top officials will also review the services offered by the Center as well as the latest trends and amended laws in the area of global commercial arbitration so as to serve the business community better.

First created in 1994 as the "Centre for Commercial Conciliation and Arbitration", the current Dubai International Arbitration Centre (DIAC) is an autonomous, permanent, non-profit institution. DIAC supplies facilities for conducting commercial arbitration, promotes the settlement of disputes by arbitration, develops a pool of arbitrators in the practice of international arbitration, appoints arbitrators, chooses a venue and fixes fees of arbitrators and conciliators. Located in Dubai Chamber, the Centre provides the regional and international business communities with an exclusive service at affordable rates. 

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