Dubai, UAE – The Dubai International Arbitration Centre (DIAC) proudly introduces its modern Mediation Rules, setting a new standard in alternative dispute resolution amidst an evolving commercial landscape.
DIAC’s commitment to meeting the dynamic needs of the business community is evident with this step. These rules align with the latest dispute resolution benchmarks and solidify Dubai’s reputation as a global hub for reliable alternative dispute resolution.
Jehad Kazim, DIAC Executive Director, remarked on the significance, “Mediation is deeply rooted in numerous cultures, and introducing these mediation rules marks a milestone in our institutional growth and our determination to merge time-honoured traditions with modern techniques. We aim to pioneer and lead, ensuring our services are in sync with today’s dynamic business world.”
A standout feature of the new rules is the promise of confidentiality. DIAC guarantees clear timeframes for resolutions and provides industry-specific mediators, ensuring the unique requirements of every sector are expertly met.
Globally, the traction mediation has gained is noteworthy. Recent data highlights a surge in commercial disputes opting for mediation. With international endorsements such as the Singapore Convention, the value and effectiveness of mediation are further emphasised. Reported settlement rates in regions like the U.S. hover around 70%, and commercial mediation has reportedly saved businesses substantial amounts in the UK.
The official launch was marked at a special event that showcased profound discussions steered by Gemma Nemer, CEO of Falcon & Associates. Panellists Graham Lovett, DIAC Board of Directors Member and Partner at Akin Gump Strauss Hauer & Feld LLP, Mohammed AlSuwaidi, DIAC Arbitration Court Member and Managing Partner of Alsuwaidi & Company LLC, and Wolf Von Kumberg, DIAC Advisory Committee Member, Independent Mediator and Arbitrator Arbitra International, shed light on the new rules and the future of mediation.
Event’s Key Takeaways:
- Confidentiality and Efficiency: DIAC’s rules prioritise confidentiality, making it an ideal choice for discerning businesses.
- Industry-specific Mediation: Businesses can expect resolutions tailored to their unique sectoral challenges.
- International Recognition: The global embrace, particularly the Singapore Convention, underscores mediation’s rising importance.
- Pioneering in the UAE: DIAC’s Mediation Rules herald a new era of advanced dispute resolution in the UAE.
Established in 1994, the Dubai International Arbitration Centre (DIAC) is the region’s foremost alternative dispute resolution (ADR) institution, delivering ADR services beyond the confines of judicial courts. With an unwavering dedication to offering unparalleled alternative dispute resolution services, DIAC’s newly revamped court, broadened board of directors, and the introduction of new Arbitration Rules in 2022 further strengthen its esteemed stature. Visit http://www.diac.com for more information.