DIAC Statistics 2022
The Dubai International Arbitration Centre (DIAC) released its 2022 Annual Report, outlining a new vision and strategic plans. The report underscores growth in case volume and diversity in dispute origins.
340 cases registered in 2022, showing a 20-23% annual growth.
44%of cases involved international disputes, with parties from 48 countries.
$3.1billion USD in total case value, with major disputes exceeding $270 million USD.
- 38% success rate for employees in arbitration, compared to 11% in litigation.
- 42% win rate for consumers in arbitration, versus 29% in lawsuits.
- $444,134 average award for employees in arbitration, higher than $407,678 from lawsuits.
If you’re looking for an experienced arbitration lawyer to assist you with your case, contact us, and we’ll find you the top arbitration lawyer in the UAE.
Understanding UAE Arbitration Law
The court's decision underlines the significance of contractual practices in the UAE's legal landscape. It emphasizes that parties must conduct thorough due diligence when drafting agreements, especially those involving arbitration clauses. By ensuring compliance with public policy and local regulations, businesses can mitigate the risk of disputes arising from contract nullity or invalid arbitration clauses. This proactive approach not only safeguards the interests of all parties involved but also promotes legal certainty and stability in commercial transactions within the UAE.
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