ChequeScore – Know the probability of a cheque to bounce
When and Where? Launched earlier this year, the ChequeScore is an innovative tool of Al Etihad Credit Bureau (AECB), aimed at complementing the initiatives of the UAE Government to decriminalize bounced cheques. As of April…
DIAC Arbitration Rules 2022 – A Paradigm Shift For Dubai Becoming A Global Arbitration Hub
The Dubai International Arbitration Centre (DIAC) published its new arbitration rules (DIAC Arbitration Rules 2022 or the “New Rules”) on 2nd March 2022; these are in effect as of 21st March 2022. The 2022 Rules…
Dubai’s New Law on Virtual Assets: The Digital Way Ahead
Most jurisdictions are yet to enact laws or regulations governing cryptocurrencies and non-fungible tokens, leaving much uncertainty in the field. At a time when virtual assets are increasingly becoming a part of business transactions, and…
Approaching Deadline: Amendments to Constitutional Documents of Mainland Companies
The Federal Law by Decree No. 26 2020 (“Decree Law”), issued on November 23, 2020, introduced new provisions amending various aspects of the Federal Law No.2 2015 regarding Commercial Companies (“Commercial Companies Law”). The Decree…
Is the Arbitration Clause included in the General Terms and Conditions of the Insurance Policy a valid clause?
Our client approached us to assist him in filing a case against one of the well-known UAE Insurance Companies. The client complained about his insurance company refusing to cover a surgery under the medical insurance…
Covering the same Risk under Multiple Insurance Policies
The concept of insurance depends on the participation of a group of persons, whether physical or corporate (the insured), that distribute the risks that may result from specific events. The insureds pay pre-determined contributions to…
Dissolution of EMAC and its effects on the business community
On September 14 2021, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, issued Decree No. 34 of 2021 (“Decree”) regarding the Dubai International Arbitration…
Changes in the Consumer Protection Legislation in UAE: everything you need to know
Introduction Offering an augmented revising to the legal structure bordering consumer protection, Federal Law No. 24/2006 on the Consumer Protection (the "Former Law "), has been rescinded and replaced with Federal Law No. 15/2020 on Consumer Protection (the Consumer Protection Law).…
A new committee to settle heirs’ disputes in Dubai
Based on decision No. 8 of 2021, a Special Tribunal was formed to consider and decide upon any applications, claims, discussions, and appeals submitted in terms of selling inherited residential real estate. This special judicial…
