According to an agreement regulating the settlement of disputes registered before March 20, 2022

The “London Court” administers disputes heard by the “Arbitration Institution”

The agreement included the funds in the accounts that were owned by the arbitration institution.

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The Dubai International Arbitration Center and the London Court of International Arbitration announced that they have signed an agreement that is consistent with Dubai Government Decree No. (34) of 2021, according to which the “London Court of International Arbitration” will manage all existing dispute and arbitration cases that were considered by the arbitration institution at the Dubai Center International Financial Center, according to the rules of arbitration known as “RULES DIFC-LCIA” (that is, cases that have been registered and work to be settled in the DIFC Arbitration Institution under a specific and specific case number, on or before March 20, 2022), from its center The president is in London.

The two sides also agreed on an organized mechanism for managing the funds and amounts that were paid by the disputing parties, which were in the bank accounts that were owned by the arbitration institution, and are now owned by the Dubai International Arbitration Centre.

Based on the agreement, the Dubai International Arbitration Center will transfer the funds related to the cases and cases to the London Court of International Arbitration, which in turn will spend it on the parties and the beneficiaries directly.

The London Court of International Arbitration will communicate on this matter with the disputing parties and arbitral tribunals as soon as practicable.

As for arbitration and mediation cases for alternative dispute resolution in which the arbitration clause refers to the rules of the arbitration institution, including the special arbitration procedures in which the arbitration institution in the Dubai International Financial Center is required to be the body that appoints the members of the arbitration panel or supervises the procedures;

Which started its proceedings on or after March 21, 2022 under a specific case number (or started its proceedings before March 21, 2022, but was not registered with the DIFC Arbitration Institution under a specific case number), it will be registered and managed directly by the Dubai International Arbitration Center » Through his administrative apparatus.

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