The new rules were announced through a press conference attended by stakeholders
Sharjah, UAE - The Sharjah International Commercial Arbitration Centre (TAHKEEM) organised a press conference on Thursday to announce the recently amended rules, in-line with the centre’s new growth and development strategy. The meeting convened in the presence of HE Abdulla Deaifis, TAHKEEM Executive Committee Chairman, and Ahmed Saleh Al-Echlah, Director of Tahkeem, at the Sharjah Chamber of Commerce and Industry.
The press conference, which brought together members of the taskforce formed by TAHKEEM to amend the centre’s arbitration rules, aimed to brief all parties concerned on the updated framework adopted by TAHKEEM, in-line with best international practices in areas of arbitration. The new rules are premised to streamline arbitration processes and develop an effective mechanism of work for the best interest of all parties concerned.
The conference included a detailed explanation by TAHKEEM’s top executives of the arbitration rules that have been amended and developed recently and which shall be in effect starting next month. The most important of these are the regulations, memoranda, correspondences and timeframes for dealing with arbitration cases and resolutions of disputes, intervention in arbitration cases and mechanisms, procedures for proof, witnesses and hearings, final judgements, correction and interpretation of judgements, mechanism of objection, time limits for determining liability, fees and charges, emergency arbitrators, along with other provisions and articles already amended to improve performance and ensure efficiency at all levels.
HE Abdulla Deaifis welcomed the attendees at the beginning of the meeting and highlighted the strategic plan of the centre, which has been in operation for the past three years. He noted that the centre seeks to disseminate the culture of arbitration among jurists, professionals and businessmen at the local, regional and international levels. He stressed that the plan aims to make TAHKEEM one of the leading arbitration centres sought after by businessmen to resolve their disputes and trade conflicts. He also explained the mechanism of work and how to build strategic relations and enhance joint cooperation with various stakeholders with the objective of developing the centre's internal systems and arbitration rules.
TAHKEEM will continue to hold seminars, training courses, workshops and international conferences on the settlement of commercial disputes, he said, adding that the centre will spare no effort to adopt best international practices and expertise to reach peaceful and efficient settlement for investment conflicts in the best possible professional and expeditious way to the satisfaction of all parties concerned.
He elaborated on TAHKEEM’s internal mechanism of work, statutes, processes and methods adopted to maintain strategic relations with different arbitration entities at the local, regional and international levels through the exchange of knowledge and expertise with leading centres all over the world.
On his part, Ahmed Al-Echlah, Director of TAHKEEM, noted that the centre has developed and modernised its arbitration rules through an experienced and qualified taskforce that is well versed in commercial disputes and the settlement of trade conflicts. He noted that members of the taskforce have amended the rules following a year of rigorous work of benchmarking and application of best practices administered by leading arbitration centres in the world.
The amendments, which were endorsed in late April 2017, will be in effect starting next month, he said, reaffirming that the amendments have been introduced in the best possible professional and transparent manners to reflect the pioneering stature of the centre.
“TAHKEEM’s team, including all members of its executive committee, will spare no effort to survive all challenges as part of our strategy to render the centre one of the most important arbitration entities in the world,” concluded Al-Echlah.
The amendment taskforce comprised of Abdulla Deaifis, Chairman of TAHKEEM Executive Committee, who is also Member of the Sharjah Chamber of Commerce and Industry Board of Directors; Ahmed Saleh Al-Echlah, Director of TAHKEEM; Lawyer Saleh Al Obeidli, Member of TAHKEEM Executive Committee, who is an international sports arbitrator; Mohamed Al Shehi, Member of the Executive Committee and Member of the Sharjah Chamber of Commerce and Industry Board Director; Sami Hawari, Regional Director of International Chamber of Commerce in the Middle East and East and Africa for Settlement of Disputes at the International Chamber of Commerce in Paris; Lawyer and International Arbitrator Tarek Rashid; Lawyer and International Arbitrator Ali Al Hashmi, Lawyer and International Arbitrator, Nasif Abu Melheb; Lawyer Zayed Al Shamsi, who is the Board Chairman of the UAE Bar Association; Dr Galal Al Ahdab, Lawyer and International Arbitrator; Dr Hassan Arab, Lawyer and International Arbitrator; Lawyer Mohamed Al Hammadi.
© Press Release 2017
