A form of alternative dispute resolution (ADR) is a way to resolve the dispute outside the courts. The parties into a dispute refer it to arbitration by one or more persons (the “arbitrators”, “arbiters” or “arbitral tribunal”); agree therein to be bound by the arbitration decision (the “Award”). A third party reviews the evidence in the case and imposes a decision that is legally binding on both sides and enforceable in the courts. Arbitration is a proceeding in which a dispute is resolved by an impartial adjudicator whose decision the parties to the dispute have agreed, or legislation has decreed, will be final and binding
The Dubai International Arbitration Centre (DIAC) recommends parties, desiring to resolve their disputes under the DIAC Arbitration Rules, to include the below stated Arbitration in their agreements:
