Maritime trade has been carried out since ages, and it remains to be the backbone of the world economy by hauling around 80 to 90% of world trade. UAE being the place in between Asia and Europe has been a natural port. UAE is bordering the Gulf of Oman and…
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‘‘ It is of fundamental importance that justice not only be done, but should manifestly and undoubtedly be seen to be done’’. …
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Extension of Time in Construction Contracts The construction contracts are generally prepared as per Fédération Internationale des Ingénieurs-Conseils (the FIDIC) red books 1987 and 1999, yellow book and silver book contract forms specifically in UAE to deliver projects. The legal provisions applying to such contracts are UAE Civil Code, Federal…
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INTERNATIONAL AGREEMENTS GOVERNING THE ENFORCEMENT OF FOREIGN JUDGMENTS IN THE UAE To continue with our previous article, the second part deals with the various agreements in place between the United Arab Emirates and various countries and how they are enforced. We have looked at multilateral and bilateral agreements separately…
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We have already highlighted in a previous article1 the fact that the Federal Law no. 18 of 19812 , also known as UAE Commercial Agency Law (the Law), has a protectionist approach favoring the Agent, defined therein as “A natural person holding the nationality of the state, or a juridical…
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“In a world that’s changing so quickly, you are guaranteed to fail, if you do not take any risks” …
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Diageo, a company more commonly associated with alcoholic beverages Smirnoff, Guinness and Johnnie Walker in the United Kingdom- held almost 27.8 percent stakes in a company called United Spirits Limited, one of the leading spirits company in the Indian market by volume. A series of share pledges by United Spirits…
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Joint venture is an agreement between two or more parties wherein they principally agree on developing a new asset or entity by infusing equity for a term. In a joint venture transaction, parties agree to co-operate with each other and term of the joint venture may be defined or open.…
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Introduction With the spread of globalization, technical and technological evolution, changes in communication means and transportations, economic freedom and free trade around the world have reinforced the idea that businesses and commercial dealings need protection. Hence, as there is an international cooperation among countries to follow an international criminal worldwide,…
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ADCCAC - The Abu Dhabi Commercial Conciliation & Arbitration Center Evolution has created several ways of defying the unsettling consequences of disputes. In the animal kingdom, where survival is dependent on mutual respect, harmony, and assistance, there is a need to maintain beneficial relationships. For example, chimps kiss and embrace…
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There is a severe need for consistency in the market dealing with publicly traded securities as rapid advancements in the legal diaspora can add unwitting complexity to the requirements of the debtors. If the contracts between borrowers and lenders do not outline distinct covenants which comply with the local laws…
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Construction Insight: The sight of a rainbow in the middle of a desert is a rather recherché glimpse. The United Arab Emirates, however, is not a conventional desert panorama come true. Take for example the construction industry in the region. There is an interesting mix of cultures…
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I'm sure someone has told you, "I have an idea"! And when someone has an idea that is (or is believed to be) great’ the question is - how can they protect it? But did you know that an idea cannot be protected under the copyright law? Or did you…
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UKBA vs Bribery and Corruption According to ex-UK Secretary of State for Justice Kenneth Clarke, “Bribery blights lives… The wider victims are government and society, undermined by a weakened rule of law and damaged social and economic development. At stake is the principle of free and fair competition, which…
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