Arbitration clause, Dubai, Enforcement of an arbitration clause, Middle East, UAE, Unilateral Clauses
Unilateral Option to Arbitrate: Valid in the UAE?
Dispute resolution provisions in banking and finance transaction documents in the UAE sometimes include a unilateral option provision which, where a dispute arises, purports to reserve to the contracting bank, investment fund or lender, the right to choose arbitration or litigation, or sometimes litigation in a different forum to the local courts. The rationale for…