Qatar introduces new arbitration law
A new arbitration law has been issued in Qatar, where this method of resolution is much sought after, within the construction sector specifically
A new arbitration law to help resolve both economic and commercial business needs has been issued.
The Qatar International Court and Dispute Resolution Centre (QICDRC) has hailed the publication of Law No 2 of 2017 issuing the Arbitration Act in Civil and Commercial Matters, The Peninsula reported.
Faisal Al Sahouti, the CEO of QICDRC said the new law is intended to meet the economic and commercial needs of Qatar and those doing business in the country.
The issuing of this new law has come at an important time, as arbitration is a sought after method for resolving international commercial disputes in Qatar.
Based upon the UNCITRAL Model Law, the new law will, amongst other things, give the Civil and Commercial Court at the QICDRC supervisory jurisdiction over arbitrations where the parties elect it.
For international companies doing business in Qatar, this will likely prove an attractive offering.