QICCA examines the significance of arbitration agreement in the arbitration process

22-02-2024

The Qatar International Centre for Conciliation and Arbitration (QICCA) at the Qatar Chamber recently organized a seminar titled “The Significance of Arbitration Agreement,” in the presence of QICCA’s board member for International Relations, HE Sheikh Dr Thani bin Ali Al Thani.

The seminar was delivered by Dr. Tarek Fouad Riad, MA and PhD from Harvard Law School, member of the New York Bar Association, former Chairman of the Executive Committee of the Dubai Arbitration Centre and Managing Partner of Tarek Riad & Partners Law Firm and Legal Consultations.

Addressing the seminar, HE Dr. Sheikh Thani emphasized the QICCA’s commitment to promoting the culture of arbitration among society and especially among legal circles. He highlighted the importance of arbitration in settling commercial disputes.

During the seminar, Dr. Tarek Riad focused on various aspects of arbitration, including the definition of arbitration, the arbitration agreement, different forms of the arbitration agreement, conditions for its validity, the law governing it, and model arbitration clauses from organizations like the International Chamber of Commerce, the Dubai International Commercial Arbitration Centre, and the Qatar International Centre for Conciliation and Arbitration.

He also congratulated QICCA on its progress and achievements over the past ten years, praising its procedures and rules in resolving disputes.

Dr Riad emphasized that arbitration is essentially a battle between two parties, characterized by numerous important elements and tools, underscoring the significance of preparation for the arbitration process, including drafting the arbitration clause carefully and adhering to the contract’s terms.

He highlighted the significance of evaluating the legal position before initiating arbitration proceedings and considering the possibility of reconciliation, as well as making a good choice of arbitrator.

Discussing the arbitration agreement, Dr Riad underscored its pivotal role as the roadmap defining the arbitration process. He stressed that clarity in the agreement is crucial as it helps both parties understand the rules governing arbitration.

Regarding the elements of the arbitration agreement, he outlined key components such as the type of arbitration, composition of the arbitral tribunal, arbitration venue and language, as well as the applicable law governing the procedures and subject matter.

Back to top button