The Abu Dhabi Global Market Arbitration Centre (ADGMAC) and Emirates Maritime Arbitration Centre (EMAC) have signed a Memorandum of Understanding (MoU) to advance arbitration and mediation services for the United Arab Emirates (UAE) maritime industry.
The signing ceremony took place on September 8, by Mr. Majid bin Bashir, Acting Chairman and Secretary General, EMAC and Mrs. Linda Fitz-Alan, Registrar and Chief Executive of ADGM Courts.
Majid Obaid bin Bashir, Acting Chairman and Secretary General, EMAC stated that the partnership will enable both participants improve the accessibility, efficiency and effectiveness of commercial and maritime arbitration and mediation. In the meantime, both partners will be able to exchange expertise and facilitate the rendering of the United Arab Emirates as a perfect seat of arbitration in Middle East.
In light of the MoU, Linda Fitz-Alan, Registrar and Chief Executive of ADGM Courts commented
ADGM Arbitration Centre is pleased to join efforts with the Emirates Maritime Arbitration Centre to better serve the business requirements and developments of the growing maritime and commercial sector in the UAE and wider Middle East region.
Recently, 46 states signed the new UN Convention on international settlement agreements resulting from mediation (the Singapore convention on mediation). Also, an article by Standard P&I Club further explains the terms and the differences between arbitration and mediation, also focusing in the Singapore convention.
