The GCC Commercial Arbitration Centre has successfully concluded its four-day program, titled “Drafting Contracts and the Art of Drafting Arbitration Agreements.” This program was organized in collaboration with Abu Dhabi Commercial Conciliation and Arbitration Centre at the Emirates Institute of Finance in the United Arab Emirates.
The event, moderated by Mr. Hazem Mohammed Abdulsalam Ali, Senior Advisor for Legislation at the Central Bank of the UAE, attracted a diverse audience. Participants included employees from contracts and procurement departments, legal teams in ministries, government and private institutions, leaders in legal and administrative roles in companies and chambers of commerce and industry, lawyers, legal consultants, students of law faculties, arbitrators, and experts in the field of commercial disputes. Additionally, engineers and accountants specializing in the drafting and implementation of contracts actively participated in the program.
The objective of the program was to equip participants with the essential skills and knowledge required for drafting arbitration contracts in a manner that ensures legal certainty and streamlines the execution of final decisions rendered by arbitrators. Additionally, the program sought to foster a comprehensive understanding of the laws and fundamental principles associated with drafting investment contracts, interpreting administrative and commercial agreements, and effectively managing and formulating arbitration agreements.
In a statement on the occasion, Dr. Kamal bin Abdullah Al Hamad, the Secretary-General of the GCC Commercial Arbitration Centre, emphasized the Centre’s ongoing commitment to fostering a culture of arbitration, agreements, and contracts among professionals. He highlighted the Centre’s dedication to offering an exceptional educational environment, top-notch training, and scholarly content aligned with the latest industry practices and the highest international standards. This commitment aims to ensure the implementation of the most current and effective dispute resolution practices, in line with the continuous growth of trade and investments in the Gulf region.
Dr. Al Hamad commented: “The meticulous drafting of legal documents in contracts is crucial for clearly conveying the parties’ intentions. The closer the drafting aligns with principles aimed at this objective, the lower the likelihood of disputes between contractual parties. Proper legal drafting is pivotal in achieving balance and clarity in contracts, thereby reducing opportunities for conflicting interpretations and differing understandings. Furthermore, it serves to prevent gaps and issues that could potentially give rise to legal disputes in the future”.
