The vast majority of contracts in Dubai contain an Arbitration clause as a common practice and one of the dispute resolution method, the number of panels is varied, it should be one or three or five members, based on the parties agreement.
The advantage of a sole arbitrator is the cost efficiency, it is less costly than other methods. However, one arbitrator decision is highly risky, the arbitrator decision is final without any chance to challenge the ruling, all keys and the final say are in one hand without any ability for any challenge or review.
While multiple arbitrators’ panel is more costly and time-consuming due to the deliberation process. It is more secure than the sole arbitrator approach, deliberations mean the ability to predict what is in the arbitrator’s mind, it highlights all key points that may help lawyers to modify their strategy within the hearings accordingly.
To sum up, Sole arbitrator is less time-consuming than other methods, however, it is a very risky decision.
What is the Best choice for corporates? Al Zarooni Advocates is one of the best dispute resolution & arbitration law firm in Dubai. We can help in this particular issue, Our team of specialist arbitration lawyers in Dubai are highly skilled and possess over 15 years’ experience in resolving disputes and attending arbitrations administered by the major international arbitration institutions.
Arbitration Lawyers in Dubai
Contact Al Zarooni Advocates & Legal Consultants to get in touch with the best arbitration lawyers in Dubai. As one of the best dispute resolution & arbitration law firm in Dubai, we can help you successfully resolve your commercial disputes and come to a satisfactory agreement.