Emirates Maritime Arbitration Centre (EMAC) and the Abu Dhabi Global Market Arbitration Centre (ADGMAC) have signed a memorandum of understanding (MoU) to upgrade arbitration and mediation services across the UAE maritime industry.
The MoU was signed by acting chairman and secretary-general of EMAC Majid bin Bashir and registrar and chief executive of ADGM Courts Linda Fitz-Alan, according to a press release.
Under the terms of the agreement, both parties will collaborate to boost the standards of arbitration and mediation in the region.
Majid Obaid bin Bashir said: Through this partnership we believe that we will be able to enhance the accessibility, efficiency and effectiveness of commercial and maritime arbitration and mediation that will allow us to share knowledge and ideas to facilitate the rendering of the United Arab Emirates as a perfect seat of arbitration in Middle East.”
For her part, Linda Fitz-Alan said: “. As an International Financial Centre, ADGM is well recognised as an effective, efficient and safe seat for the conduct of international arbitration. Its state-of-the-art Arbitration Centre provides a neutral and inclusive venue, open to all arbitrations and mediations, regardless of sectors, industries and geographies. We look forward to working with EMAC to raise.”