The new law will help resolve both economic and commercial business needs
The Qatar International Court and Dispute Resolution Centre (QICDRC) has hailed the publication of Law No 2 of 2017 issuing the Arbitration Act in Civil and Commercial Matters, The Peninsula of Doha has reported.
Faisal Al Sahouti, the CEO of QICDRC said the new law is intended to meet the economic and commercial needs of Qatar and those doing business in the country.
The issuing of this new law has come at an important time, as arbitration is a sought-after method for resolving international commercial disputes in Qatar.
Based upon the UNCITRAL (United Nations Commission on International Trade Law) Model Law, the new law will, among other things, give the Civil and Commercial Courts at the QICDRC supervisory jurisdiction over arbitrations where the parties elect it. UNCITRAL is recognized as the core legal body of the United Nations system in the field of international trade law.
For international companies doing business in Qatar, this will likely prove an attractive offering.