Humaid bin Rashid issues Decree establishing AAC

Under the Decree, the "Ajman Centre for Commercial Conciliation and Arbitration," at the Ajman Chamber is reorganised to possess the legal personality and capacity required to fulfill its objectives and exercise its assigned competencies and powers. The Centre's goals include offering various dispute resolution methods, promoting arbitration awareness, and enhancing local arbitration expertise.

The Decree outlines the arbitration rules and procedures governed by the chamber's Board of Directors, following the emirate's laws. Parties selecting the centre for dispute resolution signify their agreement to abide by the approved arbitration rules and procedures.

The Decree assigns the centre tasks such as offering services for civil and commercial dispute resolution through arbitration, setting rules for arbitration, determining arbitrators' fees, and developing management-related regulations, all subject to approval by the Council.

The center is tasked with selecting arbitrators and forming panels, preparing approved lists, setting registration standards, facilitating settlements, supporting arbitration bodies, and managing arbitration effectively. Additionally, it organises educational events in arbitration and other conflict resolution methods and represents the Chamber at various arbitration events globally.

The decree outlines the composition of the centre's board of trustees, including a chairman, vice-chairman, and up to seven members with expertise in Arbitration, Law, or related areas. Appointments, replacements, and renewals are made by the chairman of the board of directors of the Chamber following board approval, each serving a renewable four-year term.

The Board of Trustees is responsible for approving the Centre's general policy and its strategic, development, and operational plans, submitting these to the Council for approval, and overseeing their implementation.

The Board also approves all regulations, systems, and decisions related to the Centre's management, including the fees for its services, the annual budget, the final account project, and the lists of accredited arbitrators and experts, along with the criteria for their registration.

The Board is assigned to propose the establishment of new branches or offices for the Centre, approve periodic reports on its work and activities, and approve the annual report on its activities and achievements.

The decree establishes provisions emphasising neutrality, independence, and non-interference for the Board of Trustees, Secretary-General, and arbitrators at the centre. It ensures that previously agreed-upon arbitration agreements remain valid and that arbitration processes continue uninterrupted according to approved rules and procedures, unless otherwise agreed by the parties involved.