From January 1 to March 31, 2015, the Gulf Cooperation Council (GCC) Commercial Arbitration Center “Dar Al-Qarar” registered three new disputes ranging from construction and contracting to real estate development, with a total value of $2.8 million involving parties from Qatar, Bahrain, and Libya, with Bahraini parties accounting for 50%.
Ahmed Najm, Secretary-General of the GCC Commercial Arbitration Center “Dar Al-Qarar,” explained in a press release that the center is reaping the benefits of the efforts it has initiated, and that a number of major companies and institutions in the GCC countries, as well as official and quasi-governmental bodies, are now including arbitration clauses based on the GCC Commercial Arbitration Center’s mechanism in their contracts. He noted that there is greater understanding among all parties of the strength and enforceability of the Center’s rulings, as evidenced by the continuous registration of disputes throughout the year involving parties of various nationalities and under terms that reflect the level of awareness achieved by the disputing parties.
Najm stated that the Center’s rulings are not subject to any national legal system—neither in terms of their procedures and subject matter nor in terms of the arbitration agreement—and are not restricted by or subject to the judicial oversight of any GCC member state.
