The Qatar International Centre for Conciliation and Arbitration (QICCA) at Qatar Chamber recently held the seminar ‘The Significance of Arbitration Agreement’ in the presence of QICCA board member for International Relations Sheikh Dr Thani bin Ali al-Thani.
The seminar was delivered by Dr Tarek Fouad Riad, who has a master's and doctoral degree from Harvard Law School. He is a member of the New York Bar Association, the former chairman of the Executive Committee of the Dubai Arbitration Centre, and managing partner of Tarek Riad & Partners Law Firm and Legal Consultations.
Addressing the seminar, Sheikh Dr Thani emphasised QICCA’s commitment to promoting the culture of arbitration among members of society, especially in the legal circles here and abroad. He also highlighted the importance of arbitration in settling commercial disputes.
Dr Riad congratulated QICCA on its progress and achievements over the past 10 years and lauded its procedures and rules in resolving disputes.
During the seminar, Dr Riad focused on various aspects of arbitration, including the definition of arbitration, the arbitration agreement, different forms of the arbitration agreement, conditions for its validity, the law governing it, and model arbitration clauses from organisations like the International Chamber of Commerce, the Dubai International Commercial Arbitration Centre, and the Qatar International Centre for Conciliation and Arbitration.
Dr Riad emphasised that arbitration is essentially a battle between two parties, characterised by numerous important elements and tools. He underscored the significance of preparation for the arbitration process, including drafting the arbitration clause carefully and adhering to the contract’s terms.
He highlighted the significance of evaluating the legal position before initiating arbitration proceedings and considering the possibility of reconciliation, as well as making a good choice of arbitrator.
Dr Riad underscored the arbitration agreement’s pivotal role, saying it is a roadmap defining the arbitration process. He stressed that clarity in the agreement is crucial as it helps both parties understand the rules governing arbitration.
On the elements of the arbitration agreement, Dr Riad outlined key components, such as the type of arbitration, composition of the arbitral tribunal, arbitration venue, and language, as well as the applicable law governing the procedures and subject matter.
QICCA board member for International Relations Sheikh Dr Thani bin Ali al-Thani and Dr Tarek Fouad Riad during the seminar.
