Reducing Contractual Risk
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A presentation by Mark Beer, OBE, Registrar General of DIFC Courts, on the topic "Reducing Contractual Risk" givenat a marcus evans workshop in Dubai in August 2017. Mark discusses strategies on how to reduce contractual risk and explains why DIFC Courts has proven to be effective at protecting global business as one of the world's most connected courts.
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Reducing Contractual Risk
- 1. Reducing Contractual Risk Mark Beer, OBE Registrar General of the DIFC Courts 9th August 2017
- 3. Things, people and money 20041985 2014 2015 2011 2009 2008 DIFC DIFC Courts Dubai World Tribunal Elective jurisdiction Dispute Resolution Authority & Academy of Law Wills and Probate Registry & DIFC-LCIA The Journey
- 5. Supporting global business needs English language common law courts International Bench Promoting settlement World’s most connected commercial court Commercial and civil
- 6. Specialised remedies Injunctions1 Summary Judgment2 Amalgamation and Joinder3
- 7. • Contractual Risk? • Contractual Value = Risk Weighted Returns • Chapter 1…….. • How? Reducing Contractual Risk
- 8. Enforcement
- 9. What others are saying: The Oath Middle East Law Journal wrote: “The DIFC Courts are considered to be in the top three commercial courts in the world and are planning to expand their operations.” Reuters, international news agency wrote: "DIFC Courts are one reason, if not the main reason, for [financial institutions and blue-chip corporations] being headquartered in the DIFC." Former UAE Minister of Justice HE Hadef Al Dhaheri commented: “The importance of Dubai offering two judicial systems, one Arabic language civil and one English language common law, should not be underestimated. The choice that is now offered to businesses operating here must be celebrated.”
Editor's Notes
- Before talking about the Courts, can we talk about Dubai and specifically the Dubai International Financial Centre. Maybe insert movie clip about development of Dubai and time lapse about building of the centre.
- Highest ranked fear – not death or loneliness, but public speaking. Fear and business mix like oil and water – they don’t Would you drive a car if you didn’t trust the tyres? Maybe? How fast? Who with? Fear, uncertainty or unfamiliarity of a market slows a market. Nothing new – Dubai knew this in 1985
- Highest ranked fear – not death or loneliness, but public speaking. Fear and business mix like oil and water – they don’t Would you drive a car if you didn’t trust the tyres? Maybe? How fast? Who with? Fear, uncertainty or unfamiliarity of a market slows a market. Nothing new – Dubai knew this in 1985
- In addition to active case management we have other tools at our disposal such as injunctive relief (incl specific performance), summary judgment (to ensure that spurious claims or defences are dealt with immediately) and the ability to amalgamate or join cases to reduce time and costs for the parties.
- Enforcement critical and we have protection of treaties covering the Arab world and the GCC, as well as reciprocal common law enforcement into other common law centres such as London.