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FIDIC in the Middle East - The Must Knows for Industry Players The UAE industry has seldom been ignorant to internationally set standards- that in more than one ways. Originally established as an organization by three founding countries Belgium, France, and Switzerland- today FIDIC, which is an abbreviation…
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Who is Liable to Pay when Circumstances for Construction Change? Construction has been one of the most dynamic industrial sectors in the Middle East due to the increase in need of palatial residential and office spaces that arise from the surfeit of expatriates that flock into the region every year.…
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Electronic Registration of Cases- Advantages and Legal Problems “The Internet is becoming the town square for the global village of tomorrow.” -Bill Gates Introduction Dubai has evolved to become the marketing and commercial hub of the Middle Eastern region. A surfeit of investors, traders and tourists flock into the Emirate on a…
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Project Finance as the technique of financing any development idea is rapidly increasing in developing countries due to their drive to gain industrial development and improve infrastructural amenities. The infrastructural projects or projects relating to energy industry are usually funded by government through public funds since historical times due to…
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There are across the world, varied different institutions of property, radically different ways of separating the land space, and developing rights in consonance with other legal, economic and social institutions. These differences get in to limelight when one pays attention to the sometimes subtle differences in policies and regulations that…
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The prodigious and fortuitous impact (and, speed) of global financial crisis has left a lasting legacy on many. Questions have been raised in past as to what led to crisis, people who were instrumental in driving the downturn and people affected by same .Speed and force without direction can be…
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The construction contracts are generally prepared as per Fédération Internationale des Ingénieurs-Conseils (the FIDIC) red books 1987 and 1999, yellow book and silver book contract forms specifically in UAE to deliver projects. The legal provisions applying to such contracts are UAE Civil Code, Federal Law No. 5 of 1985 as…
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Joint venture is an agreement between two or more parties wherein they principally agree on developing a new asset or entity by infusing equity for a term. In a joint venture transaction, parties agree to co-operate with each other and term of joint venture may be defined or open. Parties…
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Construction Insight: The sight of a rainbow in the middle of a desert is a rather recherché glimpse. United Arab Emirates however, is not a conventional desert panorama come true. Take for example the construction industry in the region. There is an interesting mix of cultures and…
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While driving back from work yesterday I noticed a renowned hotel brand had popped up in my community out of nowhere. A few days back that same building was supposedly a mixed use development, but it now boasts the logo of a luxury hotel chain. As discussed in the first…
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Decree Number 21 of 2013 – One Year Later We’re all familiar with the story. Mr A buys property off-plan. Developer advises property will be completed by 201X. Mr A awaits handover with anticipation. 201X comes and goes, with no news on the property. Developer or sales agent contact Mr…
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На самом деле фраза «проверка с должной осмотрительностью» легко ассоциируется с юридической отраслью. Но, напомнив себе ее основное определение, мы понимаем, что каждый из нас выполняет эту проверку сотни раз в день. Мы можем проверять прогноз погоды или отчеты о пробках перед выходом из дома, читать отзывы о фильме для…
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Вопросы, которые, как правило, широко обсуждаются в настоящее время в бизнес и юридических кругах, относятся к рецессии. Эти вопросы так же затрагивают следующие темы 1) что привело к рецессии; 2) можно ли ее было предотвратить; 3) какой урок можно извлечь из этого прецедента? Например, рассмотрим случай Королевского Банка Шотландии. Рыночная…
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