INSERT INTO `tm_wsal_metadata` (`id`, `occurrence_id`, `name`, `value`) VALUES
(304614, 29105, 'MetaValueNew', '<p dir=\"LTR\" align=\"LEFT\">Most business transactions involve degrees of risk, which can never be eliminated entirely. An additional layer of risk inevitably accompanies any cross-border deal, and this article addresses the best way to manage these particular risks.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Cross-Border Deals and Legal Risks</h3>\r\n<img class=\"wp-image-8240 alignleft\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_09_Image_0001.jpg\" alt=\"\" width=\"624\" height=\"482\" />\r\n\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">a. Choice of Law and Forum:</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">In cross-border deals, choice of law and forum clauses deserve enhanced scrutiny and negotiation. If any dispute flares up, you will find that these choices will have already been locked in. Suddenly, they will loom large, and poor choices may cost you considerable money and time. Choice of law is quite distinct from the choice of forum. The choice of law is the set of laws which governs the substance of the contract, whilst forum is concerned with the dispute resolution body and the processes for final resolution.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(i) Choice of Law:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">The main factor in deciding which governing law should govern a contract is ease of enforcement of those contractual terms allocating risks between the parties. Some jurisdictions have less developed substantive legal rules and their laws do not fit comfortably with sophisticated transaction structures commonly seen in major financial centres. In such instances, local law may either override or fail to support the agreed contract terms, rendering the outcome of any dispute unpredictable.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Ideally, parties to a contract should choose a jurisdiction with a well-developed body of legal rules. Many international players prefer common law systems, mainly because they are accustomed to working within these legal systems. Moreover, common law systems carry with them a wealth of recognised precedents which can render dispute outcomes more predictable.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(ii) Choice of Forum:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">Selecting a forum involves two different choices. Firstly, whether the parties wish to submit to arbitration or a court process. Secondly, a choice as to the legal environment in which the dispute process will be conducted, a choice which needs to take into account supervision of the arbitration and/or access to an appellate court system.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Resolution by official courts can save the parties substantial costs associated with arbitration. Any arbitration has to be funded privately, including the fees of the arbitrators. Also, it is usually quicker and easier for courts to secure interim remedies and to compel disclosure of documents or information; in arbitrations, it is often necessary to go to court to secure these remedies anyway. Courts also allow for appeal processes from their judgements, a safeguard against capricious findings or error. Arbitration, on the other hand, gives the parties an opportunity to ensure that a dispute is determined by a technical expert, rather than a legally trained judge. The expert can act as the arbitrator and resolve the dispute without the successful party being exposed to drawn-out appeals. Nevertheless, the possibility of the arbitrator requiring correction or supervision will also be relevant to any choice of forum. In some jurisdictions, arbitrations move faster than court processes, in others they move more slowly.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">When choosing the legal environment for the forum, a neutral jurisdiction has advantages, and usually gives confidence to foreign-based counterparties, particularly in cases where one of the transaction parties is a governmental entity or has strong ties to the government. Meanwhile, selecting the jurisdiction which hosts the deal assets also has its advantages, as the dispute resolution forum will have power to make orders affecting those assets and may be convenient and accessible for involved experts or witnesses. Decisions of a court where the deal assets are located are usually more readily enforceable against those assets.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">A key point to consider in advance is whether a court of the jurisdiction hosting the deal assets will recognize and respect the parties’ contractual choice of forum. For example, courts in GCC countries sometimes consider it appropriate to assume jurisdiction over a case filed before them which involves local assets (particularly land); and to apply local law regardless.</p>\r\n&nbsp;\r\n<h2 dir=\"LTR\" align=\"LEFT\">\"Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.\"</h2>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">b. Enforcement of Securities</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Lenders must carefully study and assess the enforceability of their security in the event of default. In some jurisdictions which impose fees or taxes, taking security over the deal assets, especially real property, may be costly. In these cases, a more practical security may take the form of a preferential claim to cash balances and revenues of the target/assets.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">c. Force Majeure Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Force majeure is a legal term of art describing the occurrence of an unexpected event outside the control of the affected party, as a result of which it becomes difficult or impossible for that party to perform obligations under a contract. Examples of force majeure include wars, riots, fires, floods and hurricanes. Such events also affect domestic deals, but force majeure events are less predictable for foreign counterparties in any cross-border deal.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Common law jurisdictions usually refuse to grant relief for force majeure events unless this is expressly provided for in the contract. In contrast, civil law jurisdictions usually grant the court the authority to alter the contract to restore its balance where there is a force majeure event. In all cases, courts in both systems will be influenced by, and consider, the express terms of the contract before making a decision.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Some force majeure risks are commercially insurable events. Others are uninsurable events. Commercially insurable events include fires, floods or storms and in these scenarios their risk may be mitigated by obtaining the necessary insurance policies. In contrast, riots and political disruptions are usually uninsurable. Hence, the parties should take into account insurance cover and allocate contractual risks accordingly, particularly as the inclusion of an indemnity in the deal contract can sometimes nullify insurance arrangements.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">d. Currency Fluctuations</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Currency fluctuations are common risks encountered with international transactions. Even with the most careful monitoring, fluctuations can be unpredictable and can greatly affect the economics of a project, the business and its profits. To mitigate this risk, it is ideal to contract with all parties in the transaction chain in the same currency, if possible. Another way to mitigate any exchange risk, is to hedge the currency risk. This method may incur hedging costs and also sacrifice gains from favourable fluctuations – but, if the tables are turned, it also mitigates any significant losses.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">e. Sovereign Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Sovereign risk is an inherit risk that is more heightened in some countries. One way to mitigate sovereign risk is by structuring investments in such a way that investment protection treaties with the host country can be triggered. An example of such is the use of acquisition vehicles to which investment protection treaties apply.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">f. Market Demand Risks</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">A product or service which proves successful in one country may not be successful in another. Many businesses have had to adapt their products or services significantly in order to conform to the cultural, religious traditions or realities of a new market. For example, online sales platforms work only if a large percentage of the target market holds credit cards. A thorough market study must be conducted before introducing a new product or service fresh to a jurisdiction to validate the introduction, assumptions or projections made by the party introducing it.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Conclusion</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The deal \"risk list\" above is by no means exhaustive. But it highlights the fact that risk allocations between the parties in any cross-border deal should be clearly documented and the main risks addressed. Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>Al Tamimi &amp; Company’s Corporate Commercial team regularly advises on commercial matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/alex-saleh/\">Alex Saleh</a> (<a href=\"mailto:alex.saleh@tamimi.com\">alex.saleh@tamimi.com</a>) or <a href=\"https://www.tamimi.com/lawyer/rana-el-nahal/\">Rana Elnahal</a> (<a href=\"mailto:r.elnahal@tamimi.com\">r.elnahal@tamimi.com</a>).</em></p>'),
(304615, 29105, 'MetaValueOld', '<p dir=\"LTR\" align=\"LEFT\"><img class=\"wp-image-8240 alignleft\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_09_Image_0001.jpg\" alt=\"\" width=\"624\" height=\"482\" />Most business transactions involve degrees of risk, which can never be eliminated entirely. An additional layer of risk inevitably accompanies any cross-border deal, and this article addresses the best way to manage these particular risks.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Cross-Border Deals and Legal Risks</h3>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">a. Choice of Law and Forum:</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">In cross-border deals, choice of law and forum clauses deserve enhanced scrutiny and negotiation. If any dispute flares up, you will find that these choices will have already been locked in. Suddenly, they will loom large, and poor choices may cost you considerable money and time. Choice of law is quite distinct from the choice of forum. The choice of law is the set of laws which governs the substance of the contract, whilst forum is concerned with the dispute resolution body and the processes for final resolution.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(i) Choice of Law:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">The main factor in deciding which governing law should govern a contract is ease of enforcement of those contractual terms allocating risks between the parties. Some jurisdictions have less developed substantive legal rules and their laws do not fit comfortably with sophisticated transaction structures commonly seen in major financial centres. In such instances, local law may either override or fail to support the agreed contract terms, rendering the outcome of any dispute unpredictable.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Ideally, parties to a contract should choose a jurisdiction with a well-developed body of legal rules. Many international players prefer common law systems, mainly because they are accustomed to working within these legal systems. Moreover, common law systems carry with them a wealth of recognised precedents which can render dispute outcomes more predictable.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(ii) Choice of Forum:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">Selecting a forum involves two different choices. Firstly, whether the parties wish to submit to arbitration or a court process. Secondly, a choice as to the legal environment in which the dispute process will be conducted, a choice which needs to take into account supervision of the arbitration and/or access to an appellate court system.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Resolution by official courts can save the parties substantial costs associated with arbitration. Any arbitration has to be funded privately, including the fees of the arbitrators. Also, it is usually quicker and easier for courts to secure interim remedies and to compel disclosure of documents or information; in arbitrations, it is often necessary to go to court to secure these remedies anyway. Courts also allow for appeal processes from their judgements, a safeguard against capricious findings or error. Arbitration, on the other hand, gives the parties an opportunity to ensure that a dispute is determined by a technical expert, rather than a legally trained judge. The expert can act as the arbitrator and resolve the dispute without the successful party being exposed to drawn-out appeals. Nevertheless, the possibility of the arbitrator requiring correction or supervision will also be relevant to any choice of forum. In some jurisdictions, arbitrations move faster than court processes, in others they move more slowly.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">When choosing the legal environment for the forum, a neutral jurisdiction has advantages, and usually gives confidence to foreign-based counterparties, particularly in cases where one of the transaction parties is a governmental entity or has strong ties to the government. Meanwhile, selecting the jurisdiction which hosts the deal assets also has its advantages, as the dispute resolution forum will have power to make orders affecting those assets and may be convenient and accessible for involved experts or witnesses. Decisions of a court where the deal assets are located are usually more readily enforceable against those assets.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">A key point to consider in advance is whether a court of the jurisdiction hosting the deal assets will recognize and respect the parties’ contractual choice of forum. For example, courts in GCC countries sometimes consider it appropriate to assume jurisdiction over a case filed before them which involves local assets (particularly land); and to apply local law regardless.</p>\r\n&nbsp;\r\n<h2 dir=\"LTR\" align=\"LEFT\">\"Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.\"</h2>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">b. Enforcement of Securities</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Lenders must carefully study and assess the enforceability of their security in the event of default. In some jurisdictions which impose fees or taxes, taking security over the deal assets, especially real property, may be costly. In these cases, a more practical security may take the form of a preferential claim to cash balances and revenues of the target/assets.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">c. Force Majeure Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Force majeure is a legal term of art describing the occurrence of an unexpected event outside the control of the affected party, as a result of which it becomes difficult or impossible for that party to perform obligations under a contract. Examples of force majeure include wars, riots, fires, floods and hurricanes. Such events also affect domestic deals, but force majeure events are less predictable for foreign counterparties in any cross-border deal.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Common law jurisdictions usually refuse to grant relief for force majeure events unless this is expressly provided for in the contract. In contrast, civil law jurisdictions usually grant the court the authority to alter the contract to restore its balance where there is a force majeure event. In all cases, courts in both systems will be influenced by, and consider, the express terms of the contract before making a decision.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Some force majeure risks are commercially insurable events. Others are uninsurable events. Commercially insurable events include fires, floods or storms and in these scenarios their risk may be mitigated by obtaining the necessary insurance policies. In contrast, riots and political disruptions are usually uninsurable. Hence, the parties should take into account insurance cover and allocate contractual risks accordingly, particularly as the inclusion of an indemnity in the deal contract can sometimes nullify insurance arrangements.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">d. Currency Fluctuations</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Currency fluctuations are common risks encountered with international transactions. Even with the most careful monitoring, fluctuations can be unpredictable and can greatly affect the economics of a project, the business and its profits. To mitigate this risk, it is ideal to contract with all parties in the transaction chain in the same currency, if possible. Another way to mitigate any exchange risk, is to hedge the currency risk. This method may incur hedging costs and also sacrifice gains from favourable fluctuations – but, if the tables are turned, it also mitigates any significant losses.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">e. Sovereign Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Sovereign risk is an inherit risk that is more heightened in some countries. One way to mitigate sovereign risk is by structuring investments in such a way that investment protection treaties with the host country can be triggered. An example of such is the use of acquisition vehicles to which investment protection treaties apply.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">f. Market Demand Risks</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">A product or service which proves successful in one country may not be successful in another. Many businesses have had to adapt their products or services significantly in order to conform to the cultural, religious traditions or realities of a new market. For example, online sales platforms work only if a large percentage of the target market holds credit cards. A thorough market study must be conducted before introducing a new product or service fresh to a jurisdiction to validate the introduction, assumptions or projections made by the party introducing it.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Conclusion</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The deal \"risk list\" above is by no means exhaustive. But it highlights the fact that risk allocations between the parties in any cross-border deal should be clearly documented and the main risks addressed. Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>Al Tamimi &amp; Company’s Corporate Commercial team regularly advises on commercial matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/alex-saleh/\">Alex Saleh</a> (<a href=\"mailto:alex.saleh@tamimi.com\">alex.saleh@tamimi.com</a>) or <a href=\"https://www.tamimi.com/lawyer/rana-el-nahal/\">Rana Elnahal</a> (<a href=\"mailto:r.elnahal@tamimi.com\">r.elnahal@tamimi.com</a>).</em></p>'),
(304616, 29105, 'MetaLink', 'content'),
(304617, 29105, 'EditorLinkPost', 'https://www.tamimi.com/wp-admin/post.php?post=8187&amp;action=edit'),
(304618, 29105, 'ReportText', '<p dir=\"LTR\" align=\"LEFT\"><img class=\"wp-image-8240 alignleft\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_09_Image_0001.jpg\" alt=\"\" width=\"624\" height=\"482\" />Most business transactions involve degrees of risk, which can never be eliminated entirely. An additional layer of risk inevitably accompanies any cross-border deal, and this article addresses the best way to manage these particular risks.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Cross-Border Deals and Legal Risks</h3>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">a. Choice of Law and Forum:</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">In cross-border deals, choice of law and forum clauses deserve enhanced scrutiny and negotiation. If any dispute flares up, you will find that these choices will have already been locked in. Suddenly, they will loom large, and poor choices may cost you considerable money and time. Choice of law is quite distinct from the choice of forum. The choice of law is the set of laws which governs the substance of the contract, whilst forum is concerned with the dispute resolution body and the processes for final resolution.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(i) Choice of Law:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">The main factor in deciding which governing law should govern a contract is ease of enforcement of those contractual terms allocating risks between the parties. Some jurisdictions have less developed substantive legal rules and their laws do not fit comfortably with sophisticated transaction structures commonly seen in major financial centres. In such instances, local law may either override or fail to support the agreed contract terms, rendering the outcome of any dispute unpredictable.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Ideally, parties to a contract should choose a jurisdiction with a well-developed body of legal rules. Many international players prefer common law systems, mainly because they are accustomed to working within these legal systems. Moreover, common law systems carry with them a wealth of recognised precedents which can render dispute outcomes more predictable.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(ii) Choice of Forum:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">Selecting a forum involves two different choices. Firstly, whether the parties wish to submit to arbitration or a court process. Secondly, a choice as to the legal environment in which the dispute process will be conducted, a choice which needs to take into account supervision of the arbitration and/or access to an appellate court system.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Resolution by official courts can save the parties substantial costs associated with arbitration. Any arbitration has to be funded privately, including the fees of the arbitrators. Also, it is usually quicker and easier for courts to secure interim remedies and to compel disclosure of documents or information; in arbitrations, it is often necessary to go to court to secure these remedies anyway. Courts also allow for appeal processes from their judgements, a safeguard against capricious findings or error. Arbitration, on the other hand, gives the parties an opportunity to ensure that a dispute is determined by a technical expert, rather than a legally trained judge. The expert can act as the arbitrator and resolve the dispute without the successful party being exposed to drawn-out appeals. Nevertheless, the possibility of the arbitrator requiring correction or supervision will also be relevant to any choice of forum. In some jurisdictions, arbitrations move faster than court processes, in others they move more slowly.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">When choosing the legal environment for the forum, a neutral jurisdiction has advantages, and usually gives confidence to foreign-based counterparties, particularly in cases where one of the transaction parties is a governmental entity or has strong ties to the government. Meanwhile, selecting the jurisdiction which hosts the deal assets also has its advantages, as the dispute resolution forum will have power to make orders affecting those assets and may be convenient and accessible for involved experts or witnesses. Decisions of a court where the deal assets are located are usually more readily enforceable against those assets.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">A key point to consider in advance is whether a court of the jurisdiction hosting the deal assets will recognize and respect the parties’ contractual choice of forum. For example, courts in GCC countries sometimes consider it appropriate to assume jurisdiction over a case filed before them which involves local assets (particularly land); and to apply local law regardless.</p>\r\n&nbsp;\r\n<h2 dir=\"LTR\" align=\"LEFT\">\"Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.\"</h2>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">b. Enforcement of Securities</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Lenders must carefully study and assess the enforceability of their security in the event of default. In some jurisdictions which impose fees or taxes, taking security over the deal assets, especially real property, may be costly. In these cases, a more practical security may take the form of a preferential claim to cash balances and revenues of the target/assets.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">c. Force Majeure Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Force majeure is a legal term of art describing the occurrence of an unexpected event outside the control of the affected party, as a result of which it becomes difficult or impossible for that party to perform obligations under a contract. Examples of force majeure include wars, riots, fires, floods and hurricanes. Such events also affect domestic deals, but force majeure events are less predictable for foreign counterparties in any cross-border deal.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Common law jurisdictions usually refuse to grant relief for force majeure events unless this is expressly provided for in the contract. In contrast, civil law jurisdictions usually grant the court the authority to alter the contract to restore its balance where there is a force majeure event. In all cases, courts in both systems will be influenced by, and consider, the express terms of the contract before making a decision.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Some force majeure risks are commercially insurable events. Others are uninsurable events. Commercially insurable events include fires, floods or storms and in these scenarios their risk may be mitigated by obtaining the necessary insurance policies. In contrast, riots and political disruptions are usually uninsurable. Hence, the parties should take into account insurance cover and allocate contractual risks accordingly, particularly as the inclusion of an indemnity in the deal contract can sometimes nullify insurance arrangements.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">d. Currency Fluctuations</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Currency fluctuations are common risks encountered with international transactions. Even with the most careful monitoring, fluctuations can be unpredictable and can greatly affect the economics of a project, the business and its profits. To mitigate this risk, it is ideal to contract with all parties in the transaction chain in the same currency, if possible. Another way to mitigate any exchange risk, is to hedge the currency risk. This method may incur hedging costs and also sacrifice gains from favourable fluctuations – but, if the tables are turned, it also mitigates any significant losses.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">e. Sovereign Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Sovereign risk is an inherit risk that is more heightened in some countries. One way to mitigate sovereign risk is by structuring investments in such a way that investment protection treaties with the host country can be triggered. An example of such is the use of acquisition vehicles to which investment protection treaties apply.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">f. Market Demand Risks</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">A product or service which proves successful in one country may not be successful in another. Many businesses have had to adapt their products or services significantly in order to conform to the cultural, religious traditions or realities of a new market. For example, online sales platforms work only if a large percentage of the target market holds credit cards. A thorough market study must be conducted before introducing a new product or service fresh to a jurisdiction to validate the introduction, assumptions or projections made by the party introducing it.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Conclusion</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The deal \"risk list\" above is by no means exhaustive. But it highlights the fact that risk allocations between the parties in any cross-border deal should be clearly documented and the main risks addressed. Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>Al Tamimi &amp; Company’s Corporate Commercial team regularly advises on commercial matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/alex-saleh/\">Alex Saleh</a> (<a href=\"mailto:alex.saleh@tamimi.com\">alex.saleh@tamimi.com</a>) or <a href=\"https://www.tamimi.com/lawyer/rana-el-nahal/\">Rana Elnahal</a> (<a href=\"mailto:r.elnahal@tamimi.com\">r.elnahal@tamimi.com</a>).</em></p>|<p dir=\"LTR\" align=\"LEFT\">Most business transactions involve degrees of risk, which can never be eliminated entirely. An additional layer of risk inevitably accompanies any cross-border deal, and this article addresses the best way to manage these particular risks.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Cross-Border Deals and Legal Risks</h3>\r\n<img class=\"wp-image-8240 alignleft\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_09_Image_0001.jpg\" alt=\"\" width=\"624\" height=\"482\" />\r\n\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">a. Choice of Law and Forum:</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">In cross-border deals, choice of law and forum clauses deserve enhanced scrutiny and negotiation. If any dispute flares up, you will find that these choices will have already been locked in. Suddenly, they will loom large, and poor choices may cost you considerable money and time. Choice of law is quite distinct from the choice of forum. The choice of law is the set of laws which governs the substance of the contract, whilst forum is concerned with the dispute resolution body and the processes for final resolution.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(i) Choice of Law:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">The main factor in deciding which governing law should govern a contract is ease of enforcement of those contractual terms allocating risks between the parties. Some jurisdictions have less developed substantive legal rules and their laws do not fit comfortably with sophisticated transaction structures commonly seen in major financial centres. In such instances, local law may either override or fail to support the agreed contract terms, rendering the outcome of any dispute unpredictable.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Ideally, parties to a contract should choose a jurisdiction with a well-developed body of legal rules. Many international players prefer common law systems, mainly because they are accustomed to working within these legal systems. Moreover, common law systems carry with them a wealth of recognised precedents which can render dispute outcomes more predictable.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(ii) Choice of Forum:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">Selecting a forum involves two different choices. Firstly, whether the parties wish to submit to arbitration or a court process. Secondly, a choice as to the legal environment in which the dispute process will be conducted, a choice which needs to take into account supervision of the arbitration and/or access to an appellate court system.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Resolution by official courts can save the parties substantial costs associated with arbitration. Any arbitration has to be funded privately, including the fees of the arbitrators. Also, it is usually quicker and easier for courts to secure interim remedies and to compel disclosure of documents or information; in arbitrations, it is often necessary to go to court to secure these remedies anyway. Courts also allow for appeal processes from their judgements, a safeguard against capricious findings or error. Arbitration, on the other hand, gives the parties an opportunity to ensure that a dispute is determined by a technical expert, rather than a legally trained judge. The expert can act as the arbitrator and resolve the dispute without the successful party being exposed to drawn-out appeals. Nevertheless, the possibility of the arbitrator requiring correction or supervision will also be relevant to any choice of forum. In some jurisdictions, arbitrations move faster than court processes, in others they move more slowly.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">When choosing the legal environment for the forum, a neutral jurisdiction has advantages, and usually gives confidence to foreign-based counterparties, particularly in cases where one of the transaction parties is a governmental entity or has strong ties to the government. Meanwhile, selecting the jurisdiction which hosts the deal assets also has its advantages, as the dispute resolution forum will have power to make orders affecting those assets and may be convenient and accessible for involved experts or witnesses. Decisions of a court where the deal assets are located are usually more readily enforceable against those assets.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">A key point to consider in advance is whether a court of the jurisdiction hosting the deal assets will recognize and respect the parties’ contractual choice of forum. For example, courts in GCC countries sometimes consider it appropriate to assume jurisdiction over a case filed before them which involves local assets (particularly land); and to apply local law regardless.</p>\r\n&nbsp;\r\n<h2 dir=\"LTR\" align=\"LEFT\">\"Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.\"</h2>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">b. Enforcement of Securities</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Lenders must carefully study and assess the enforceability of their security in the event of default. In some jurisdictions which impose fees or taxes, taking security over the deal assets, especially real property, may be costly. In these cases, a more practical security may take the form of a preferential claim to cash balances and revenues of the target/assets.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">c. Force Majeure Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Force majeure is a legal term of art describing the occurrence of an unexpected event outside the control of the affected party, as a result of which it becomes difficult or impossible for that party to perform obligations under a contract. Examples of force majeure include wars, riots, fires, floods and hurricanes. Such events also affect domestic deals, but force majeure events are less predictable for foreign counterparties in any cross-border deal.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Common law jurisdictions usually refuse to grant relief for force majeure events unless this is expressly provided for in the contract. In contrast, civil law jurisdictions usually grant the court the authority to alter the contract to restore its balance where there is a force majeure event. In all cases, courts in both systems will be influenced by, and consider, the express terms of the contract before making a decision.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Some force majeure risks are commercially insurable events. Others are uninsurable events. Commercially insurable events include fires, floods or storms and in these scenarios their risk may be mitigated by obtaining the necessary insurance policies. In contrast, riots and political disruptions are usually uninsurable. Hence, the parties should take into account insurance cover and allocate contractual risks accordingly, particularly as the inclusion of an indemnity in the deal contract can sometimes nullify insurance arrangements.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">d. Currency Fluctuations</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Currency fluctuations are common risks encountered with international transactions. Even with the most careful monitoring, fluctuations can be unpredictable and can greatly affect the economics of a project, the business and its profits. To mitigate this risk, it is ideal to contract with all parties in the transaction chain in the same currency, if possible. Another way to mitigate any exchange risk, is to hedge the currency risk. This method may incur hedging costs and also sacrifice gains from favourable fluctuations – but, if the tables are turned, it also mitigates any significant losses.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">e. Sovereign Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Sovereign risk is an inherit risk that is more heightened in some countries. One way to mitigate sovereign risk is by structuring investments in such a way that investment protection treaties with the host country can be triggered. An example of such is the use of acquisition vehicles to which investment protection treaties apply.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">f. Market Demand Risks</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">A product or service which proves successful in one country may not be successful in another. Many businesses have had to adapt their products or services significantly in order to conform to the cultural, religious traditions or realities of a new market. For example, online sales platforms work only if a large percentage of the target market holds credit cards. A thorough market study must be conducted before introducing a new product or service fresh to a jurisdiction to validate the introduction, assumptions or projections made by the party introducing it.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Conclusion</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The deal \"risk list\" above is by no means exhaustive. But it highlights the fact that risk allocations between the parties in any cross-border deal should be clearly documented and the main risks addressed. Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>Al Tamimi &amp; Company’s Corporate Commercial team regularly advises on commercial matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/alex-saleh/\">Alex Saleh</a> (<a href=\"mailto:alex.saleh@tamimi.com\">alex.saleh@tamimi.com</a>) or <a href=\"https://www.tamimi.com/lawyer/rana-el-nahal/\">Rana Elnahal</a> (<a href=\"mailto:r.elnahal@tamimi.com\">r.elnahal@tamimi.com</a>).</em></p>'),
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(304668, 29109, 'MetaValueNew', '<p dir=\"LTR\" align=\"LEFT\">Most business transactions involve degrees of risk, which can never be eliminated entirely. An additional layer of risk inevitably accompanies any cross-border deal, and this article addresses the best way to manage these particular risks.</p>\r\n&nbsp;\r\n\r\n<img class=\"wp-image-8240 alignleft\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_09_Image_0001.jpg\" alt=\"\" width=\"624\" height=\"482\" />\r\n<h3 dir=\"LTR\" align=\"LEFT\">Cross-Border Deals and Legal Risks</h3>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">a. Choice of Law and Forum:</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">In cross-border deals, choice of law and forum clauses deserve enhanced scrutiny and negotiation. If any dispute flares up, you will find that these choices will have already been locked in. Suddenly, they will loom large, and poor choices may cost you considerable money and time. Choice of law is quite distinct from the choice of forum. The choice of law is the set of laws which governs the substance of the contract, whilst forum is concerned with the dispute resolution body and the processes for final resolution.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(i) Choice of Law:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">The main factor in deciding which governing law should govern a contract is ease of enforcement of those contractual terms allocating risks between the parties. Some jurisdictions have less developed substantive legal rules and their laws do not fit comfortably with sophisticated transaction structures commonly seen in major financial centres. In such instances, local law may either override or fail to support the agreed contract terms, rendering the outcome of any dispute unpredictable.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Ideally, parties to a contract should choose a jurisdiction with a well-developed body of legal rules. Many international players prefer common law systems, mainly because they are accustomed to working within these legal systems. Moreover, common law systems carry with them a wealth of recognised precedents which can render dispute outcomes more predictable.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(ii) Choice of Forum:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">Selecting a forum involves two different choices. Firstly, whether the parties wish to submit to arbitration or a court process. Secondly, a choice as to the legal environment in which the dispute process will be conducted, a choice which needs to take into account supervision of the arbitration and/or access to an appellate court system.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Resolution by official courts can save the parties substantial costs associated with arbitration. Any arbitration has to be funded privately, including the fees of the arbitrators. Also, it is usually quicker and easier for courts to secure interim remedies and to compel disclosure of documents or information; in arbitrations, it is often necessary to go to court to secure these remedies anyway. Courts also allow for appeal processes from their judgements, a safeguard against capricious findings or error. Arbitration, on the other hand, gives the parties an opportunity to ensure that a dispute is determined by a technical expert, rather than a legally trained judge. The expert can act as the arbitrator and resolve the dispute without the successful party being exposed to drawn-out appeals. Nevertheless, the possibility of the arbitrator requiring correction or supervision will also be relevant to any choice of forum. In some jurisdictions, arbitrations move faster than court processes, in others they move more slowly.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">When choosing the legal environment for the forum, a neutral jurisdiction has advantages, and usually gives confidence to foreign-based counterparties, particularly in cases where one of the transaction parties is a governmental entity or has strong ties to the government. Meanwhile, selecting the jurisdiction which hosts the deal assets also has its advantages, as the dispute resolution forum will have power to make orders affecting those assets and may be convenient and accessible for involved experts or witnesses. Decisions of a court where the deal assets are located are usually more readily enforceable against those assets.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">A key point to consider in advance is whether a court of the jurisdiction hosting the deal assets will recognize and respect the parties’ contractual choice of forum. For example, courts in GCC countries sometimes consider it appropriate to assume jurisdiction over a case filed before them which involves local assets (particularly land); and to apply local law regardless.</p>\r\n&nbsp;\r\n<h2 dir=\"LTR\" align=\"LEFT\">\"Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.\"</h2>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">b. Enforcement of Securities</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Lenders must carefully study and assess the enforceability of their security in the event of default. In some jurisdictions which impose fees or taxes, taking security over the deal assets, especially real property, may be costly. In these cases, a more practical security may take the form of a preferential claim to cash balances and revenues of the target/assets.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">c. Force Majeure Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Force majeure is a legal term of art describing the occurrence of an unexpected event outside the control of the affected party, as a result of which it becomes difficult or impossible for that party to perform obligations under a contract. Examples of force majeure include wars, riots, fires, floods and hurricanes. Such events also affect domestic deals, but force majeure events are less predictable for foreign counterparties in any cross-border deal.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Common law jurisdictions usually refuse to grant relief for force majeure events unless this is expressly provided for in the contract. In contrast, civil law jurisdictions usually grant the court the authority to alter the contract to restore its balance where there is a force majeure event. In all cases, courts in both systems will be influenced by, and consider, the express terms of the contract before making a decision.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Some force majeure risks are commercially insurable events. Others are uninsurable events. Commercially insurable events include fires, floods or storms and in these scenarios their risk may be mitigated by obtaining the necessary insurance policies. In contrast, riots and political disruptions are usually uninsurable. Hence, the parties should take into account insurance cover and allocate contractual risks accordingly, particularly as the inclusion of an indemnity in the deal contract can sometimes nullify insurance arrangements.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">d. Currency Fluctuations</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Currency fluctuations are common risks encountered with international transactions. Even with the most careful monitoring, fluctuations can be unpredictable and can greatly affect the economics of a project, the business and its profits. To mitigate this risk, it is ideal to contract with all parties in the transaction chain in the same currency, if possible. Another way to mitigate any exchange risk, is to hedge the currency risk. This method may incur hedging costs and also sacrifice gains from favourable fluctuations – but, if the tables are turned, it also mitigates any significant losses.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">e. Sovereign Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Sovereign risk is an inherit risk that is more heightened in some countries. One way to mitigate sovereign risk is by structuring investments in such a way that investment protection treaties with the host country can be triggered. An example of such is the use of acquisition vehicles to which investment protection treaties apply.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">f. Market Demand Risks</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">A product or service which proves successful in one country may not be successful in another. Many businesses have had to adapt their products or services significantly in order to conform to the cultural, religious traditions or realities of a new market. For example, online sales platforms work only if a large percentage of the target market holds credit cards. A thorough market study must be conducted before introducing a new product or service fresh to a jurisdiction to validate the introduction, assumptions or projections made by the party introducing it.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Conclusion</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The deal \"risk list\" above is by no means exhaustive. But it highlights the fact that risk allocations between the parties in any cross-border deal should be clearly documented and the main risks addressed. Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>Al Tamimi &amp; Company’s Corporate Commercial team regularly advises on commercial matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/alex-saleh/\">Alex Saleh</a> (<a href=\"mailto:alex.saleh@tamimi.com\">alex.saleh@tamimi.com</a>) or <a href=\"https://www.tamimi.com/lawyer/rana-el-nahal/\">Rana Elnahal</a> (<a href=\"mailto:r.elnahal@tamimi.com\">r.elnahal@tamimi.com</a>).</em></p>'),
(304669, 29109, 'MetaValueOld', '<p dir=\"LTR\" align=\"LEFT\">Most business transactions involve degrees of risk, which can never be eliminated entirely. An additional layer of risk inevitably accompanies any cross-border deal, and this article addresses the best way to manage these particular risks.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Cross-Border Deals and Legal Risks</h3>\r\n<img class=\"wp-image-8240 alignleft\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_09_Image_0001.jpg\" alt=\"\" width=\"624\" height=\"482\" />\r\n\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">a. Choice of Law and Forum:</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">In cross-border deals, choice of law and forum clauses deserve enhanced scrutiny and negotiation. If any dispute flares up, you will find that these choices will have already been locked in. Suddenly, they will loom large, and poor choices may cost you considerable money and time. Choice of law is quite distinct from the choice of forum. The choice of law is the set of laws which governs the substance of the contract, whilst forum is concerned with the dispute resolution body and the processes for final resolution.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(i) Choice of Law:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">The main factor in deciding which governing law should govern a contract is ease of enforcement of those contractual terms allocating risks between the parties. Some jurisdictions have less developed substantive legal rules and their laws do not fit comfortably with sophisticated transaction structures commonly seen in major financial centres. In such instances, local law may either override or fail to support the agreed contract terms, rendering the outcome of any dispute unpredictable.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Ideally, parties to a contract should choose a jurisdiction with a well-developed body of legal rules. Many international players prefer common law systems, mainly because they are accustomed to working within these legal systems. Moreover, common law systems carry with them a wealth of recognised precedents which can render dispute outcomes more predictable.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(ii) Choice of Forum:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">Selecting a forum involves two different choices. Firstly, whether the parties wish to submit to arbitration or a court process. Secondly, a choice as to the legal environment in which the dispute process will be conducted, a choice which needs to take into account supervision of the arbitration and/or access to an appellate court system.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Resolution by official courts can save the parties substantial costs associated with arbitration. Any arbitration has to be funded privately, including the fees of the arbitrators. Also, it is usually quicker and easier for courts to secure interim remedies and to compel disclosure of documents or information; in arbitrations, it is often necessary to go to court to secure these remedies anyway. Courts also allow for appeal processes from their judgements, a safeguard against capricious findings or error. Arbitration, on the other hand, gives the parties an opportunity to ensure that a dispute is determined by a technical expert, rather than a legally trained judge. The expert can act as the arbitrator and resolve the dispute without the successful party being exposed to drawn-out appeals. Nevertheless, the possibility of the arbitrator requiring correction or supervision will also be relevant to any choice of forum. In some jurisdictions, arbitrations move faster than court processes, in others they move more slowly.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">When choosing the legal environment for the forum, a neutral jurisdiction has advantages, and usually gives confidence to foreign-based counterparties, particularly in cases where one of the transaction parties is a governmental entity or has strong ties to the government. Meanwhile, selecting the jurisdiction which hosts the deal assets also has its advantages, as the dispute resolution forum will have power to make orders affecting those assets and may be convenient and accessible for involved experts or witnesses. Decisions of a court where the deal assets are located are usually more readily enforceable against those assets.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">A key point to consider in advance is whether a court of the jurisdiction hosting the deal assets will recognize and respect the parties’ contractual choice of forum. For example, courts in GCC countries sometimes consider it appropriate to assume jurisdiction over a case filed before them which involves local assets (particularly land); and to apply local law regardless.</p>\r\n&nbsp;\r\n<h2 dir=\"LTR\" align=\"LEFT\">\"Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.\"</h2>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">b. Enforcement of Securities</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Lenders must carefully study and assess the enforceability of their security in the event of default. In some jurisdictions which impose fees or taxes, taking security over the deal assets, especially real property, may be costly. In these cases, a more practical security may take the form of a preferential claim to cash balances and revenues of the target/assets.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">c. Force Majeure Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Force majeure is a legal term of art describing the occurrence of an unexpected event outside the control of the affected party, as a result of which it becomes difficult or impossible for that party to perform obligations under a contract. Examples of force majeure include wars, riots, fires, floods and hurricanes. Such events also affect domestic deals, but force majeure events are less predictable for foreign counterparties in any cross-border deal.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Common law jurisdictions usually refuse to grant relief for force majeure events unless this is expressly provided for in the contract. In contrast, civil law jurisdictions usually grant the court the authority to alter the contract to restore its balance where there is a force majeure event. In all cases, courts in both systems will be influenced by, and consider, the express terms of the contract before making a decision.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Some force majeure risks are commercially insurable events. Others are uninsurable events. Commercially insurable events include fires, floods or storms and in these scenarios their risk may be mitigated by obtaining the necessary insurance policies. In contrast, riots and political disruptions are usually uninsurable. Hence, the parties should take into account insurance cover and allocate contractual risks accordingly, particularly as the inclusion of an indemnity in the deal contract can sometimes nullify insurance arrangements.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">d. Currency Fluctuations</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Currency fluctuations are common risks encountered with international transactions. Even with the most careful monitoring, fluctuations can be unpredictable and can greatly affect the economics of a project, the business and its profits. To mitigate this risk, it is ideal to contract with all parties in the transaction chain in the same currency, if possible. Another way to mitigate any exchange risk, is to hedge the currency risk. This method may incur hedging costs and also sacrifice gains from favourable fluctuations – but, if the tables are turned, it also mitigates any significant losses.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">e. Sovereign Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Sovereign risk is an inherit risk that is more heightened in some countries. One way to mitigate sovereign risk is by structuring investments in such a way that investment protection treaties with the host country can be triggered. An example of such is the use of acquisition vehicles to which investment protection treaties apply.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">f. Market Demand Risks</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">A product or service which proves successful in one country may not be successful in another. Many businesses have had to adapt their products or services significantly in order to conform to the cultural, religious traditions or realities of a new market. For example, online sales platforms work only if a large percentage of the target market holds credit cards. A thorough market study must be conducted before introducing a new product or service fresh to a jurisdiction to validate the introduction, assumptions or projections made by the party introducing it.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Conclusion</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The deal \"risk list\" above is by no means exhaustive. But it highlights the fact that risk allocations between the parties in any cross-border deal should be clearly documented and the main risks addressed. Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>Al Tamimi &amp; Company’s Corporate Commercial team regularly advises on commercial matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/alex-saleh/\">Alex Saleh</a> (<a href=\"mailto:alex.saleh@tamimi.com\">alex.saleh@tamimi.com</a>) or <a href=\"https://www.tamimi.com/lawyer/rana-el-nahal/\">Rana Elnahal</a> (<a href=\"mailto:r.elnahal@tamimi.com\">r.elnahal@tamimi.com</a>).</em></p>'),
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(304672, 29109, 'ReportText', '<p dir=\"LTR\" align=\"LEFT\">Most business transactions involve degrees of risk, which can never be eliminated entirely. An additional layer of risk inevitably accompanies any cross-border deal, and this article addresses the best way to manage these particular risks.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Cross-Border Deals and Legal Risks</h3>\r\n<img class=\"wp-image-8240 alignleft\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_09_Image_0001.jpg\" alt=\"\" width=\"624\" height=\"482\" />\r\n\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">a. Choice of Law and Forum:</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">In cross-border deals, choice of law and forum clauses deserve enhanced scrutiny and negotiation. If any dispute flares up, you will find that these choices will have already been locked in. Suddenly, they will loom large, and poor choices may cost you considerable money and time. Choice of law is quite distinct from the choice of forum. The choice of law is the set of laws which governs the substance of the contract, whilst forum is concerned with the dispute resolution body and the processes for final resolution.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(i) Choice of Law:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">The main factor in deciding which governing law should govern a contract is ease of enforcement of those contractual terms allocating risks between the parties. Some jurisdictions have less developed substantive legal rules and their laws do not fit comfortably with sophisticated transaction structures commonly seen in major financial centres. In such instances, local law may either override or fail to support the agreed contract terms, rendering the outcome of any dispute unpredictable.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Ideally, parties to a contract should choose a jurisdiction with a well-developed body of legal rules. Many international players prefer common law systems, mainly because they are accustomed to working within these legal systems. Moreover, common law systems carry with them a wealth of recognised precedents which can render dispute outcomes more predictable.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(ii) Choice of Forum:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">Selecting a forum involves two different choices. Firstly, whether the parties wish to submit to arbitration or a court process. Secondly, a choice as to the legal environment in which the dispute process will be conducted, a choice which needs to take into account supervision of the arbitration and/or access to an appellate court system.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Resolution by official courts can save the parties substantial costs associated with arbitration. Any arbitration has to be funded privately, including the fees of the arbitrators. Also, it is usually quicker and easier for courts to secure interim remedies and to compel disclosure of documents or information; in arbitrations, it is often necessary to go to court to secure these remedies anyway. Courts also allow for appeal processes from their judgements, a safeguard against capricious findings or error. Arbitration, on the other hand, gives the parties an opportunity to ensure that a dispute is determined by a technical expert, rather than a legally trained judge. The expert can act as the arbitrator and resolve the dispute without the successful party being exposed to drawn-out appeals. Nevertheless, the possibility of the arbitrator requiring correction or supervision will also be relevant to any choice of forum. In some jurisdictions, arbitrations move faster than court processes, in others they move more slowly.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">When choosing the legal environment for the forum, a neutral jurisdiction has advantages, and usually gives confidence to foreign-based counterparties, particularly in cases where one of the transaction parties is a governmental entity or has strong ties to the government. Meanwhile, selecting the jurisdiction which hosts the deal assets also has its advantages, as the dispute resolution forum will have power to make orders affecting those assets and may be convenient and accessible for involved experts or witnesses. Decisions of a court where the deal assets are located are usually more readily enforceable against those assets.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">A key point to consider in advance is whether a court of the jurisdiction hosting the deal assets will recognize and respect the parties’ contractual choice of forum. For example, courts in GCC countries sometimes consider it appropriate to assume jurisdiction over a case filed before them which involves local assets (particularly land); and to apply local law regardless.</p>\r\n&nbsp;\r\n<h2 dir=\"LTR\" align=\"LEFT\">\"Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.\"</h2>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">b. Enforcement of Securities</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Lenders must carefully study and assess the enforceability of their security in the event of default. In some jurisdictions which impose fees or taxes, taking security over the deal assets, especially real property, may be costly. In these cases, a more practical security may take the form of a preferential claim to cash balances and revenues of the target/assets.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">c. Force Majeure Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Force majeure is a legal term of art describing the occurrence of an unexpected event outside the control of the affected party, as a result of which it becomes difficult or impossible for that party to perform obligations under a contract. Examples of force majeure include wars, riots, fires, floods and hurricanes. Such events also affect domestic deals, but force majeure events are less predictable for foreign counterparties in any cross-border deal.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Common law jurisdictions usually refuse to grant relief for force majeure events unless this is expressly provided for in the contract. In contrast, civil law jurisdictions usually grant the court the authority to alter the contract to restore its balance where there is a force majeure event. In all cases, courts in both systems will be influenced by, and consider, the express terms of the contract before making a decision.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Some force majeure risks are commercially insurable events. Others are uninsurable events. Commercially insurable events include fires, floods or storms and in these scenarios their risk may be mitigated by obtaining the necessary insurance policies. In contrast, riots and political disruptions are usually uninsurable. Hence, the parties should take into account insurance cover and allocate contractual risks accordingly, particularly as the inclusion of an indemnity in the deal contract can sometimes nullify insurance arrangements.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">d. Currency Fluctuations</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Currency fluctuations are common risks encountered with international transactions. Even with the most careful monitoring, fluctuations can be unpredictable and can greatly affect the economics of a project, the business and its profits. To mitigate this risk, it is ideal to contract with all parties in the transaction chain in the same currency, if possible. Another way to mitigate any exchange risk, is to hedge the currency risk. This method may incur hedging costs and also sacrifice gains from favourable fluctuations – but, if the tables are turned, it also mitigates any significant losses.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">e. Sovereign Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Sovereign risk is an inherit risk that is more heightened in some countries. One way to mitigate sovereign risk is by structuring investments in such a way that investment protection treaties with the host country can be triggered. An example of such is the use of acquisition vehicles to which investment protection treaties apply.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">f. Market Demand Risks</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">A product or service which proves successful in one country may not be successful in another. Many businesses have had to adapt their products or services significantly in order to conform to the cultural, religious traditions or realities of a new market. For example, online sales platforms work only if a large percentage of the target market holds credit cards. A thorough market study must be conducted before introducing a new product or service fresh to a jurisdiction to validate the introduction, assumptions or projections made by the party introducing it.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Conclusion</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The deal \"risk list\" above is by no means exhaustive. But it highlights the fact that risk allocations between the parties in any cross-border deal should be clearly documented and the main risks addressed. Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>Al Tamimi &amp; Company’s Corporate Commercial team regularly advises on commercial matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/alex-saleh/\">Alex Saleh</a> (<a href=\"mailto:alex.saleh@tamimi.com\">alex.saleh@tamimi.com</a>) or <a href=\"https://www.tamimi.com/lawyer/rana-el-nahal/\">Rana Elnahal</a> (<a href=\"mailto:r.elnahal@tamimi.com\">r.elnahal@tamimi.com</a>).</em></p>|<p dir=\"LTR\" align=\"LEFT\">Most business transactions involve degrees of risk, which can never be eliminated entirely. An additional layer of risk inevitably accompanies any cross-border deal, and this article addresses the best way to manage these particular risks.</p>\r\n&nbsp;\r\n\r\n<img class=\"wp-image-8240 alignleft\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_09_Image_0001.jpg\" alt=\"\" width=\"624\" height=\"482\" />\r\n<h3 dir=\"LTR\" align=\"LEFT\">Cross-Border Deals and Legal Risks</h3>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">a. Choice of Law and Forum:</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">In cross-border deals, choice of law and forum clauses deserve enhanced scrutiny and negotiation. If any dispute flares up, you will find that these choices will have already been locked in. Suddenly, they will loom large, and poor choices may cost you considerable money and time. Choice of law is quite distinct from the choice of forum. The choice of law is the set of laws which governs the substance of the contract, whilst forum is concerned with the dispute resolution body and the processes for final resolution.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(i) Choice of Law:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">The main factor in deciding which governing law should govern a contract is ease of enforcement of those contractual terms allocating risks between the parties. Some jurisdictions have less developed substantive legal rules and their laws do not fit comfortably with sophisticated transaction structures commonly seen in major financial centres. In such instances, local law may either override or fail to support the agreed contract terms, rendering the outcome of any dispute unpredictable.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Ideally, parties to a contract should choose a jurisdiction with a well-developed body of legal rules. Many international players prefer common law systems, mainly because they are accustomed to working within these legal systems. Moreover, common law systems carry with them a wealth of recognised precedents which can render dispute outcomes more predictable.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(ii) Choice of Forum:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">Selecting a forum involves two different choices. Firstly, whether the parties wish to submit to arbitration or a court process. Secondly, a choice as to the legal environment in which the dispute process will be conducted, a choice which needs to take into account supervision of the arbitration and/or access to an appellate court system.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Resolution by official courts can save the parties substantial costs associated with arbitration. Any arbitration has to be funded privately, including the fees of the arbitrators. Also, it is usually quicker and easier for courts to secure interim remedies and to compel disclosure of documents or information; in arbitrations, it is often necessary to go to court to secure these remedies anyway. Courts also allow for appeal processes from their judgements, a safeguard against capricious findings or error. Arbitration, on the other hand, gives the parties an opportunity to ensure that a dispute is determined by a technical expert, rather than a legally trained judge. The expert can act as the arbitrator and resolve the dispute without the successful party being exposed to drawn-out appeals. Nevertheless, the possibility of the arbitrator requiring correction or supervision will also be relevant to any choice of forum. In some jurisdictions, arbitrations move faster than court processes, in others they move more slowly.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">When choosing the legal environment for the forum, a neutral jurisdiction has advantages, and usually gives confidence to foreign-based counterparties, particularly in cases where one of the transaction parties is a governmental entity or has strong ties to the government. Meanwhile, selecting the jurisdiction which hosts the deal assets also has its advantages, as the dispute resolution forum will have power to make orders affecting those assets and may be convenient and accessible for involved experts or witnesses. Decisions of a court where the deal assets are located are usually more readily enforceable against those assets.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">A key point to consider in advance is whether a court of the jurisdiction hosting the deal assets will recognize and respect the parties’ contractual choice of forum. For example, courts in GCC countries sometimes consider it appropriate to assume jurisdiction over a case filed before them which involves local assets (particularly land); and to apply local law regardless.</p>\r\n&nbsp;\r\n<h2 dir=\"LTR\" align=\"LEFT\">\"Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.\"</h2>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">b. Enforcement of Securities</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Lenders must carefully study and assess the enforceability of their security in the event of default. In some jurisdictions which impose fees or taxes, taking security over the deal assets, especially real property, may be costly. In these cases, a more practical security may take the form of a preferential claim to cash balances and revenues of the target/assets.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">c. Force Majeure Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Force majeure is a legal term of art describing the occurrence of an unexpected event outside the control of the affected party, as a result of which it becomes difficult or impossible for that party to perform obligations under a contract. Examples of force majeure include wars, riots, fires, floods and hurricanes. Such events also affect domestic deals, but force majeure events are less predictable for foreign counterparties in any cross-border deal.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Common law jurisdictions usually refuse to grant relief for force majeure events unless this is expressly provided for in the contract. In contrast, civil law jurisdictions usually grant the court the authority to alter the contract to restore its balance where there is a force majeure event. In all cases, courts in both systems will be influenced by, and consider, the express terms of the contract before making a decision.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Some force majeure risks are commercially insurable events. Others are uninsurable events. Commercially insurable events include fires, floods or storms and in these scenarios their risk may be mitigated by obtaining the necessary insurance policies. In contrast, riots and political disruptions are usually uninsurable. Hence, the parties should take into account insurance cover and allocate contractual risks accordingly, particularly as the inclusion of an indemnity in the deal contract can sometimes nullify insurance arrangements.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">d. Currency Fluctuations</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Currency fluctuations are common risks encountered with international transactions. Even with the most careful monitoring, fluctuations can be unpredictable and can greatly affect the economics of a project, the business and its profits. To mitigate this risk, it is ideal to contract with all parties in the transaction chain in the same currency, if possible. Another way to mitigate any exchange risk, is to hedge the currency risk. This method may incur hedging costs and also sacrifice gains from favourable fluctuations – but, if the tables are turned, it also mitigates any significant losses.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">e. Sovereign Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Sovereign risk is an inherit risk that is more heightened in some countries. One way to mitigate sovereign risk is by structuring investments in such a way that investment protection treaties with the host country can be triggered. An example of such is the use of acquisition vehicles to which investment protection treaties apply.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">f. Market Demand Risks</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">A product or service which proves successful in one country may not be successful in another. Many businesses have had to adapt their products or services significantly in order to conform to the cultural, religious traditions or realities of a new market. For example, online sales platforms work only if a large percentage of the target market holds credit cards. A thorough market study must be conducted before introducing a new product or service fresh to a jurisdiction to validate the introduction, assumptions or projections made by the party introducing it.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Conclusion</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The deal \"risk list\" above is by no means exhaustive. But it highlights the fact that risk allocations between the parties in any cross-border deal should be clearly documented and the main risks addressed. Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>Al Tamimi &amp; Company’s Corporate Commercial team regularly advises on commercial matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/alex-saleh/\">Alex Saleh</a> (<a href=\"mailto:alex.saleh@tamimi.com\">alex.saleh@tamimi.com</a>) or <a href=\"https://www.tamimi.com/lawyer/rana-el-nahal/\">Rana Elnahal</a> (<a href=\"mailto:r.elnahal@tamimi.com\">r.elnahal@tamimi.com</a>).</em></p>'),
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(304722, 29113, 'MetaValueNew', '<p dir=\"LTR\" align=\"LEFT\">Most business transactions involve degrees of risk, which can never be eliminated entirely. An additional layer of risk inevitably accompanies any cross-border deal, and this article addresses the best way to manage these particular risks.</p>\r\n&nbsp;\r\n\r\n<img class=\"wp-image-8240 alignleft\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_09_Image_0001.jpg\" alt=\"\" width=\"555\" height=\"429\" />\r\n<h3 dir=\"LTR\" align=\"LEFT\">Cross-Border Deals and Legal Risks</h3>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">a. Choice of Law and Forum:</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">In cross-border deals, choice of law and forum clauses deserve enhanced scrutiny and negotiation. If any dispute flares up, you will find that these choices will have already been locked in. Suddenly, they will loom large, and poor choices may cost you considerable money and time. Choice of law is quite distinct from the choice of forum. The choice of law is the set of laws which governs the substance of the contract, whilst forum is concerned with the dispute resolution body and the processes for final resolution.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(i) Choice of Law:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">The main factor in deciding which governing law should govern a contract is ease of enforcement of those contractual terms allocating risks between the parties. Some jurisdictions have less developed substantive legal rules and their laws do not fit comfortably with sophisticated transaction structures commonly seen in major financial centres. In such instances, local law may either override or fail to support the agreed contract terms, rendering the outcome of any dispute unpredictable.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Ideally, parties to a contract should choose a jurisdiction with a well-developed body of legal rules. Many international players prefer common law systems, mainly because they are accustomed to working within these legal systems. Moreover, common law systems carry with them a wealth of recognised precedents which can render dispute outcomes more predictable.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(ii) Choice of Forum:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">Selecting a forum involves two different choices. Firstly, whether the parties wish to submit to arbitration or a court process. Secondly, a choice as to the legal environment in which the dispute process will be conducted, a choice which needs to take into account supervision of the arbitration and/or access to an appellate court system.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Resolution by official courts can save the parties substantial costs associated with arbitration. Any arbitration has to be funded privately, including the fees of the arbitrators. Also, it is usually quicker and easier for courts to secure interim remedies and to compel disclosure of documents or information; in arbitrations, it is often necessary to go to court to secure these remedies anyway. Courts also allow for appeal processes from their judgements, a safeguard against capricious findings or error. Arbitration, on the other hand, gives the parties an opportunity to ensure that a dispute is determined by a technical expert, rather than a legally trained judge. The expert can act as the arbitrator and resolve the dispute without the successful party being exposed to drawn-out appeals. Nevertheless, the possibility of the arbitrator requiring correction or supervision will also be relevant to any choice of forum. In some jurisdictions, arbitrations move faster than court processes, in others they move more slowly.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">When choosing the legal environment for the forum, a neutral jurisdiction has advantages, and usually gives confidence to foreign-based counterparties, particularly in cases where one of the transaction parties is a governmental entity or has strong ties to the government. Meanwhile, selecting the jurisdiction which hosts the deal assets also has its advantages, as the dispute resolution forum will have power to make orders affecting those assets and may be convenient and accessible for involved experts or witnesses. Decisions of a court where the deal assets are located are usually more readily enforceable against those assets.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">A key point to consider in advance is whether a court of the jurisdiction hosting the deal assets will recognize and respect the parties’ contractual choice of forum. For example, courts in GCC countries sometimes consider it appropriate to assume jurisdiction over a case filed before them which involves local assets (particularly land); and to apply local law regardless.</p>\r\n&nbsp;\r\n<h2 dir=\"LTR\" align=\"LEFT\">\"Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.\"</h2>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">b. Enforcement of Securities</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Lenders must carefully study and assess the enforceability of their security in the event of default. In some jurisdictions which impose fees or taxes, taking security over the deal assets, especially real property, may be costly. In these cases, a more practical security may take the form of a preferential claim to cash balances and revenues of the target/assets.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">c. Force Majeure Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Force majeure is a legal term of art describing the occurrence of an unexpected event outside the control of the affected party, as a result of which it becomes difficult or impossible for that party to perform obligations under a contract. Examples of force majeure include wars, riots, fires, floods and hurricanes. Such events also affect domestic deals, but force majeure events are less predictable for foreign counterparties in any cross-border deal.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Common law jurisdictions usually refuse to grant relief for force majeure events unless this is expressly provided for in the contract. In contrast, civil law jurisdictions usually grant the court the authority to alter the contract to restore its balance where there is a force majeure event. In all cases, courts in both systems will be influenced by, and consider, the express terms of the contract before making a decision.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Some force majeure risks are commercially insurable events. Others are uninsurable events. Commercially insurable events include fires, floods or storms and in these scenarios their risk may be mitigated by obtaining the necessary insurance policies. In contrast, riots and political disruptions are usually uninsurable. Hence, the parties should take into account insurance cover and allocate contractual risks accordingly, particularly as the inclusion of an indemnity in the deal contract can sometimes nullify insurance arrangements.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">d. Currency Fluctuations</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Currency fluctuations are common risks encountered with international transactions. Even with the most careful monitoring, fluctuations can be unpredictable and can greatly affect the economics of a project, the business and its profits. To mitigate this risk, it is ideal to contract with all parties in the transaction chain in the same currency, if possible. Another way to mitigate any exchange risk, is to hedge the currency risk. This method may incur hedging costs and also sacrifice gains from favourable fluctuations – but, if the tables are turned, it also mitigates any significant losses.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">e. Sovereign Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Sovereign risk is an inherit risk that is more heightened in some countries. One way to mitigate sovereign risk is by structuring investments in such a way that investment protection treaties with the host country can be triggered. An example of such is the use of acquisition vehicles to which investment protection treaties apply.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">f. Market Demand Risks</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">A product or service which proves successful in one country may not be successful in another. Many businesses have had to adapt their products or services significantly in order to conform to the cultural, religious traditions or realities of a new market. For example, online sales platforms work only if a large percentage of the target market holds credit cards. A thorough market study must be conducted before introducing a new product or service fresh to a jurisdiction to validate the introduction, assumptions or projections made by the party introducing it.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Conclusion</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The deal \"risk list\" above is by no means exhaustive. But it highlights the fact that risk allocations between the parties in any cross-border deal should be clearly documented and the main risks addressed. Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>Al Tamimi &amp; Company’s Corporate Commercial team regularly advises on commercial matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/alex-saleh/\">Alex Saleh</a> (<a href=\"mailto:alex.saleh@tamimi.com\">alex.saleh@tamimi.com</a>) or <a href=\"https://www.tamimi.com/lawyer/rana-el-nahal/\">Rana Elnahal</a> (<a href=\"mailto:r.elnahal@tamimi.com\">r.elnahal@tamimi.com</a>).</em></p>'),
(304723, 29113, 'MetaValueOld', '<p dir=\"LTR\" align=\"LEFT\">Most business transactions involve degrees of risk, which can never be eliminated entirely. An additional layer of risk inevitably accompanies any cross-border deal, and this article addresses the best way to manage these particular risks.</p>\r\n&nbsp;\r\n\r\n<img class=\"wp-image-8240 alignleft\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_09_Image_0001.jpg\" alt=\"\" width=\"624\" height=\"482\" />\r\n<h3 dir=\"LTR\" align=\"LEFT\">Cross-Border Deals and Legal Risks</h3>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">a. Choice of Law and Forum:</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">In cross-border deals, choice of law and forum clauses deserve enhanced scrutiny and negotiation. If any dispute flares up, you will find that these choices will have already been locked in. Suddenly, they will loom large, and poor choices may cost you considerable money and time. Choice of law is quite distinct from the choice of forum. The choice of law is the set of laws which governs the substance of the contract, whilst forum is concerned with the dispute resolution body and the processes for final resolution.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(i) Choice of Law:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">The main factor in deciding which governing law should govern a contract is ease of enforcement of those contractual terms allocating risks between the parties. Some jurisdictions have less developed substantive legal rules and their laws do not fit comfortably with sophisticated transaction structures commonly seen in major financial centres. In such instances, local law may either override or fail to support the agreed contract terms, rendering the outcome of any dispute unpredictable.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Ideally, parties to a contract should choose a jurisdiction with a well-developed body of legal rules. Many international players prefer common law systems, mainly because they are accustomed to working within these legal systems. Moreover, common law systems carry with them a wealth of recognised precedents which can render dispute outcomes more predictable.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(ii) Choice of Forum:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">Selecting a forum involves two different choices. Firstly, whether the parties wish to submit to arbitration or a court process. Secondly, a choice as to the legal environment in which the dispute process will be conducted, a choice which needs to take into account supervision of the arbitration and/or access to an appellate court system.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Resolution by official courts can save the parties substantial costs associated with arbitration. Any arbitration has to be funded privately, including the fees of the arbitrators. Also, it is usually quicker and easier for courts to secure interim remedies and to compel disclosure of documents or information; in arbitrations, it is often necessary to go to court to secure these remedies anyway. Courts also allow for appeal processes from their judgements, a safeguard against capricious findings or error. Arbitration, on the other hand, gives the parties an opportunity to ensure that a dispute is determined by a technical expert, rather than a legally trained judge. The expert can act as the arbitrator and resolve the dispute without the successful party being exposed to drawn-out appeals. Nevertheless, the possibility of the arbitrator requiring correction or supervision will also be relevant to any choice of forum. In some jurisdictions, arbitrations move faster than court processes, in others they move more slowly.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">When choosing the legal environment for the forum, a neutral jurisdiction has advantages, and usually gives confidence to foreign-based counterparties, particularly in cases where one of the transaction parties is a governmental entity or has strong ties to the government. Meanwhile, selecting the jurisdiction which hosts the deal assets also has its advantages, as the dispute resolution forum will have power to make orders affecting those assets and may be convenient and accessible for involved experts or witnesses. Decisions of a court where the deal assets are located are usually more readily enforceable against those assets.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">A key point to consider in advance is whether a court of the jurisdiction hosting the deal assets will recognize and respect the parties’ contractual choice of forum. For example, courts in GCC countries sometimes consider it appropriate to assume jurisdiction over a case filed before them which involves local assets (particularly land); and to apply local law regardless.</p>\r\n&nbsp;\r\n<h2 dir=\"LTR\" align=\"LEFT\">\"Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.\"</h2>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">b. Enforcement of Securities</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Lenders must carefully study and assess the enforceability of their security in the event of default. In some jurisdictions which impose fees or taxes, taking security over the deal assets, especially real property, may be costly. In these cases, a more practical security may take the form of a preferential claim to cash balances and revenues of the target/assets.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">c. Force Majeure Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Force majeure is a legal term of art describing the occurrence of an unexpected event outside the control of the affected party, as a result of which it becomes difficult or impossible for that party to perform obligations under a contract. Examples of force majeure include wars, riots, fires, floods and hurricanes. Such events also affect domestic deals, but force majeure events are less predictable for foreign counterparties in any cross-border deal.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Common law jurisdictions usually refuse to grant relief for force majeure events unless this is expressly provided for in the contract. In contrast, civil law jurisdictions usually grant the court the authority to alter the contract to restore its balance where there is a force majeure event. In all cases, courts in both systems will be influenced by, and consider, the express terms of the contract before making a decision.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Some force majeure risks are commercially insurable events. Others are uninsurable events. Commercially insurable events include fires, floods or storms and in these scenarios their risk may be mitigated by obtaining the necessary insurance policies. In contrast, riots and political disruptions are usually uninsurable. Hence, the parties should take into account insurance cover and allocate contractual risks accordingly, particularly as the inclusion of an indemnity in the deal contract can sometimes nullify insurance arrangements.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">d. Currency Fluctuations</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Currency fluctuations are common risks encountered with international transactions. Even with the most careful monitoring, fluctuations can be unpredictable and can greatly affect the economics of a project, the business and its profits. To mitigate this risk, it is ideal to contract with all parties in the transaction chain in the same currency, if possible. Another way to mitigate any exchange risk, is to hedge the currency risk. This method may incur hedging costs and also sacrifice gains from favourable fluctuations – but, if the tables are turned, it also mitigates any significant losses.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">e. Sovereign Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Sovereign risk is an inherit risk that is more heightened in some countries. One way to mitigate sovereign risk is by structuring investments in such a way that investment protection treaties with the host country can be triggered. An example of such is the use of acquisition vehicles to which investment protection treaties apply.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">f. Market Demand Risks</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">A product or service which proves successful in one country may not be successful in another. Many businesses have had to adapt their products or services significantly in order to conform to the cultural, religious traditions or realities of a new market. For example, online sales platforms work only if a large percentage of the target market holds credit cards. A thorough market study must be conducted before introducing a new product or service fresh to a jurisdiction to validate the introduction, assumptions or projections made by the party introducing it.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Conclusion</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The deal \"risk list\" above is by no means exhaustive. But it highlights the fact that risk allocations between the parties in any cross-border deal should be clearly documented and the main risks addressed. Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>Al Tamimi &amp; Company’s Corporate Commercial team regularly advises on commercial matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/alex-saleh/\">Alex Saleh</a> (<a href=\"mailto:alex.saleh@tamimi.com\">alex.saleh@tamimi.com</a>) or <a href=\"https://www.tamimi.com/lawyer/rana-el-nahal/\">Rana Elnahal</a> (<a href=\"mailto:r.elnahal@tamimi.com\">r.elnahal@tamimi.com</a>).</em></p>'),
(304724, 29113, 'MetaLink', 'content'),
(304725, 29113, 'EditorLinkPost', 'https://www.tamimi.com/wp-admin/post.php?post=8187&amp;action=edit'),
(304726, 29113, 'ReportText', '<p dir=\"LTR\" align=\"LEFT\">Most business transactions involve degrees of risk, which can never be eliminated entirely. An additional layer of risk inevitably accompanies any cross-border deal, and this article addresses the best way to manage these particular risks.</p>\r\n&nbsp;\r\n\r\n<img class=\"wp-image-8240 alignleft\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_09_Image_0001.jpg\" alt=\"\" width=\"624\" height=\"482\" />\r\n<h3 dir=\"LTR\" align=\"LEFT\">Cross-Border Deals and Legal Risks</h3>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">a. Choice of Law and Forum:</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">In cross-border deals, choice of law and forum clauses deserve enhanced scrutiny and negotiation. If any dispute flares up, you will find that these choices will have already been locked in. Suddenly, they will loom large, and poor choices may cost you considerable money and time. Choice of law is quite distinct from the choice of forum. The choice of law is the set of laws which governs the substance of the contract, whilst forum is concerned with the dispute resolution body and the processes for final resolution.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(i) Choice of Law:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">The main factor in deciding which governing law should govern a contract is ease of enforcement of those contractual terms allocating risks between the parties. Some jurisdictions have less developed substantive legal rules and their laws do not fit comfortably with sophisticated transaction structures commonly seen in major financial centres. In such instances, local law may either override or fail to support the agreed contract terms, rendering the outcome of any dispute unpredictable.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Ideally, parties to a contract should choose a jurisdiction with a well-developed body of legal rules. Many international players prefer common law systems, mainly because they are accustomed to working within these legal systems. Moreover, common law systems carry with them a wealth of recognised precedents which can render dispute outcomes more predictable.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(ii) Choice of Forum:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">Selecting a forum involves two different choices. Firstly, whether the parties wish to submit to arbitration or a court process. Secondly, a choice as to the legal environment in which the dispute process will be conducted, a choice which needs to take into account supervision of the arbitration and/or access to an appellate court system.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Resolution by official courts can save the parties substantial costs associated with arbitration. Any arbitration has to be funded privately, including the fees of the arbitrators. Also, it is usually quicker and easier for courts to secure interim remedies and to compel disclosure of documents or information; in arbitrations, it is often necessary to go to court to secure these remedies anyway. Courts also allow for appeal processes from their judgements, a safeguard against capricious findings or error. Arbitration, on the other hand, gives the parties an opportunity to ensure that a dispute is determined by a technical expert, rather than a legally trained judge. The expert can act as the arbitrator and resolve the dispute without the successful party being exposed to drawn-out appeals. Nevertheless, the possibility of the arbitrator requiring correction or supervision will also be relevant to any choice of forum. In some jurisdictions, arbitrations move faster than court processes, in others they move more slowly.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">When choosing the legal environment for the forum, a neutral jurisdiction has advantages, and usually gives confidence to foreign-based counterparties, particularly in cases where one of the transaction parties is a governmental entity or has strong ties to the government. Meanwhile, selecting the jurisdiction which hosts the deal assets also has its advantages, as the dispute resolution forum will have power to make orders affecting those assets and may be convenient and accessible for involved experts or witnesses. Decisions of a court where the deal assets are located are usually more readily enforceable against those assets.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">A key point to consider in advance is whether a court of the jurisdiction hosting the deal assets will recognize and respect the parties’ contractual choice of forum. For example, courts in GCC countries sometimes consider it appropriate to assume jurisdiction over a case filed before them which involves local assets (particularly land); and to apply local law regardless.</p>\r\n&nbsp;\r\n<h2 dir=\"LTR\" align=\"LEFT\">\"Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.\"</h2>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">b. Enforcement of Securities</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Lenders must carefully study and assess the enforceability of their security in the event of default. In some jurisdictions which impose fees or taxes, taking security over the deal assets, especially real property, may be costly. In these cases, a more practical security may take the form of a preferential claim to cash balances and revenues of the target/assets.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">c. Force Majeure Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Force majeure is a legal term of art describing the occurrence of an unexpected event outside the control of the affected party, as a result of which it becomes difficult or impossible for that party to perform obligations under a contract. Examples of force majeure include wars, riots, fires, floods and hurricanes. Such events also affect domestic deals, but force majeure events are less predictable for foreign counterparties in any cross-border deal.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Common law jurisdictions usually refuse to grant relief for force majeure events unless this is expressly provided for in the contract. In contrast, civil law jurisdictions usually grant the court the authority to alter the contract to restore its balance where there is a force majeure event. In all cases, courts in both systems will be influenced by, and consider, the express terms of the contract before making a decision.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Some force majeure risks are commercially insurable events. Others are uninsurable events. Commercially insurable events include fires, floods or storms and in these scenarios their risk may be mitigated by obtaining the necessary insurance policies. In contrast, riots and political disruptions are usually uninsurable. Hence, the parties should take into account insurance cover and allocate contractual risks accordingly, particularly as the inclusion of an indemnity in the deal contract can sometimes nullify insurance arrangements.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">d. Currency Fluctuations</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Currency fluctuations are common risks encountered with international transactions. Even with the most careful monitoring, fluctuations can be unpredictable and can greatly affect the economics of a project, the business and its profits. To mitigate this risk, it is ideal to contract with all parties in the transaction chain in the same currency, if possible. Another way to mitigate any exchange risk, is to hedge the currency risk. This method may incur hedging costs and also sacrifice gains from favourable fluctuations – but, if the tables are turned, it also mitigates any significant losses.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">e. Sovereign Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Sovereign risk is an inherit risk that is more heightened in some countries. One way to mitigate sovereign risk is by structuring investments in such a way that investment protection treaties with the host country can be triggered. An example of such is the use of acquisition vehicles to which investment protection treaties apply.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">f. Market Demand Risks</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">A product or service which proves successful in one country may not be successful in another. Many businesses have had to adapt their products or services significantly in order to conform to the cultural, religious traditions or realities of a new market. For example, online sales platforms work only if a large percentage of the target market holds credit cards. A thorough market study must be conducted before introducing a new product or service fresh to a jurisdiction to validate the introduction, assumptions or projections made by the party introducing it.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Conclusion</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The deal \"risk list\" above is by no means exhaustive. But it highlights the fact that risk allocations between the parties in any cross-border deal should be clearly documented and the main risks addressed. Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>Al Tamimi &amp; Company’s Corporate Commercial team regularly advises on commercial matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/alex-saleh/\">Alex Saleh</a> (<a href=\"mailto:alex.saleh@tamimi.com\">alex.saleh@tamimi.com</a>) or <a href=\"https://www.tamimi.com/lawyer/rana-el-nahal/\">Rana Elnahal</a> (<a href=\"mailto:r.elnahal@tamimi.com\">r.elnahal@tamimi.com</a>).</em></p>|<p dir=\"LTR\" align=\"LEFT\">Most business transactions involve degrees of risk, which can never be eliminated entirely. An additional layer of risk inevitably accompanies any cross-border deal, and this article addresses the best way to manage these particular risks.</p>\r\n&nbsp;\r\n\r\n<img class=\"wp-image-8240 alignleft\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_09_Image_0001.jpg\" alt=\"\" width=\"555\" height=\"429\" />\r\n<h3 dir=\"LTR\" align=\"LEFT\">Cross-Border Deals and Legal Risks</h3>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">a. Choice of Law and Forum:</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">In cross-border deals, choice of law and forum clauses deserve enhanced scrutiny and negotiation. If any dispute flares up, you will find that these choices will have already been locked in. Suddenly, they will loom large, and poor choices may cost you considerable money and time. Choice of law is quite distinct from the choice of forum. The choice of law is the set of laws which governs the substance of the contract, whilst forum is concerned with the dispute resolution body and the processes for final resolution.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(i) Choice of Law:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">The main factor in deciding which governing law should govern a contract is ease of enforcement of those contractual terms allocating risks between the parties. Some jurisdictions have less developed substantive legal rules and their laws do not fit comfortably with sophisticated transaction structures commonly seen in major financial centres. In such instances, local law may either override or fail to support the agreed contract terms, rendering the outcome of any dispute unpredictable.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Ideally, parties to a contract should choose a jurisdiction with a well-developed body of legal rules. Many international players prefer common law systems, mainly because they are accustomed to working within these legal systems. Moreover, common law systems carry with them a wealth of recognised precedents which can render dispute outcomes more predictable.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(ii) Choice of Forum:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">Selecting a forum involves two different choices. Firstly, whether the parties wish to submit to arbitration or a court process. Secondly, a choice as to the legal environment in which the dispute process will be conducted, a choice which needs to take into account supervision of the arbitration and/or access to an appellate court system.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Resolution by official courts can save the parties substantial costs associated with arbitration. Any arbitration has to be funded privately, including the fees of the arbitrators. Also, it is usually quicker and easier for courts to secure interim remedies and to compel disclosure of documents or information; in arbitrations, it is often necessary to go to court to secure these remedies anyway. Courts also allow for appeal processes from their judgements, a safeguard against capricious findings or error. Arbitration, on the other hand, gives the parties an opportunity to ensure that a dispute is determined by a technical expert, rather than a legally trained judge. The expert can act as the arbitrator and resolve the dispute without the successful party being exposed to drawn-out appeals. Nevertheless, the possibility of the arbitrator requiring correction or supervision will also be relevant to any choice of forum. In some jurisdictions, arbitrations move faster than court processes, in others they move more slowly.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">When choosing the legal environment for the forum, a neutral jurisdiction has advantages, and usually gives confidence to foreign-based counterparties, particularly in cases where one of the transaction parties is a governmental entity or has strong ties to the government. Meanwhile, selecting the jurisdiction which hosts the deal assets also has its advantages, as the dispute resolution forum will have power to make orders affecting those assets and may be convenient and accessible for involved experts or witnesses. Decisions of a court where the deal assets are located are usually more readily enforceable against those assets.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">A key point to consider in advance is whether a court of the jurisdiction hosting the deal assets will recognize and respect the parties’ contractual choice of forum. For example, courts in GCC countries sometimes consider it appropriate to assume jurisdiction over a case filed before them which involves local assets (particularly land); and to apply local law regardless.</p>\r\n&nbsp;\r\n<h2 dir=\"LTR\" align=\"LEFT\">\"Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.\"</h2>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">b. Enforcement of Securities</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Lenders must carefully study and assess the enforceability of their security in the event of default. In some jurisdictions which impose fees or taxes, taking security over the deal assets, especially real property, may be costly. In these cases, a more practical security may take the form of a preferential claim to cash balances and revenues of the target/assets.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">c. Force Majeure Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Force majeure is a legal term of art describing the occurrence of an unexpected event outside the control of the affected party, as a result of which it becomes difficult or impossible for that party to perform obligations under a contract. Examples of force majeure include wars, riots, fires, floods and hurricanes. Such events also affect domestic deals, but force majeure events are less predictable for foreign counterparties in any cross-border deal.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Common law jurisdictions usually refuse to grant relief for force majeure events unless this is expressly provided for in the contract. In contrast, civil law jurisdictions usually grant the court the authority to alter the contract to restore its balance where there is a force majeure event. In all cases, courts in both systems will be influenced by, and consider, the express terms of the contract before making a decision.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Some force majeure risks are commercially insurable events. Others are uninsurable events. Commercially insurable events include fires, floods or storms and in these scenarios their risk may be mitigated by obtaining the necessary insurance policies. In contrast, riots and political disruptions are usually uninsurable. Hence, the parties should take into account insurance cover and allocate contractual risks accordingly, particularly as the inclusion of an indemnity in the deal contract can sometimes nullify insurance arrangements.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">d. Currency Fluctuations</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Currency fluctuations are common risks encountered with international transactions. Even with the most careful monitoring, fluctuations can be unpredictable and can greatly affect the economics of a project, the business and its profits. To mitigate this risk, it is ideal to contract with all parties in the transaction chain in the same currency, if possible. Another way to mitigate any exchange risk, is to hedge the currency risk. This method may incur hedging costs and also sacrifice gains from favourable fluctuations – but, if the tables are turned, it also mitigates any significant losses.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">e. Sovereign Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Sovereign risk is an inherit risk that is more heightened in some countries. One way to mitigate sovereign risk is by structuring investments in such a way that investment protection treaties with the host country can be triggered. An example of such is the use of acquisition vehicles to which investment protection treaties apply.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">f. Market Demand Risks</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">A product or service which proves successful in one country may not be successful in another. Many businesses have had to adapt their products or services significantly in order to conform to the cultural, religious traditions or realities of a new market. For example, online sales platforms work only if a large percentage of the target market holds credit cards. A thorough market study must be conducted before introducing a new product or service fresh to a jurisdiction to validate the introduction, assumptions or projections made by the party introducing it.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Conclusion</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The deal \"risk list\" above is by no means exhaustive. But it highlights the fact that risk allocations between the parties in any cross-border deal should be clearly documented and the main risks addressed. Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>Al Tamimi &amp; Company’s Corporate Commercial team regularly advises on commercial matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/alex-saleh/\">Alex Saleh</a> (<a href=\"mailto:alex.saleh@tamimi.com\">alex.saleh@tamimi.com</a>) or <a href=\"https://www.tamimi.com/lawyer/rana-el-nahal/\">Rana Elnahal</a> (<a href=\"mailto:r.elnahal@tamimi.com\">r.elnahal@tamimi.com</a>).</em></p>'),
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(304788, 29118, 'MetaValueNew', '<p dir=\"LTR\" align=\"LEFT\">Most business transactions involve degrees of risk, which can never be eliminated entirely. An additional layer of risk inevitably accompanies any cross-border deal, and this article addresses the best way to manage these particular risks.</p>\r\n&nbsp;\r\n\r\n<img class=\"wp-image-8240 alignleft\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_09_Image_0001.jpg\" alt=\"\" width=\"466\" height=\"360\" />\r\n<h3 dir=\"LTR\" align=\"LEFT\">Cross-Border Deals and Legal Risks</h3>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">a. Choice of Law and Forum:</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">In cross-border deals, choice of law and forum clauses deserve enhanced scrutiny and negotiation. If any dispute flares up, you will find that these choices will have already been locked in. Suddenly, they will loom large, and poor choices may cost you considerable money and time. Choice of law is quite distinct from the choice of forum. The choice of law is the set of laws which governs the substance of the contract, whilst forum is concerned with the dispute resolution body and the processes for final resolution.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(i) Choice of Law:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">The main factor in deciding which governing law should govern a contract is ease of enforcement of those contractual terms allocating risks between the parties. Some jurisdictions have less developed substantive legal rules and their laws do not fit comfortably with sophisticated transaction structures commonly seen in major financial centres. In such instances, local law may either override or fail to support the agreed contract terms, rendering the outcome of any dispute unpredictable.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Ideally, parties to a contract should choose a jurisdiction with a well-developed body of legal rules. Many international players prefer common law systems, mainly because they are accustomed to working within these legal systems. Moreover, common law systems carry with them a wealth of recognised precedents which can render dispute outcomes more predictable.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(ii) Choice of Forum:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">Selecting a forum involves two different choices. Firstly, whether the parties wish to submit to arbitration or a court process. Secondly, a choice as to the legal environment in which the dispute process will be conducted, a choice which needs to take into account supervision of the arbitration and/or access to an appellate court system.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Resolution by official courts can save the parties substantial costs associated with arbitration. Any arbitration has to be funded privately, including the fees of the arbitrators. Also, it is usually quicker and easier for courts to secure interim remedies and to compel disclosure of documents or information; in arbitrations, it is often necessary to go to court to secure these remedies anyway. Courts also allow for appeal processes from their judgements, a safeguard against capricious findings or error. Arbitration, on the other hand, gives the parties an opportunity to ensure that a dispute is determined by a technical expert, rather than a legally trained judge. The expert can act as the arbitrator and resolve the dispute without the successful party being exposed to drawn-out appeals. Nevertheless, the possibility of the arbitrator requiring correction or supervision will also be relevant to any choice of forum. In some jurisdictions, arbitrations move faster than court processes, in others they move more slowly.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">When choosing the legal environment for the forum, a neutral jurisdiction has advantages, and usually gives confidence to foreign-based counterparties, particularly in cases where one of the transaction parties is a governmental entity or has strong ties to the government. Meanwhile, selecting the jurisdiction which hosts the deal assets also has its advantages, as the dispute resolution forum will have power to make orders affecting those assets and may be convenient and accessible for involved experts or witnesses. Decisions of a court where the deal assets are located are usually more readily enforceable against those assets.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">A key point to consider in advance is whether a court of the jurisdiction hosting the deal assets will recognize and respect the parties’ contractual choice of forum. For example, courts in GCC countries sometimes consider it appropriate to assume jurisdiction over a case filed before them which involves local assets (particularly land); and to apply local law regardless.</p>\r\n&nbsp;\r\n<h2 dir=\"LTR\" align=\"LEFT\">\"Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.\"</h2>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">b. Enforcement of Securities</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Lenders must carefully study and assess the enforceability of their security in the event of default. In some jurisdictions which impose fees or taxes, taking security over the deal assets, especially real property, may be costly. In these cases, a more practical security may take the form of a preferential claim to cash balances and revenues of the target/assets.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">c. Force Majeure Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Force majeure is a legal term of art describing the occurrence of an unexpected event outside the control of the affected party, as a result of which it becomes difficult or impossible for that party to perform obligations under a contract. Examples of force majeure include wars, riots, fires, floods and hurricanes. Such events also affect domestic deals, but force majeure events are less predictable for foreign counterparties in any cross-border deal.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Common law jurisdictions usually refuse to grant relief for force majeure events unless this is expressly provided for in the contract. In contrast, civil law jurisdictions usually grant the court the authority to alter the contract to restore its balance where there is a force majeure event. In all cases, courts in both systems will be influenced by, and consider, the express terms of the contract before making a decision.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Some force majeure risks are commercially insurable events. Others are uninsurable events. Commercially insurable events include fires, floods or storms and in these scenarios their risk may be mitigated by obtaining the necessary insurance policies. In contrast, riots and political disruptions are usually uninsurable. Hence, the parties should take into account insurance cover and allocate contractual risks accordingly, particularly as the inclusion of an indemnity in the deal contract can sometimes nullify insurance arrangements.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">d. Currency Fluctuations</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Currency fluctuations are common risks encountered with international transactions. Even with the most careful monitoring, fluctuations can be unpredictable and can greatly affect the economics of a project, the business and its profits. To mitigate this risk, it is ideal to contract with all parties in the transaction chain in the same currency, if possible. Another way to mitigate any exchange risk, is to hedge the currency risk. This method may incur hedging costs and also sacrifice gains from favourable fluctuations – but, if the tables are turned, it also mitigates any significant losses.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">e. Sovereign Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Sovereign risk is an inherit risk that is more heightened in some countries. One way to mitigate sovereign risk is by structuring investments in such a way that investment protection treaties with the host country can be triggered. An example of such is the use of acquisition vehicles to which investment protection treaties apply.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">f. Market Demand Risks</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">A product or service which proves successful in one country may not be successful in another. Many businesses have had to adapt their products or services significantly in order to conform to the cultural, religious traditions or realities of a new market. For example, online sales platforms work only if a large percentage of the target market holds credit cards. A thorough market study must be conducted before introducing a new product or service fresh to a jurisdiction to validate the introduction, assumptions or projections made by the party introducing it.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Conclusion</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The deal \"risk list\" above is by no means exhaustive. But it highlights the fact that risk allocations between the parties in any cross-border deal should be clearly documented and the main risks addressed. Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>Al Tamimi &amp; Company’s Corporate Commercial team regularly advises on commercial matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/alex-saleh/\">Alex Saleh</a> (<a href=\"mailto:alex.saleh@tamimi.com\">alex.saleh@tamimi.com</a>) or <a href=\"https://www.tamimi.com/lawyer/rana-el-nahal/\">Rana Elnahal</a> (<a href=\"mailto:r.elnahal@tamimi.com\">r.elnahal@tamimi.com</a>).</em></p>'),
(304789, 29118, 'MetaValueOld', '<p dir=\"LTR\" align=\"LEFT\">Most business transactions involve degrees of risk, which can never be eliminated entirely. An additional layer of risk inevitably accompanies any cross-border deal, and this article addresses the best way to manage these particular risks.</p>\r\n&nbsp;\r\n\r\n<img class=\"wp-image-8240 alignleft\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_09_Image_0001.jpg\" alt=\"\" width=\"555\" height=\"429\" />\r\n<h3 dir=\"LTR\" align=\"LEFT\">Cross-Border Deals and Legal Risks</h3>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">a. Choice of Law and Forum:</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">In cross-border deals, choice of law and forum clauses deserve enhanced scrutiny and negotiation. If any dispute flares up, you will find that these choices will have already been locked in. Suddenly, they will loom large, and poor choices may cost you considerable money and time. Choice of law is quite distinct from the choice of forum. The choice of law is the set of laws which governs the substance of the contract, whilst forum is concerned with the dispute resolution body and the processes for final resolution.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(i) Choice of Law:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">The main factor in deciding which governing law should govern a contract is ease of enforcement of those contractual terms allocating risks between the parties. Some jurisdictions have less developed substantive legal rules and their laws do not fit comfortably with sophisticated transaction structures commonly seen in major financial centres. In such instances, local law may either override or fail to support the agreed contract terms, rendering the outcome of any dispute unpredictable.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Ideally, parties to a contract should choose a jurisdiction with a well-developed body of legal rules. Many international players prefer common law systems, mainly because they are accustomed to working within these legal systems. Moreover, common law systems carry with them a wealth of recognised precedents which can render dispute outcomes more predictable.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(ii) Choice of Forum:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">Selecting a forum involves two different choices. Firstly, whether the parties wish to submit to arbitration or a court process. Secondly, a choice as to the legal environment in which the dispute process will be conducted, a choice which needs to take into account supervision of the arbitration and/or access to an appellate court system.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Resolution by official courts can save the parties substantial costs associated with arbitration. Any arbitration has to be funded privately, including the fees of the arbitrators. Also, it is usually quicker and easier for courts to secure interim remedies and to compel disclosure of documents or information; in arbitrations, it is often necessary to go to court to secure these remedies anyway. Courts also allow for appeal processes from their judgements, a safeguard against capricious findings or error. Arbitration, on the other hand, gives the parties an opportunity to ensure that a dispute is determined by a technical expert, rather than a legally trained judge. The expert can act as the arbitrator and resolve the dispute without the successful party being exposed to drawn-out appeals. Nevertheless, the possibility of the arbitrator requiring correction or supervision will also be relevant to any choice of forum. In some jurisdictions, arbitrations move faster than court processes, in others they move more slowly.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">When choosing the legal environment for the forum, a neutral jurisdiction has advantages, and usually gives confidence to foreign-based counterparties, particularly in cases where one of the transaction parties is a governmental entity or has strong ties to the government. Meanwhile, selecting the jurisdiction which hosts the deal assets also has its advantages, as the dispute resolution forum will have power to make orders affecting those assets and may be convenient and accessible for involved experts or witnesses. Decisions of a court where the deal assets are located are usually more readily enforceable against those assets.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">A key point to consider in advance is whether a court of the jurisdiction hosting the deal assets will recognize and respect the parties’ contractual choice of forum. For example, courts in GCC countries sometimes consider it appropriate to assume jurisdiction over a case filed before them which involves local assets (particularly land); and to apply local law regardless.</p>\r\n&nbsp;\r\n<h2 dir=\"LTR\" align=\"LEFT\">\"Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.\"</h2>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">b. Enforcement of Securities</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Lenders must carefully study and assess the enforceability of their security in the event of default. In some jurisdictions which impose fees or taxes, taking security over the deal assets, especially real property, may be costly. In these cases, a more practical security may take the form of a preferential claim to cash balances and revenues of the target/assets.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">c. Force Majeure Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Force majeure is a legal term of art describing the occurrence of an unexpected event outside the control of the affected party, as a result of which it becomes difficult or impossible for that party to perform obligations under a contract. Examples of force majeure include wars, riots, fires, floods and hurricanes. Such events also affect domestic deals, but force majeure events are less predictable for foreign counterparties in any cross-border deal.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Common law jurisdictions usually refuse to grant relief for force majeure events unless this is expressly provided for in the contract. In contrast, civil law jurisdictions usually grant the court the authority to alter the contract to restore its balance where there is a force majeure event. In all cases, courts in both systems will be influenced by, and consider, the express terms of the contract before making a decision.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Some force majeure risks are commercially insurable events. Others are uninsurable events. Commercially insurable events include fires, floods or storms and in these scenarios their risk may be mitigated by obtaining the necessary insurance policies. In contrast, riots and political disruptions are usually uninsurable. Hence, the parties should take into account insurance cover and allocate contractual risks accordingly, particularly as the inclusion of an indemnity in the deal contract can sometimes nullify insurance arrangements.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">d. Currency Fluctuations</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Currency fluctuations are common risks encountered with international transactions. Even with the most careful monitoring, fluctuations can be unpredictable and can greatly affect the economics of a project, the business and its profits. To mitigate this risk, it is ideal to contract with all parties in the transaction chain in the same currency, if possible. Another way to mitigate any exchange risk, is to hedge the currency risk. This method may incur hedging costs and also sacrifice gains from favourable fluctuations – but, if the tables are turned, it also mitigates any significant losses.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">e. Sovereign Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Sovereign risk is an inherit risk that is more heightened in some countries. One way to mitigate sovereign risk is by structuring investments in such a way that investment protection treaties with the host country can be triggered. An example of such is the use of acquisition vehicles to which investment protection treaties apply.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">f. Market Demand Risks</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">A product or service which proves successful in one country may not be successful in another. Many businesses have had to adapt their products or services significantly in order to conform to the cultural, religious traditions or realities of a new market. For example, online sales platforms work only if a large percentage of the target market holds credit cards. A thorough market study must be conducted before introducing a new product or service fresh to a jurisdiction to validate the introduction, assumptions or projections made by the party introducing it.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Conclusion</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The deal \"risk list\" above is by no means exhaustive. But it highlights the fact that risk allocations between the parties in any cross-border deal should be clearly documented and the main risks addressed. Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>Al Tamimi &amp; Company’s Corporate Commercial team regularly advises on commercial matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/alex-saleh/\">Alex Saleh</a> (<a href=\"mailto:alex.saleh@tamimi.com\">alex.saleh@tamimi.com</a>) or <a href=\"https://www.tamimi.com/lawyer/rana-el-nahal/\">Rana Elnahal</a> (<a href=\"mailto:r.elnahal@tamimi.com\">r.elnahal@tamimi.com</a>).</em></p>'),
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(304792, 29118, 'ReportText', '<p dir=\"LTR\" align=\"LEFT\">Most business transactions involve degrees of risk, which can never be eliminated entirely. An additional layer of risk inevitably accompanies any cross-border deal, and this article addresses the best way to manage these particular risks.</p>\r\n&nbsp;\r\n\r\n<img class=\"wp-image-8240 alignleft\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_09_Image_0001.jpg\" alt=\"\" width=\"555\" height=\"429\" />\r\n<h3 dir=\"LTR\" align=\"LEFT\">Cross-Border Deals and Legal Risks</h3>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">a. Choice of Law and Forum:</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">In cross-border deals, choice of law and forum clauses deserve enhanced scrutiny and negotiation. If any dispute flares up, you will find that these choices will have already been locked in. Suddenly, they will loom large, and poor choices may cost you considerable money and time. Choice of law is quite distinct from the choice of forum. The choice of law is the set of laws which governs the substance of the contract, whilst forum is concerned with the dispute resolution body and the processes for final resolution.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(i) Choice of Law:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">The main factor in deciding which governing law should govern a contract is ease of enforcement of those contractual terms allocating risks between the parties. Some jurisdictions have less developed substantive legal rules and their laws do not fit comfortably with sophisticated transaction structures commonly seen in major financial centres. In such instances, local law may either override or fail to support the agreed contract terms, rendering the outcome of any dispute unpredictable.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Ideally, parties to a contract should choose a jurisdiction with a well-developed body of legal rules. Many international players prefer common law systems, mainly because they are accustomed to working within these legal systems. Moreover, common law systems carry with them a wealth of recognised precedents which can render dispute outcomes more predictable.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(ii) Choice of Forum:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">Selecting a forum involves two different choices. Firstly, whether the parties wish to submit to arbitration or a court process. Secondly, a choice as to the legal environment in which the dispute process will be conducted, a choice which needs to take into account supervision of the arbitration and/or access to an appellate court system.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Resolution by official courts can save the parties substantial costs associated with arbitration. Any arbitration has to be funded privately, including the fees of the arbitrators. Also, it is usually quicker and easier for courts to secure interim remedies and to compel disclosure of documents or information; in arbitrations, it is often necessary to go to court to secure these remedies anyway. Courts also allow for appeal processes from their judgements, a safeguard against capricious findings or error. Arbitration, on the other hand, gives the parties an opportunity to ensure that a dispute is determined by a technical expert, rather than a legally trained judge. The expert can act as the arbitrator and resolve the dispute without the successful party being exposed to drawn-out appeals. Nevertheless, the possibility of the arbitrator requiring correction or supervision will also be relevant to any choice of forum. In some jurisdictions, arbitrations move faster than court processes, in others they move more slowly.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">When choosing the legal environment for the forum, a neutral jurisdiction has advantages, and usually gives confidence to foreign-based counterparties, particularly in cases where one of the transaction parties is a governmental entity or has strong ties to the government. Meanwhile, selecting the jurisdiction which hosts the deal assets also has its advantages, as the dispute resolution forum will have power to make orders affecting those assets and may be convenient and accessible for involved experts or witnesses. Decisions of a court where the deal assets are located are usually more readily enforceable against those assets.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">A key point to consider in advance is whether a court of the jurisdiction hosting the deal assets will recognize and respect the parties’ contractual choice of forum. For example, courts in GCC countries sometimes consider it appropriate to assume jurisdiction over a case filed before them which involves local assets (particularly land); and to apply local law regardless.</p>\r\n&nbsp;\r\n<h2 dir=\"LTR\" align=\"LEFT\">\"Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.\"</h2>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">b. Enforcement of Securities</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Lenders must carefully study and assess the enforceability of their security in the event of default. In some jurisdictions which impose fees or taxes, taking security over the deal assets, especially real property, may be costly. In these cases, a more practical security may take the form of a preferential claim to cash balances and revenues of the target/assets.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">c. Force Majeure Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Force majeure is a legal term of art describing the occurrence of an unexpected event outside the control of the affected party, as a result of which it becomes difficult or impossible for that party to perform obligations under a contract. Examples of force majeure include wars, riots, fires, floods and hurricanes. Such events also affect domestic deals, but force majeure events are less predictable for foreign counterparties in any cross-border deal.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Common law jurisdictions usually refuse to grant relief for force majeure events unless this is expressly provided for in the contract. In contrast, civil law jurisdictions usually grant the court the authority to alter the contract to restore its balance where there is a force majeure event. In all cases, courts in both systems will be influenced by, and consider, the express terms of the contract before making a decision.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Some force majeure risks are commercially insurable events. Others are uninsurable events. Commercially insurable events include fires, floods or storms and in these scenarios their risk may be mitigated by obtaining the necessary insurance policies. In contrast, riots and political disruptions are usually uninsurable. Hence, the parties should take into account insurance cover and allocate contractual risks accordingly, particularly as the inclusion of an indemnity in the deal contract can sometimes nullify insurance arrangements.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">d. Currency Fluctuations</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Currency fluctuations are common risks encountered with international transactions. Even with the most careful monitoring, fluctuations can be unpredictable and can greatly affect the economics of a project, the business and its profits. To mitigate this risk, it is ideal to contract with all parties in the transaction chain in the same currency, if possible. Another way to mitigate any exchange risk, is to hedge the currency risk. This method may incur hedging costs and also sacrifice gains from favourable fluctuations – but, if the tables are turned, it also mitigates any significant losses.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">e. Sovereign Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Sovereign risk is an inherit risk that is more heightened in some countries. One way to mitigate sovereign risk is by structuring investments in such a way that investment protection treaties with the host country can be triggered. An example of such is the use of acquisition vehicles to which investment protection treaties apply.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">f. Market Demand Risks</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">A product or service which proves successful in one country may not be successful in another. Many businesses have had to adapt their products or services significantly in order to conform to the cultural, religious traditions or realities of a new market. For example, online sales platforms work only if a large percentage of the target market holds credit cards. A thorough market study must be conducted before introducing a new product or service fresh to a jurisdiction to validate the introduction, assumptions or projections made by the party introducing it.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Conclusion</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The deal \"risk list\" above is by no means exhaustive. But it highlights the fact that risk allocations between the parties in any cross-border deal should be clearly documented and the main risks addressed. Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>Al Tamimi &amp; Company’s Corporate Commercial team regularly advises on commercial matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/alex-saleh/\">Alex Saleh</a> (<a href=\"mailto:alex.saleh@tamimi.com\">alex.saleh@tamimi.com</a>) or <a href=\"https://www.tamimi.com/lawyer/rana-el-nahal/\">Rana Elnahal</a> (<a href=\"mailto:r.elnahal@tamimi.com\">r.elnahal@tamimi.com</a>).</em></p>|<p dir=\"LTR\" align=\"LEFT\">Most business transactions involve degrees of risk, which can never be eliminated entirely. An additional layer of risk inevitably accompanies any cross-border deal, and this article addresses the best way to manage these particular risks.</p>\r\n&nbsp;\r\n\r\n<img class=\"wp-image-8240 alignleft\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_09_Image_0001.jpg\" alt=\"\" width=\"466\" height=\"360\" />\r\n<h3 dir=\"LTR\" align=\"LEFT\">Cross-Border Deals and Legal Risks</h3>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">a. Choice of Law and Forum:</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">In cross-border deals, choice of law and forum clauses deserve enhanced scrutiny and negotiation. If any dispute flares up, you will find that these choices will have already been locked in. Suddenly, they will loom large, and poor choices may cost you considerable money and time. Choice of law is quite distinct from the choice of forum. The choice of law is the set of laws which governs the substance of the contract, whilst forum is concerned with the dispute resolution body and the processes for final resolution.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(i) Choice of Law:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">The main factor in deciding which governing law should govern a contract is ease of enforcement of those contractual terms allocating risks between the parties. Some jurisdictions have less developed substantive legal rules and their laws do not fit comfortably with sophisticated transaction structures commonly seen in major financial centres. In such instances, local law may either override or fail to support the agreed contract terms, rendering the outcome of any dispute unpredictable.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Ideally, parties to a contract should choose a jurisdiction with a well-developed body of legal rules. Many international players prefer common law systems, mainly because they are accustomed to working within these legal systems. Moreover, common law systems carry with them a wealth of recognised precedents which can render dispute outcomes more predictable.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(ii) Choice of Forum:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">Selecting a forum involves two different choices. Firstly, whether the parties wish to submit to arbitration or a court process. Secondly, a choice as to the legal environment in which the dispute process will be conducted, a choice which needs to take into account supervision of the arbitration and/or access to an appellate court system.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Resolution by official courts can save the parties substantial costs associated with arbitration. Any arbitration has to be funded privately, including the fees of the arbitrators. Also, it is usually quicker and easier for courts to secure interim remedies and to compel disclosure of documents or information; in arbitrations, it is often necessary to go to court to secure these remedies anyway. Courts also allow for appeal processes from their judgements, a safeguard against capricious findings or error. Arbitration, on the other hand, gives the parties an opportunity to ensure that a dispute is determined by a technical expert, rather than a legally trained judge. The expert can act as the arbitrator and resolve the dispute without the successful party being exposed to drawn-out appeals. Nevertheless, the possibility of the arbitrator requiring correction or supervision will also be relevant to any choice of forum. In some jurisdictions, arbitrations move faster than court processes, in others they move more slowly.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">When choosing the legal environment for the forum, a neutral jurisdiction has advantages, and usually gives confidence to foreign-based counterparties, particularly in cases where one of the transaction parties is a governmental entity or has strong ties to the government. Meanwhile, selecting the jurisdiction which hosts the deal assets also has its advantages, as the dispute resolution forum will have power to make orders affecting those assets and may be convenient and accessible for involved experts or witnesses. Decisions of a court where the deal assets are located are usually more readily enforceable against those assets.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">A key point to consider in advance is whether a court of the jurisdiction hosting the deal assets will recognize and respect the parties’ contractual choice of forum. For example, courts in GCC countries sometimes consider it appropriate to assume jurisdiction over a case filed before them which involves local assets (particularly land); and to apply local law regardless.</p>\r\n&nbsp;\r\n<h2 dir=\"LTR\" align=\"LEFT\">\"Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.\"</h2>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">b. Enforcement of Securities</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Lenders must carefully study and assess the enforceability of their security in the event of default. In some jurisdictions which impose fees or taxes, taking security over the deal assets, especially real property, may be costly. In these cases, a more practical security may take the form of a preferential claim to cash balances and revenues of the target/assets.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">c. Force Majeure Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Force majeure is a legal term of art describing the occurrence of an unexpected event outside the control of the affected party, as a result of which it becomes difficult or impossible for that party to perform obligations under a contract. Examples of force majeure include wars, riots, fires, floods and hurricanes. Such events also affect domestic deals, but force majeure events are less predictable for foreign counterparties in any cross-border deal.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Common law jurisdictions usually refuse to grant relief for force majeure events unless this is expressly provided for in the contract. In contrast, civil law jurisdictions usually grant the court the authority to alter the contract to restore its balance where there is a force majeure event. In all cases, courts in both systems will be influenced by, and consider, the express terms of the contract before making a decision.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Some force majeure risks are commercially insurable events. Others are uninsurable events. Commercially insurable events include fires, floods or storms and in these scenarios their risk may be mitigated by obtaining the necessary insurance policies. In contrast, riots and political disruptions are usually uninsurable. Hence, the parties should take into account insurance cover and allocate contractual risks accordingly, particularly as the inclusion of an indemnity in the deal contract can sometimes nullify insurance arrangements.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">d. Currency Fluctuations</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Currency fluctuations are common risks encountered with international transactions. Even with the most careful monitoring, fluctuations can be unpredictable and can greatly affect the economics of a project, the business and its profits. To mitigate this risk, it is ideal to contract with all parties in the transaction chain in the same currency, if possible. Another way to mitigate any exchange risk, is to hedge the currency risk. This method may incur hedging costs and also sacrifice gains from favourable fluctuations – but, if the tables are turned, it also mitigates any significant losses.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">e. Sovereign Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Sovereign risk is an inherit risk that is more heightened in some countries. One way to mitigate sovereign risk is by structuring investments in such a way that investment protection treaties with the host country can be triggered. An example of such is the use of acquisition vehicles to which investment protection treaties apply.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">f. Market Demand Risks</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">A product or service which proves successful in one country may not be successful in another. Many businesses have had to adapt their products or services significantly in order to conform to the cultural, religious traditions or realities of a new market. For example, online sales platforms work only if a large percentage of the target market holds credit cards. A thorough market study must be conducted before introducing a new product or service fresh to a jurisdiction to validate the introduction, assumptions or projections made by the party introducing it.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Conclusion</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The deal \"risk list\" above is by no means exhaustive. But it highlights the fact that risk allocations between the parties in any cross-border deal should be clearly documented and the main risks addressed. Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>Al Tamimi &amp; Company’s Corporate Commercial team regularly advises on commercial matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/alex-saleh/\">Alex Saleh</a> (<a href=\"mailto:alex.saleh@tamimi.com\">alex.saleh@tamimi.com</a>) or <a href=\"https://www.tamimi.com/lawyer/rana-el-nahal/\">Rana Elnahal</a> (<a href=\"mailto:r.elnahal@tamimi.com\">r.elnahal@tamimi.com</a>).</em></p>'),
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(304872, 29128, 'MetaValueNew', '<p dir=\"LTR\" align=\"LEFT\">Most business transactions involve degrees of risk, which can never be eliminated entirely. An additional layer of risk inevitably accompanies any cross-border deal, and this article addresses the best way to manage these particular risks.</p>\r\n&nbsp;\r\n\r\n<img class=\"wp-image-8240 alignleft\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_09_Image_0001.jpg\" alt=\"\" width=\"444\" height=\"343\" />\r\n<h3 dir=\"LTR\" align=\"LEFT\">Cross-Border Deals and Legal Risks</h3>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">a. Choice of Law and Forum:</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">In cross-border deals, choice of law and forum clauses deserve enhanced scrutiny and negotiation. If any dispute flares up, you will find that these choices will have already been locked in. Suddenly, they will loom large, and poor choices may cost you considerable money and time. Choice of law is quite distinct from the choice of forum. The choice of law is the set of laws which governs the substance of the contract, whilst forum is concerned with the dispute resolution body and the processes for final resolution.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(i) Choice of Law:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">The main factor in deciding which governing law should govern a contract is ease of enforcement of those contractual terms allocating risks between the parties. Some jurisdictions have less developed substantive legal rules and their laws do not fit comfortably with sophisticated transaction structures commonly seen in major financial centres. In such instances, local law may either override or fail to support the agreed contract terms, rendering the outcome of any dispute unpredictable.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Ideally, parties to a contract should choose a jurisdiction with a well-developed body of legal rules. Many international players prefer common law systems, mainly because they are accustomed to working within these legal systems. Moreover, common law systems carry with them a wealth of recognised precedents which can render dispute outcomes more predictable.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(ii) Choice of Forum:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">Selecting a forum involves two different choices. Firstly, whether the parties wish to submit to arbitration or a court process. Secondly, a choice as to the legal environment in which the dispute process will be conducted, a choice which needs to take into account supervision of the arbitration and/or access to an appellate court system.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Resolution by official courts can save the parties substantial costs associated with arbitration. Any arbitration has to be funded privately, including the fees of the arbitrators. Also, it is usually quicker and easier for courts to secure interim remedies and to compel disclosure of documents or information; in arbitrations, it is often necessary to go to court to secure these remedies anyway. Courts also allow for appeal processes from their judgements, a safeguard against capricious findings or error. Arbitration, on the other hand, gives the parties an opportunity to ensure that a dispute is determined by a technical expert, rather than a legally trained judge. The expert can act as the arbitrator and resolve the dispute without the successful party being exposed to drawn-out appeals. Nevertheless, the possibility of the arbitrator requiring correction or supervision will also be relevant to any choice of forum. In some jurisdictions, arbitrations move faster than court processes, in others they move more slowly.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">When choosing the legal environment for the forum, a neutral jurisdiction has advantages, and usually gives confidence to foreign-based counterparties, particularly in cases where one of the transaction parties is a governmental entity or has strong ties to the government. Meanwhile, selecting the jurisdiction which hosts the deal assets also has its advantages, as the dispute resolution forum will have power to make orders affecting those assets and may be convenient and accessible for involved experts or witnesses. Decisions of a court where the deal assets are located are usually more readily enforceable against those assets.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">A key point to consider in advance is whether a court of the jurisdiction hosting the deal assets will recognize and respect the parties’ contractual choice of forum. For example, courts in GCC countries sometimes consider it appropriate to assume jurisdiction over a case filed before them which involves local assets (particularly land); and to apply local law regardless.</p>\r\n&nbsp;\r\n<h2 dir=\"LTR\" align=\"LEFT\">\"Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.\"</h2>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">b. Enforcement of Securities</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Lenders must carefully study and assess the enforceability of their security in the event of default. In some jurisdictions which impose fees or taxes, taking security over the deal assets, especially real property, may be costly. In these cases, a more practical security may take the form of a preferential claim to cash balances and revenues of the target/assets.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">c. Force Majeure Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Force majeure is a legal term of art describing the occurrence of an unexpected event outside the control of the affected party, as a result of which it becomes difficult or impossible for that party to perform obligations under a contract. Examples of force majeure include wars, riots, fires, floods and hurricanes. Such events also affect domestic deals, but force majeure events are less predictable for foreign counterparties in any cross-border deal.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Common law jurisdictions usually refuse to grant relief for force majeure events unless this is expressly provided for in the contract. In contrast, civil law jurisdictions usually grant the court the authority to alter the contract to restore its balance where there is a force majeure event. In all cases, courts in both systems will be influenced by, and consider, the express terms of the contract before making a decision.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Some force majeure risks are commercially insurable events. Others are uninsurable events. Commercially insurable events include fires, floods or storms and in these scenarios their risk may be mitigated by obtaining the necessary insurance policies. In contrast, riots and political disruptions are usually uninsurable. Hence, the parties should take into account insurance cover and allocate contractual risks accordingly, particularly as the inclusion of an indemnity in the deal contract can sometimes nullify insurance arrangements.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">d. Currency Fluctuations</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Currency fluctuations are common risks encountered with international transactions. Even with the most careful monitoring, fluctuations can be unpredictable and can greatly affect the economics of a project, the business and its profits. To mitigate this risk, it is ideal to contract with all parties in the transaction chain in the same currency, if possible. Another way to mitigate any exchange risk, is to hedge the currency risk. This method may incur hedging costs and also sacrifice gains from favourable fluctuations – but, if the tables are turned, it also mitigates any significant losses.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">e. Sovereign Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Sovereign risk is an inherit risk that is more heightened in some countries. One way to mitigate sovereign risk is by structuring investments in such a way that investment protection treaties with the host country can be triggered. An example of such is the use of acquisition vehicles to which investment protection treaties apply.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">f. Market Demand Risks</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">A product or service which proves successful in one country may not be successful in another. Many businesses have had to adapt their products or services significantly in order to conform to the cultural, religious traditions or realities of a new market. For example, online sales platforms work only if a large percentage of the target market holds credit cards. A thorough market study must be conducted before introducing a new product or service fresh to a jurisdiction to validate the introduction, assumptions or projections made by the party introducing it.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Conclusion</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The deal \"risk list\" above is by no means exhaustive. But it highlights the fact that risk allocations between the parties in any cross-border deal should be clearly documented and the main risks addressed. Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>Al Tamimi &amp; Company’s Corporate Commercial team regularly advises on commercial matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/alex-saleh/\">Alex Saleh</a> (<a href=\"mailto:alex.saleh@tamimi.com\">alex.saleh@tamimi.com</a>) or <a href=\"https://www.tamimi.com/lawyer/rana-el-nahal/\">Rana Elnahal</a> (<a href=\"mailto:r.elnahal@tamimi.com\">r.elnahal@tamimi.com</a>).</em></p>'),
(304873, 29128, 'MetaValueOld', '<p dir=\"LTR\" align=\"LEFT\">Most business transactions involve degrees of risk, which can never be eliminated entirely. An additional layer of risk inevitably accompanies any cross-border deal, and this article addresses the best way to manage these particular risks.</p>\r\n&nbsp;\r\n\r\n<img class=\"wp-image-8240 alignleft\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_09_Image_0001.jpg\" alt=\"\" width=\"466\" height=\"360\" />\r\n<h3 dir=\"LTR\" align=\"LEFT\">Cross-Border Deals and Legal Risks</h3>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">a. Choice of Law and Forum:</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">In cross-border deals, choice of law and forum clauses deserve enhanced scrutiny and negotiation. If any dispute flares up, you will find that these choices will have already been locked in. Suddenly, they will loom large, and poor choices may cost you considerable money and time. Choice of law is quite distinct from the choice of forum. The choice of law is the set of laws which governs the substance of the contract, whilst forum is concerned with the dispute resolution body and the processes for final resolution.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(i) Choice of Law:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">The main factor in deciding which governing law should govern a contract is ease of enforcement of those contractual terms allocating risks between the parties. Some jurisdictions have less developed substantive legal rules and their laws do not fit comfortably with sophisticated transaction structures commonly seen in major financial centres. In such instances, local law may either override or fail to support the agreed contract terms, rendering the outcome of any dispute unpredictable.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Ideally, parties to a contract should choose a jurisdiction with a well-developed body of legal rules. Many international players prefer common law systems, mainly because they are accustomed to working within these legal systems. Moreover, common law systems carry with them a wealth of recognised precedents which can render dispute outcomes more predictable.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(ii) Choice of Forum:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">Selecting a forum involves two different choices. Firstly, whether the parties wish to submit to arbitration or a court process. Secondly, a choice as to the legal environment in which the dispute process will be conducted, a choice which needs to take into account supervision of the arbitration and/or access to an appellate court system.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Resolution by official courts can save the parties substantial costs associated with arbitration. Any arbitration has to be funded privately, including the fees of the arbitrators. Also, it is usually quicker and easier for courts to secure interim remedies and to compel disclosure of documents or information; in arbitrations, it is often necessary to go to court to secure these remedies anyway. Courts also allow for appeal processes from their judgements, a safeguard against capricious findings or error. Arbitration, on the other hand, gives the parties an opportunity to ensure that a dispute is determined by a technical expert, rather than a legally trained judge. The expert can act as the arbitrator and resolve the dispute without the successful party being exposed to drawn-out appeals. Nevertheless, the possibility of the arbitrator requiring correction or supervision will also be relevant to any choice of forum. In some jurisdictions, arbitrations move faster than court processes, in others they move more slowly.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">When choosing the legal environment for the forum, a neutral jurisdiction has advantages, and usually gives confidence to foreign-based counterparties, particularly in cases where one of the transaction parties is a governmental entity or has strong ties to the government. Meanwhile, selecting the jurisdiction which hosts the deal assets also has its advantages, as the dispute resolution forum will have power to make orders affecting those assets and may be convenient and accessible for involved experts or witnesses. Decisions of a court where the deal assets are located are usually more readily enforceable against those assets.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">A key point to consider in advance is whether a court of the jurisdiction hosting the deal assets will recognize and respect the parties’ contractual choice of forum. For example, courts in GCC countries sometimes consider it appropriate to assume jurisdiction over a case filed before them which involves local assets (particularly land); and to apply local law regardless.</p>\r\n&nbsp;\r\n<h2 dir=\"LTR\" align=\"LEFT\">\"Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.\"</h2>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">b. Enforcement of Securities</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Lenders must carefully study and assess the enforceability of their security in the event of default. In some jurisdictions which impose fees or taxes, taking security over the deal assets, especially real property, may be costly. In these cases, a more practical security may take the form of a preferential claim to cash balances and revenues of the target/assets.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">c. Force Majeure Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Force majeure is a legal term of art describing the occurrence of an unexpected event outside the control of the affected party, as a result of which it becomes difficult or impossible for that party to perform obligations under a contract. Examples of force majeure include wars, riots, fires, floods and hurricanes. Such events also affect domestic deals, but force majeure events are less predictable for foreign counterparties in any cross-border deal.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Common law jurisdictions usually refuse to grant relief for force majeure events unless this is expressly provided for in the contract. In contrast, civil law jurisdictions usually grant the court the authority to alter the contract to restore its balance where there is a force majeure event. In all cases, courts in both systems will be influenced by, and consider, the express terms of the contract before making a decision.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Some force majeure risks are commercially insurable events. Others are uninsurable events. Commercially insurable events include fires, floods or storms and in these scenarios their risk may be mitigated by obtaining the necessary insurance policies. In contrast, riots and political disruptions are usually uninsurable. Hence, the parties should take into account insurance cover and allocate contractual risks accordingly, particularly as the inclusion of an indemnity in the deal contract can sometimes nullify insurance arrangements.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">d. Currency Fluctuations</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Currency fluctuations are common risks encountered with international transactions. Even with the most careful monitoring, fluctuations can be unpredictable and can greatly affect the economics of a project, the business and its profits. To mitigate this risk, it is ideal to contract with all parties in the transaction chain in the same currency, if possible. Another way to mitigate any exchange risk, is to hedge the currency risk. This method may incur hedging costs and also sacrifice gains from favourable fluctuations – but, if the tables are turned, it also mitigates any significant losses.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">e. Sovereign Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Sovereign risk is an inherit risk that is more heightened in some countries. One way to mitigate sovereign risk is by structuring investments in such a way that investment protection treaties with the host country can be triggered. An example of such is the use of acquisition vehicles to which investment protection treaties apply.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">f. Market Demand Risks</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">A product or service which proves successful in one country may not be successful in another. Many businesses have had to adapt their products or services significantly in order to conform to the cultural, religious traditions or realities of a new market. For example, online sales platforms work only if a large percentage of the target market holds credit cards. A thorough market study must be conducted before introducing a new product or service fresh to a jurisdiction to validate the introduction, assumptions or projections made by the party introducing it.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Conclusion</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The deal \"risk list\" above is by no means exhaustive. But it highlights the fact that risk allocations between the parties in any cross-border deal should be clearly documented and the main risks addressed. Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>Al Tamimi &amp; Company’s Corporate Commercial team regularly advises on commercial matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/alex-saleh/\">Alex Saleh</a> (<a href=\"mailto:alex.saleh@tamimi.com\">alex.saleh@tamimi.com</a>) or <a href=\"https://www.tamimi.com/lawyer/rana-el-nahal/\">Rana Elnahal</a> (<a href=\"mailto:r.elnahal@tamimi.com\">r.elnahal@tamimi.com</a>).</em></p>'),
(304874, 29128, 'MetaLink', 'content'),
(304875, 29128, 'EditorLinkPost', 'https://www.tamimi.com/wp-admin/post.php?post=8187&amp;action=edit'),
(304876, 29128, 'ReportText', '<p dir=\"LTR\" align=\"LEFT\">Most business transactions involve degrees of risk, which can never be eliminated entirely. An additional layer of risk inevitably accompanies any cross-border deal, and this article addresses the best way to manage these particular risks.</p>\r\n&nbsp;\r\n\r\n<img class=\"wp-image-8240 alignleft\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_09_Image_0001.jpg\" alt=\"\" width=\"466\" height=\"360\" />\r\n<h3 dir=\"LTR\" align=\"LEFT\">Cross-Border Deals and Legal Risks</h3>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">a. Choice of Law and Forum:</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">In cross-border deals, choice of law and forum clauses deserve enhanced scrutiny and negotiation. If any dispute flares up, you will find that these choices will have already been locked in. Suddenly, they will loom large, and poor choices may cost you considerable money and time. Choice of law is quite distinct from the choice of forum. The choice of law is the set of laws which governs the substance of the contract, whilst forum is concerned with the dispute resolution body and the processes for final resolution.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(i) Choice of Law:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">The main factor in deciding which governing law should govern a contract is ease of enforcement of those contractual terms allocating risks between the parties. Some jurisdictions have less developed substantive legal rules and their laws do not fit comfortably with sophisticated transaction structures commonly seen in major financial centres. In such instances, local law may either override or fail to support the agreed contract terms, rendering the outcome of any dispute unpredictable.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Ideally, parties to a contract should choose a jurisdiction with a well-developed body of legal rules. Many international players prefer common law systems, mainly because they are accustomed to working within these legal systems. Moreover, common law systems carry with them a wealth of recognised precedents which can render dispute outcomes more predictable.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(ii) Choice of Forum:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">Selecting a forum involves two different choices. Firstly, whether the parties wish to submit to arbitration or a court process. Secondly, a choice as to the legal environment in which the dispute process will be conducted, a choice which needs to take into account supervision of the arbitration and/or access to an appellate court system.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Resolution by official courts can save the parties substantial costs associated with arbitration. Any arbitration has to be funded privately, including the fees of the arbitrators. Also, it is usually quicker and easier for courts to secure interim remedies and to compel disclosure of documents or information; in arbitrations, it is often necessary to go to court to secure these remedies anyway. Courts also allow for appeal processes from their judgements, a safeguard against capricious findings or error. Arbitration, on the other hand, gives the parties an opportunity to ensure that a dispute is determined by a technical expert, rather than a legally trained judge. The expert can act as the arbitrator and resolve the dispute without the successful party being exposed to drawn-out appeals. Nevertheless, the possibility of the arbitrator requiring correction or supervision will also be relevant to any choice of forum. In some jurisdictions, arbitrations move faster than court processes, in others they move more slowly.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">When choosing the legal environment for the forum, a neutral jurisdiction has advantages, and usually gives confidence to foreign-based counterparties, particularly in cases where one of the transaction parties is a governmental entity or has strong ties to the government. Meanwhile, selecting the jurisdiction which hosts the deal assets also has its advantages, as the dispute resolution forum will have power to make orders affecting those assets and may be convenient and accessible for involved experts or witnesses. Decisions of a court where the deal assets are located are usually more readily enforceable against those assets.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">A key point to consider in advance is whether a court of the jurisdiction hosting the deal assets will recognize and respect the parties’ contractual choice of forum. For example, courts in GCC countries sometimes consider it appropriate to assume jurisdiction over a case filed before them which involves local assets (particularly land); and to apply local law regardless.</p>\r\n&nbsp;\r\n<h2 dir=\"LTR\" align=\"LEFT\">\"Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.\"</h2>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">b. Enforcement of Securities</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Lenders must carefully study and assess the enforceability of their security in the event of default. In some jurisdictions which impose fees or taxes, taking security over the deal assets, especially real property, may be costly. In these cases, a more practical security may take the form of a preferential claim to cash balances and revenues of the target/assets.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">c. Force Majeure Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Force majeure is a legal term of art describing the occurrence of an unexpected event outside the control of the affected party, as a result of which it becomes difficult or impossible for that party to perform obligations under a contract. Examples of force majeure include wars, riots, fires, floods and hurricanes. Such events also affect domestic deals, but force majeure events are less predictable for foreign counterparties in any cross-border deal.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Common law jurisdictions usually refuse to grant relief for force majeure events unless this is expressly provided for in the contract. In contrast, civil law jurisdictions usually grant the court the authority to alter the contract to restore its balance where there is a force majeure event. In all cases, courts in both systems will be influenced by, and consider, the express terms of the contract before making a decision.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Some force majeure risks are commercially insurable events. Others are uninsurable events. Commercially insurable events include fires, floods or storms and in these scenarios their risk may be mitigated by obtaining the necessary insurance policies. In contrast, riots and political disruptions are usually uninsurable. Hence, the parties should take into account insurance cover and allocate contractual risks accordingly, particularly as the inclusion of an indemnity in the deal contract can sometimes nullify insurance arrangements.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">d. Currency Fluctuations</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Currency fluctuations are common risks encountered with international transactions. Even with the most careful monitoring, fluctuations can be unpredictable and can greatly affect the economics of a project, the business and its profits. To mitigate this risk, it is ideal to contract with all parties in the transaction chain in the same currency, if possible. Another way to mitigate any exchange risk, is to hedge the currency risk. This method may incur hedging costs and also sacrifice gains from favourable fluctuations – but, if the tables are turned, it also mitigates any significant losses.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">e. Sovereign Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Sovereign risk is an inherit risk that is more heightened in some countries. One way to mitigate sovereign risk is by structuring investments in such a way that investment protection treaties with the host country can be triggered. An example of such is the use of acquisition vehicles to which investment protection treaties apply.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">f. Market Demand Risks</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">A product or service which proves successful in one country may not be successful in another. Many businesses have had to adapt their products or services significantly in order to conform to the cultural, religious traditions or realities of a new market. For example, online sales platforms work only if a large percentage of the target market holds credit cards. A thorough market study must be conducted before introducing a new product or service fresh to a jurisdiction to validate the introduction, assumptions or projections made by the party introducing it.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Conclusion</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The deal \"risk list\" above is by no means exhaustive. But it highlights the fact that risk allocations between the parties in any cross-border deal should be clearly documented and the main risks addressed. Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>Al Tamimi &amp; Company’s Corporate Commercial team regularly advises on commercial matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/alex-saleh/\">Alex Saleh</a> (<a href=\"mailto:alex.saleh@tamimi.com\">alex.saleh@tamimi.com</a>) or <a href=\"https://www.tamimi.com/lawyer/rana-el-nahal/\">Rana Elnahal</a> (<a href=\"mailto:r.elnahal@tamimi.com\">r.elnahal@tamimi.com</a>).</em></p>|<p dir=\"LTR\" align=\"LEFT\">Most business transactions involve degrees of risk, which can never be eliminated entirely. An additional layer of risk inevitably accompanies any cross-border deal, and this article addresses the best way to manage these particular risks.</p>\r\n&nbsp;\r\n\r\n<img class=\"wp-image-8240 alignleft\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_09_Image_0001.jpg\" alt=\"\" width=\"444\" height=\"343\" />\r\n<h3 dir=\"LTR\" align=\"LEFT\">Cross-Border Deals and Legal Risks</h3>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">a. Choice of Law and Forum:</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">In cross-border deals, choice of law and forum clauses deserve enhanced scrutiny and negotiation. If any dispute flares up, you will find that these choices will have already been locked in. Suddenly, they will loom large, and poor choices may cost you considerable money and time. Choice of law is quite distinct from the choice of forum. The choice of law is the set of laws which governs the substance of the contract, whilst forum is concerned with the dispute resolution body and the processes for final resolution.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(i) Choice of Law:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">The main factor in deciding which governing law should govern a contract is ease of enforcement of those contractual terms allocating risks between the parties. Some jurisdictions have less developed substantive legal rules and their laws do not fit comfortably with sophisticated transaction structures commonly seen in major financial centres. In such instances, local law may either override or fail to support the agreed contract terms, rendering the outcome of any dispute unpredictable.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Ideally, parties to a contract should choose a jurisdiction with a well-developed body of legal rules. Many international players prefer common law systems, mainly because they are accustomed to working within these legal systems. Moreover, common law systems carry with them a wealth of recognised precedents which can render dispute outcomes more predictable.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>(ii) Choice of Forum:</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">Selecting a forum involves two different choices. Firstly, whether the parties wish to submit to arbitration or a court process. Secondly, a choice as to the legal environment in which the dispute process will be conducted, a choice which needs to take into account supervision of the arbitration and/or access to an appellate court system.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Resolution by official courts can save the parties substantial costs associated with arbitration. Any arbitration has to be funded privately, including the fees of the arbitrators. Also, it is usually quicker and easier for courts to secure interim remedies and to compel disclosure of documents or information; in arbitrations, it is often necessary to go to court to secure these remedies anyway. Courts also allow for appeal processes from their judgements, a safeguard against capricious findings or error. Arbitration, on the other hand, gives the parties an opportunity to ensure that a dispute is determined by a technical expert, rather than a legally trained judge. The expert can act as the arbitrator and resolve the dispute without the successful party being exposed to drawn-out appeals. Nevertheless, the possibility of the arbitrator requiring correction or supervision will also be relevant to any choice of forum. In some jurisdictions, arbitrations move faster than court processes, in others they move more slowly.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">When choosing the legal environment for the forum, a neutral jurisdiction has advantages, and usually gives confidence to foreign-based counterparties, particularly in cases where one of the transaction parties is a governmental entity or has strong ties to the government. Meanwhile, selecting the jurisdiction which hosts the deal assets also has its advantages, as the dispute resolution forum will have power to make orders affecting those assets and may be convenient and accessible for involved experts or witnesses. Decisions of a court where the deal assets are located are usually more readily enforceable against those assets.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">A key point to consider in advance is whether a court of the jurisdiction hosting the deal assets will recognize and respect the parties’ contractual choice of forum. For example, courts in GCC countries sometimes consider it appropriate to assume jurisdiction over a case filed before them which involves local assets (particularly land); and to apply local law regardless.</p>\r\n&nbsp;\r\n<h2 dir=\"LTR\" align=\"LEFT\">\"Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.\"</h2>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">b. Enforcement of Securities</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Lenders must carefully study and assess the enforceability of their security in the event of default. In some jurisdictions which impose fees or taxes, taking security over the deal assets, especially real property, may be costly. In these cases, a more practical security may take the form of a preferential claim to cash balances and revenues of the target/assets.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">c. Force Majeure Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Force majeure is a legal term of art describing the occurrence of an unexpected event outside the control of the affected party, as a result of which it becomes difficult or impossible for that party to perform obligations under a contract. Examples of force majeure include wars, riots, fires, floods and hurricanes. Such events also affect domestic deals, but force majeure events are less predictable for foreign counterparties in any cross-border deal.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Common law jurisdictions usually refuse to grant relief for force majeure events unless this is expressly provided for in the contract. In contrast, civil law jurisdictions usually grant the court the authority to alter the contract to restore its balance where there is a force majeure event. In all cases, courts in both systems will be influenced by, and consider, the express terms of the contract before making a decision.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Some force majeure risks are commercially insurable events. Others are uninsurable events. Commercially insurable events include fires, floods or storms and in these scenarios their risk may be mitigated by obtaining the necessary insurance policies. In contrast, riots and political disruptions are usually uninsurable. Hence, the parties should take into account insurance cover and allocate contractual risks accordingly, particularly as the inclusion of an indemnity in the deal contract can sometimes nullify insurance arrangements.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">d. Currency Fluctuations</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Currency fluctuations are common risks encountered with international transactions. Even with the most careful monitoring, fluctuations can be unpredictable and can greatly affect the economics of a project, the business and its profits. To mitigate this risk, it is ideal to contract with all parties in the transaction chain in the same currency, if possible. Another way to mitigate any exchange risk, is to hedge the currency risk. This method may incur hedging costs and also sacrifice gains from favourable fluctuations – but, if the tables are turned, it also mitigates any significant losses.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">e. Sovereign Risk</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Sovereign risk is an inherit risk that is more heightened in some countries. One way to mitigate sovereign risk is by structuring investments in such a way that investment protection treaties with the host country can be triggered. An example of such is the use of acquisition vehicles to which investment protection treaties apply.</p>\r\n&nbsp;\r\n<h4 dir=\"LTR\" align=\"LEFT\">f. Market Demand Risks</h4>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">A product or service which proves successful in one country may not be successful in another. Many businesses have had to adapt their products or services significantly in order to conform to the cultural, religious traditions or realities of a new market. For example, online sales platforms work only if a large percentage of the target market holds credit cards. A thorough market study must be conducted before introducing a new product or service fresh to a jurisdiction to validate the introduction, assumptions or projections made by the party introducing it.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Conclusion</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The deal \"risk list\" above is by no means exhaustive. But it highlights the fact that risk allocations between the parties in any cross-border deal should be clearly documented and the main risks addressed. Transactions always carry risks, but they can be managed successfully if the right care and judgment is exercised.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>Al Tamimi &amp; Company’s Corporate Commercial team regularly advises on commercial matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/alex-saleh/\">Alex Saleh</a> (<a href=\"mailto:alex.saleh@tamimi.com\">alex.saleh@tamimi.com</a>) or <a href=\"https://www.tamimi.com/lawyer/rana-el-nahal/\">Rana Elnahal</a> (<a href=\"mailto:r.elnahal@tamimi.com\">r.elnahal@tamimi.com</a>).</em></p>'),
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(304968, 29137, 'MetaValueNew', '<p dir=\"LTR\" align=\"LEFT\"><img class=\"aligncenter size-full wp-image-8241\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_10_Image_0001.jpg\" alt=\"\" width=\"1595\" height=\"352\" /></p>&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The UAE Companies Law (Fed. Law 2 of 2015) mandates that the management of a limited liability company (\"LLC\") to be undertaken by one or more managers as determined by the partners (i.e. the shareholders) in the memorandum of association. Such managers can be selected from either the partners or from third parties. We receive plenty of questions from UAE LLCs asking us about the powers of their managers. This article explores the most common questions we receive in respect of the methods of appointing managers, their powers and authorities, the instruments needed to effect the aforementioned and the method of revoking said instruments.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Without a delegation instrument which grants powers to managers to manage the businesses and sign on behalf of LLCs, managers may not be able to perform their roles. Third parties, including courts, regulators and other contracting parties regularly query whether managers have the requisite authority to sign applicable documents or make decisions on behalf of the company.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Appointing Managers of LLCs</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The most common method to appoint LLC managers and define their authorities is to embed provisions in the company’s memorandum of association (\"MOA\").</p>\r\n<p dir=\"LTR\" align=\"LEFT\">If the MOA does not list the managers of the LLC, the partners should appoint managers under a general assembly resolution or another delegation instrument of the partners.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Powers of LLC Managers</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Managers of LLC shall hold a duly notarized document evidencing their powers and authorities. This document may be the MOA itself, a partner/general assembly resolution and/or a power of attorney (\"POA\"). Generally, an LLC manager is authorised to assume full powers of the company’s management and their actions bind the company, unless their powers are restricted by an appointment contract, the MOA or the LLC’s bylaws.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">The Dubai Court of Cassation in its judgment in its Case 164 of 2008 confirmed that unless explicitly prohibited in the MOA \"<em>The manager of an LLC is the person having full authority of the management of the company, and he/she has competence to make dispositions over the rights relating to its activities, including an agreement to arbitrate</em>\". Also, Article (4)(e) of Ministerial Resolution No. (272) of 2016 concerning the Application of Some Provisions of Public Joint Stock Companies to Limited Liability Companies (\"Resolution\") provides that the powers and authorities of manager(s) shall be determined by the MOA or by a general assembly meeting resolution.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">POAs as a Delegation Instrument</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Delegation instruments are instruments used to delegate powers and authorities from one party to another. They come in different forms such as POAs (a notarized delegation instrument), proxies and delegation letters.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">The principal (party issuing the POA) must have the power it wishes to grant to the attorney. A POA in the UAE must specify the powers given to the attorney to have legal effect. There is also no specific form required for the validity of a POA. It should, however, be notarized and certified by the relevant authorities and should contain the following information:</p>\r\n\r\n<ul>\r\n 	<li dir=\"LTR\">the details of the principal;</li>\r\n 	<li dir=\"LTR\">the details of the attorney;</li>\r\n 	<li dir=\"LTR\">the powers being delegated;</li>\r\n 	<li dir=\"LTR\">date of issuance;</li>\r\n 	<li dir=\"LTR\">capacity of the principal (for example: \"in my capacity as manager of X company\");</li>\r\n 	<li dir=\"LTR\">duration of POA, if any;</li>\r\n 	<li dir=\"LTR\">any other requirements made by the notary public.</li>\r\n</ul>\r\n<p dir=\"LTR\" align=\"LEFT\">It is also worth noting that in the UAE, POAs are not capable of being irrevocable i.e. the principal can cancel the attorney’s authority at any time.</p>\r\n&nbsp;\r\n<h2 dir=\"LTR\" align=\"LEFT\">\"Managers of limited liability companies shall hold a duly notarized document which evidences their powers and authorities.\"</h2>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Cancellation of Power of Attorney, Delegations and General Assembly Resolutions</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>Powers of Attorney</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">Among other less common situations, there are situations that arise in which the POA granted to an attorney is mutually or automatically terminated and others in which the principal dismisses the attorney and wishes to revoke the POA.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>i. The termination of the POA</em></p>\r\n<p dir=\"LTR\" style=\"padding-left: 30px;\" align=\"LEFT\">Article 954 of the Civil Code provides the circumstances in which a POA may be terminated, as follows:</p>\r\n\r\n<ul>\r\n 	<li dir=\"LTR\">upon the completion of the work which was delegated;</li>\r\n 	<li dir=\"LTR\">upon the expiration of the term of the POA;</li>\r\n 	<li dir=\"LTR\">upon the death of the principal or his/her ceasing to have legal capacity; or</li>\r\n 	<li dir=\"LTR\">upon the death of the attorney or his/her ceasing to be of legal capacity.</li>\r\n</ul>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>ii. Dismissal of the Manager and revocation of POA</em></p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Generally, a principal may dismiss or restrict the powers of an attorney at its discretion, unless (i) third party rights have arisen by virtue of the POA; or (ii) if the POA was granted for the benefit of the attorney, in which case the principal may not terminate or restrict the POA without the consent of the person for whose benefit it was created. If the POA is issued in favor of the attorney, i.e,. it provides the attorney with some beneficial rights, the principal may not terminate or limit the POA without the consent of the attorney. The principal may be liable for any harm caused to the attorney as a result of termination/revocation of the POA at an inappropriate time without an acceptable reason. In practice, for the principal to dismiss an attorney (i.e. revoke the POA), the principal must sign and notarize a revocation instrument before the notary public. The revocation is then reflected in the notary public’s system and notified to the attorney by the principal by way of registered mail. The attorney must cease acting on behalf of the principal upon receipt of said notification. Even though not required by law, as a precautionary measure, principals should publish the revocation of the POA in the newspaper.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>Delegations</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">Written delegations which have not been notarized may be revoked simply by written notification to the delegate.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Additional steps should be taken to revoke delegations granted to attend general assembly/board meetings, such as notifying the company concerned.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>General Assembly Resolutions</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">General Assembly resolutions cannot be revoked or cancelled.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">They may, however, be superseded by general assembly resolution, which rectifies, alters, replaces, revokes, cancels or amends the previous partners’ resolution.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">As there is no legal requirement to notarize general assembly resolutions, a notarized partners’ resolution may only be replaced/revoked by way of a notarized partners’ resolution.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Conclusion</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">As previously mentioned, managers of LLCs perform their roles through a delegation instrument which grants powers to them to manage the businesses and sign on behalf of LLCs. The most common delegation instrument is the MOA. In circumstances where the MOA does not provide such delegation, a general assembly resolution or a POA is resorted to. Determining the method of delegating powers to managers of LLCs will be dependent on the circumstances applicable to each particular case.</p>\r\n&nbsp;\r\n\r\n<em>Al Tamimi &amp; Company’s corporate commercial team regularly advises on ECM, M&amp;As, and corporate commercial matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/sarah-tomy/\">Sarah Mohamed Tomy</a> (<a href=\"mailto:s.tomy@tamimi.com\">s.tomy@tamimi.com</a>) or <a href=\"https://www.tamimi.com/lawyer/mohamed-khodeir/\">Mohamed Khodeir</a> (<a href=\"mailto:m.khodeir@tamimi.com\">m.khodeir@tamimi.com</a>).</em>'),
(304969, 29137, 'MetaValueOld', '<p dir=\"LTR\" align=\"LEFT\">The UAE Companies Law (Fed. Law 2 of 2015) mandates that the management of a limited liability company (\"LLC\") to be undertaken by one or more managers as determined by the partners (i.e. the shareholders) in the memorandum of association. Such managers can be selected from either the partners or from third parties. We receive plenty of questions from UAE LLCs asking us about the powers of their managers. This article explores the most common questions we receive in respect of the methods of appointing managers, their powers and authorities, the instruments needed to effect the aforementioned and the method of revoking said instruments.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Without a delegation instrument which grants powers to managers to manage the businesses and sign on behalf of LLCs, managers may not be able to perform their roles. Third parties, including courts, regulators and other contracting parties regularly query whether managers have the requisite authority to sign applicable documents or make decisions on behalf of the company.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Appointing Managers of LLCs</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The most common method to appoint LLC managers and define their authorities is to embed provisions in the company’s memorandum of association (\"MOA\").</p>\r\n<p dir=\"LTR\" align=\"LEFT\">If the MOA does not list the managers of the LLC, the partners should appoint managers under a general assembly resolution or another delegation instrument of the partners.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Powers of LLC Managers</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Managers of LLC shall hold a duly notarized document evidencing their powers and authorities. This document may be the MOA itself, a partner/general assembly resolution and/or a power of attorney (\"POA\"). Generally, an LLC manager is authorised to assume full powers of the company’s management and their actions bind the company, unless their powers are restricted by an appointment contract, the MOA or the LLC’s bylaws.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">The Dubai Court of Cassation in its judgment in its Case 164 of 2008 confirmed that unless explicitly prohibited in the MOA \"<em>The manager of an LLC is the person having full authority of the management of the company, and he/she has competence to make dispositions over the rights relating to its activities, including an agreement to arbitrate</em>\". Also, Article (4)(e) of Ministerial Resolution No. (272) of 2016 concerning the Application of Some Provisions of Public Joint Stock Companies to Limited Liability Companies (\"Resolution\") provides that the powers and authorities of manager(s) shall be determined by the MOA or by a general assembly meeting resolution.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">POAs as a Delegation Instrument</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Delegation instruments are instruments used to delegate powers and authorities from one party to another. They come in different forms such as POAs (a notarized delegation instrument), proxies and delegation letters.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">The principal (party issuing the POA) must have the power it wishes to grant to the attorney. A POA in the UAE must specify the powers given to the attorney to have legal effect. There is also no specific form required for the validity of a POA. It should, however, be notarized and certified by the relevant authorities and should contain the following information:</p>\r\n\r\n<ul>\r\n 	<li dir=\"LTR\">the details of the principal;</li>\r\n 	<li dir=\"LTR\">the details of the attorney;</li>\r\n 	<li dir=\"LTR\">the powers being delegated;</li>\r\n 	<li dir=\"LTR\">date of issuance;</li>\r\n 	<li dir=\"LTR\">capacity of the principal (for example: \"in my capacity as manager of X company\");</li>\r\n 	<li dir=\"LTR\">duration of POA, if any;</li>\r\n 	<li dir=\"LTR\">any other requirements made by the notary public.</li>\r\n</ul>\r\n<p dir=\"LTR\" align=\"LEFT\">It is also worth noting that in the UAE, POAs are not capable of being irrevocable i.e. the principal can cancel the attorney’s authority at any time.</p>\r\n&nbsp;\r\n<h2 dir=\"LTR\" align=\"LEFT\">\"Managers of limited liability companies shall hold a duly notarized document which evidences their powers and authorities.\"</h2>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Cancellation of Power of Attorney, Delegations and General Assembly Resolutions</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>Powers of Attorney</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">Among other less common situations, there are situations that arise in which the POA granted to an attorney is mutually or automatically terminated and others in which the principal dismisses the attorney and wishes to revoke the POA.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>i. The termination of the POA</em></p>\r\n<p dir=\"LTR\" style=\"padding-left: 30px;\" align=\"LEFT\">Article 954 of the Civil Code provides the circumstances in which a POA may be terminated, as follows:</p>\r\n\r\n<ul>\r\n 	<li dir=\"LTR\">upon the completion of the work which was delegated;</li>\r\n 	<li dir=\"LTR\">upon the expiration of the term of the POA;</li>\r\n 	<li dir=\"LTR\">upon the death of the principal or his/her ceasing to have legal capacity; or</li>\r\n 	<li dir=\"LTR\">upon the death of the attorney or his/her ceasing to be of legal capacity.</li>\r\n</ul>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>ii. Dismissal of the Manager and revocation of POA</em></p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Generally, a principal may dismiss or restrict the powers of an attorney at its discretion, unless (i) third party rights have arisen by virtue of the POA; or (ii) if the POA was granted for the benefit of the attorney, in which case the principal may not terminate or restrict the POA without the consent of the person for whose benefit it was created. If the POA is issued in favor of the attorney, i.e,. it provides the attorney with some beneficial rights, the principal may not terminate or limit the POA without the consent of the attorney. The principal may be liable for any harm caused to the attorney as a result of termination/revocation of the POA at an inappropriate time without an acceptable reason. In practice, for the principal to dismiss an attorney (i.e. revoke the POA), the principal must sign and notarize a revocation instrument before the notary public. The revocation is then reflected in the notary public’s system and notified to the attorney by the principal by way of registered mail. The attorney must cease acting on behalf of the principal upon receipt of said notification. Even though not required by law, as a precautionary measure, principals should publish the revocation of the POA in the newspaper.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>Delegations</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">Written delegations which have not been notarized may be revoked simply by written notification to the delegate.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Additional steps should be taken to revoke delegations granted to attend general assembly/board meetings, such as notifying the company concerned.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>General Assembly Resolutions</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">General Assembly resolutions cannot be revoked or cancelled.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">They may, however, be superseded by general assembly resolution, which rectifies, alters, replaces, revokes, cancels or amends the previous partners’ resolution.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">As there is no legal requirement to notarize general assembly resolutions, a notarized partners’ resolution may only be replaced/revoked by way of a notarized partners’ resolution.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Conclusion</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">As previously mentioned, managers of LLCs perform their roles through a delegation instrument which grants powers to them to manage the businesses and sign on behalf of LLCs. The most common delegation instrument is the MOA. In circumstances where the MOA does not provide such delegation, a general assembly resolution or a POA is resorted to. Determining the method of delegating powers to managers of LLCs will be dependent on the circumstances applicable to each particular case.</p>\r\n&nbsp;\r\n\r\n<em>Al Tamimi &amp; Company’s corporate commercial team regularly advises on ECM, M&amp;As, and corporate commercial matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/sarah-tomy/\">Sarah Mohamed Tomy</a> (<a href=\"mailto:s.tomy@tamimi.com\">s.tomy@tamimi.com</a>) or <a href=\"https://www.tamimi.com/lawyer/mohamed-khodeir/\">Mohamed Khodeir</a> (<a href=\"mailto:m.khodeir@tamimi.com\">m.khodeir@tamimi.com</a>).</em>'),
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(304972, 29137, 'ReportText', '<p dir=\"LTR\" align=\"LEFT\">The UAE Companies Law (Fed. Law 2 of 2015) mandates that the management of a limited liability company (\"LLC\") to be undertaken by one or more managers as determined by the partners (i.e. the shareholders) in the memorandum of association. Such managers can be selected from either the partners or from third parties. We receive plenty of questions from UAE LLCs asking us about the powers of their managers. This article explores the most common questions we receive in respect of the methods of appointing managers, their powers and authorities, the instruments needed to effect the aforementioned and the method of revoking said instruments.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Without a delegation instrument which grants powers to managers to manage the businesses and sign on behalf of LLCs, managers may not be able to perform their roles. Third parties, including courts, regulators and other contracting parties regularly query whether managers have the requisite authority to sign applicable documents or make decisions on behalf of the company.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Appointing Managers of LLCs</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The most common method to appoint LLC managers and define their authorities is to embed provisions in the company’s memorandum of association (\"MOA\").</p>\r\n<p dir=\"LTR\" align=\"LEFT\">If the MOA does not list the managers of the LLC, the partners should appoint managers under a general assembly resolution or another delegation instrument of the partners.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Powers of LLC Managers</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Managers of LLC shall hold a duly notarized document evidencing their powers and authorities. This document may be the MOA itself, a partner/general assembly resolution and/or a power of attorney (\"POA\"). Generally, an LLC manager is authorised to assume full powers of the company’s management and their actions bind the company, unless their powers are restricted by an appointment contract, the MOA or the LLC’s bylaws.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">The Dubai Court of Cassation in its judgment in its Case 164 of 2008 confirmed that unless explicitly prohibited in the MOA \"<em>The manager of an LLC is the person having full authority of the management of the company, and he/she has competence to make dispositions over the rights relating to its activities, including an agreement to arbitrate</em>\". Also, Article (4)(e) of Ministerial Resolution No. (272) of 2016 concerning the Application of Some Provisions of Public Joint Stock Companies to Limited Liability Companies (\"Resolution\") provides that the powers and authorities of manager(s) shall be determined by the MOA or by a general assembly meeting resolution.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">POAs as a Delegation Instrument</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Delegation instruments are instruments used to delegate powers and authorities from one party to another. They come in different forms such as POAs (a notarized delegation instrument), proxies and delegation letters.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">The principal (party issuing the POA) must have the power it wishes to grant to the attorney. A POA in the UAE must specify the powers given to the attorney to have legal effect. There is also no specific form required for the validity of a POA. It should, however, be notarized and certified by the relevant authorities and should contain the following information:</p>\r\n\r\n<ul>\r\n 	<li dir=\"LTR\">the details of the principal;</li>\r\n 	<li dir=\"LTR\">the details of the attorney;</li>\r\n 	<li dir=\"LTR\">the powers being delegated;</li>\r\n 	<li dir=\"LTR\">date of issuance;</li>\r\n 	<li dir=\"LTR\">capacity of the principal (for example: \"in my capacity as manager of X company\");</li>\r\n 	<li dir=\"LTR\">duration of POA, if any;</li>\r\n 	<li dir=\"LTR\">any other requirements made by the notary public.</li>\r\n</ul>\r\n<p dir=\"LTR\" align=\"LEFT\">It is also worth noting that in the UAE, POAs are not capable of being irrevocable i.e. the principal can cancel the attorney’s authority at any time.</p>\r\n&nbsp;\r\n<h2 dir=\"LTR\" align=\"LEFT\">\"Managers of limited liability companies shall hold a duly notarized document which evidences their powers and authorities.\"</h2>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Cancellation of Power of Attorney, Delegations and General Assembly Resolutions</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>Powers of Attorney</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">Among other less common situations, there are situations that arise in which the POA granted to an attorney is mutually or automatically terminated and others in which the principal dismisses the attorney and wishes to revoke the POA.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>i. The termination of the POA</em></p>\r\n<p dir=\"LTR\" style=\"padding-left: 30px;\" align=\"LEFT\">Article 954 of the Civil Code provides the circumstances in which a POA may be terminated, as follows:</p>\r\n\r\n<ul>\r\n 	<li dir=\"LTR\">upon the completion of the work which was delegated;</li>\r\n 	<li dir=\"LTR\">upon the expiration of the term of the POA;</li>\r\n 	<li dir=\"LTR\">upon the death of the principal or his/her ceasing to have legal capacity; or</li>\r\n 	<li dir=\"LTR\">upon the death of the attorney or his/her ceasing to be of legal capacity.</li>\r\n</ul>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>ii. Dismissal of the Manager and revocation of POA</em></p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Generally, a principal may dismiss or restrict the powers of an attorney at its discretion, unless (i) third party rights have arisen by virtue of the POA; or (ii) if the POA was granted for the benefit of the attorney, in which case the principal may not terminate or restrict the POA without the consent of the person for whose benefit it was created. If the POA is issued in favor of the attorney, i.e,. it provides the attorney with some beneficial rights, the principal may not terminate or limit the POA without the consent of the attorney. The principal may be liable for any harm caused to the attorney as a result of termination/revocation of the POA at an inappropriate time without an acceptable reason. In practice, for the principal to dismiss an attorney (i.e. revoke the POA), the principal must sign and notarize a revocation instrument before the notary public. The revocation is then reflected in the notary public’s system and notified to the attorney by the principal by way of registered mail. The attorney must cease acting on behalf of the principal upon receipt of said notification. Even though not required by law, as a precautionary measure, principals should publish the revocation of the POA in the newspaper.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>Delegations</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">Written delegations which have not been notarized may be revoked simply by written notification to the delegate.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Additional steps should be taken to revoke delegations granted to attend general assembly/board meetings, such as notifying the company concerned.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>General Assembly Resolutions</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">General Assembly resolutions cannot be revoked or cancelled.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">They may, however, be superseded by general assembly resolution, which rectifies, alters, replaces, revokes, cancels or amends the previous partners’ resolution.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">As there is no legal requirement to notarize general assembly resolutions, a notarized partners’ resolution may only be replaced/revoked by way of a notarized partners’ resolution.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Conclusion</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">As previously mentioned, managers of LLCs perform their roles through a delegation instrument which grants powers to them to manage the businesses and sign on behalf of LLCs. The most common delegation instrument is the MOA. In circumstances where the MOA does not provide such delegation, a general assembly resolution or a POA is resorted to. Determining the method of delegating powers to managers of LLCs will be dependent on the circumstances applicable to each particular case.</p>\r\n&nbsp;\r\n\r\n<em>Al Tamimi &amp; Company’s corporate commercial team regularly advises on ECM, M&amp;As, and corporate commercial matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/sarah-tomy/\">Sarah Mohamed Tomy</a> (<a href=\"mailto:s.tomy@tamimi.com\">s.tomy@tamimi.com</a>) or <a href=\"https://www.tamimi.com/lawyer/mohamed-khodeir/\">Mohamed Khodeir</a> (<a href=\"mailto:m.khodeir@tamimi.com\">m.khodeir@tamimi.com</a>).</em>|<p dir=\"LTR\" align=\"LEFT\"><img class=\"aligncenter size-full wp-image-8241\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_10_Image_0001.jpg\" alt=\"\" width=\"1595\" height=\"352\" /></p>&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The UAE Companies Law (Fed. Law 2 of 2015) mandates that the management of a limited liability company (\"LLC\") to be undertaken by one or more managers as determined by the partners (i.e. the shareholders) in the memorandum of association. Such managers can be selected from either the partners or from third parties. We receive plenty of questions from UAE LLCs asking us about the powers of their managers. This article explores the most common questions we receive in respect of the methods of appointing managers, their powers and authorities, the instruments needed to effect the aforementioned and the method of revoking said instruments.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Without a delegation instrument which grants powers to managers to manage the businesses and sign on behalf of LLCs, managers may not be able to perform their roles. Third parties, including courts, regulators and other contracting parties regularly query whether managers have the requisite authority to sign applicable documents or make decisions on behalf of the company.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Appointing Managers of LLCs</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The most common method to appoint LLC managers and define their authorities is to embed provisions in the company’s memorandum of association (\"MOA\").</p>\r\n<p dir=\"LTR\" align=\"LEFT\">If the MOA does not list the managers of the LLC, the partners should appoint managers under a general assembly resolution or another delegation instrument of the partners.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Powers of LLC Managers</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Managers of LLC shall hold a duly notarized document evidencing their powers and authorities. This document may be the MOA itself, a partner/general assembly resolution and/or a power of attorney (\"POA\"). Generally, an LLC manager is authorised to assume full powers of the company’s management and their actions bind the company, unless their powers are restricted by an appointment contract, the MOA or the LLC’s bylaws.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">The Dubai Court of Cassation in its judgment in its Case 164 of 2008 confirmed that unless explicitly prohibited in the MOA \"<em>The manager of an LLC is the person having full authority of the management of the company, and he/she has competence to make dispositions over the rights relating to its activities, including an agreement to arbitrate</em>\". Also, Article (4)(e) of Ministerial Resolution No. (272) of 2016 concerning the Application of Some Provisions of Public Joint Stock Companies to Limited Liability Companies (\"Resolution\") provides that the powers and authorities of manager(s) shall be determined by the MOA or by a general assembly meeting resolution.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">POAs as a Delegation Instrument</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Delegation instruments are instruments used to delegate powers and authorities from one party to another. They come in different forms such as POAs (a notarized delegation instrument), proxies and delegation letters.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">The principal (party issuing the POA) must have the power it wishes to grant to the attorney. A POA in the UAE must specify the powers given to the attorney to have legal effect. There is also no specific form required for the validity of a POA. It should, however, be notarized and certified by the relevant authorities and should contain the following information:</p>\r\n\r\n<ul>\r\n 	<li dir=\"LTR\">the details of the principal;</li>\r\n 	<li dir=\"LTR\">the details of the attorney;</li>\r\n 	<li dir=\"LTR\">the powers being delegated;</li>\r\n 	<li dir=\"LTR\">date of issuance;</li>\r\n 	<li dir=\"LTR\">capacity of the principal (for example: \"in my capacity as manager of X company\");</li>\r\n 	<li dir=\"LTR\">duration of POA, if any;</li>\r\n 	<li dir=\"LTR\">any other requirements made by the notary public.</li>\r\n</ul>\r\n<p dir=\"LTR\" align=\"LEFT\">It is also worth noting that in the UAE, POAs are not capable of being irrevocable i.e. the principal can cancel the attorney’s authority at any time.</p>\r\n&nbsp;\r\n<h2 dir=\"LTR\" align=\"LEFT\">\"Managers of limited liability companies shall hold a duly notarized document which evidences their powers and authorities.\"</h2>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Cancellation of Power of Attorney, Delegations and General Assembly Resolutions</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>Powers of Attorney</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">Among other less common situations, there are situations that arise in which the POA granted to an attorney is mutually or automatically terminated and others in which the principal dismisses the attorney and wishes to revoke the POA.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>i. The termination of the POA</em></p>\r\n<p dir=\"LTR\" style=\"padding-left: 30px;\" align=\"LEFT\">Article 954 of the Civil Code provides the circumstances in which a POA may be terminated, as follows:</p>\r\n\r\n<ul>\r\n 	<li dir=\"LTR\">upon the completion of the work which was delegated;</li>\r\n 	<li dir=\"LTR\">upon the expiration of the term of the POA;</li>\r\n 	<li dir=\"LTR\">upon the death of the principal or his/her ceasing to have legal capacity; or</li>\r\n 	<li dir=\"LTR\">upon the death of the attorney or his/her ceasing to be of legal capacity.</li>\r\n</ul>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>ii. Dismissal of the Manager and revocation of POA</em></p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Generally, a principal may dismiss or restrict the powers of an attorney at its discretion, unless (i) third party rights have arisen by virtue of the POA; or (ii) if the POA was granted for the benefit of the attorney, in which case the principal may not terminate or restrict the POA without the consent of the person for whose benefit it was created. If the POA is issued in favor of the attorney, i.e,. it provides the attorney with some beneficial rights, the principal may not terminate or limit the POA without the consent of the attorney. The principal may be liable for any harm caused to the attorney as a result of termination/revocation of the POA at an inappropriate time without an acceptable reason. In practice, for the principal to dismiss an attorney (i.e. revoke the POA), the principal must sign and notarize a revocation instrument before the notary public. The revocation is then reflected in the notary public’s system and notified to the attorney by the principal by way of registered mail. The attorney must cease acting on behalf of the principal upon receipt of said notification. Even though not required by law, as a precautionary measure, principals should publish the revocation of the POA in the newspaper.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>Delegations</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">Written delegations which have not been notarized may be revoked simply by written notification to the delegate.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">Additional steps should be taken to revoke delegations granted to attend general assembly/board meetings, such as notifying the company concerned.</p>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\"><em>General Assembly Resolutions</em></p>\r\n<p dir=\"LTR\" align=\"LEFT\">General Assembly resolutions cannot be revoked or cancelled.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">They may, however, be superseded by general assembly resolution, which rectifies, alters, replaces, revokes, cancels or amends the previous partners’ resolution.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">As there is no legal requirement to notarize general assembly resolutions, a notarized partners’ resolution may only be replaced/revoked by way of a notarized partners’ resolution.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Conclusion</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">As previously mentioned, managers of LLCs perform their roles through a delegation instrument which grants powers to them to manage the businesses and sign on behalf of LLCs. The most common delegation instrument is the MOA. In circumstances where the MOA does not provide such delegation, a general assembly resolution or a POA is resorted to. Determining the method of delegating powers to managers of LLCs will be dependent on the circumstances applicable to each particular case.</p>\r\n&nbsp;\r\n\r\n<em>Al Tamimi &amp; Company’s corporate commercial team regularly advises on ECM, M&amp;As, and corporate commercial matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/sarah-tomy/\">Sarah Mohamed Tomy</a> (<a href=\"mailto:s.tomy@tamimi.com\">s.tomy@tamimi.com</a>) or <a href=\"https://www.tamimi.com/lawyer/mohamed-khodeir/\">Mohamed Khodeir</a> (<a href=\"mailto:m.khodeir@tamimi.com\">m.khodeir@tamimi.com</a>).</em>'),
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The applicant can then pay the registration fees and print out the ‘e registration certificate’ immediately.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">The TMO’s online system also provides an automated blocking that prevents the processing of the payment and issuance of the e-certificate in the event of a third party opposition. If the published trademark application is opposed within the prescribed time period, the new system automatically halts the application upon the TMO’s processing of such opposition. Applicants will thus come to know of the opposition even though the TMO has yet to notify them of it officially. Thus, the online system for registration of trademark has simplified the publication and opposition process considerably.</p>\r\n<img class=\"aligncenter size-full wp-image-8262\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_12_Image_0001-copy.jpg\" alt=\"\" width=\"1194\" height=\"470\" />\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Searches</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The TMO also recently introduced an online system for trademark searches in the UAE. We anticipate that the TMO will next introduce its e-services to oppositions and counterstatements filings and appealing TMO decisions. As of April 2018, the TMO in the UAE launched the e-service for trademark searches to facilitate the conducting of official searches for availability of trademarks online. After remitting the official search fee online, the applicant can enter the search words both in English and in Arabic and the class(es) to be searched, and the search results will be available to print immediately.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Renewal</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The latest development with regards to TMO’s ‘e services’ is the Ministry of Economy’s circular dated 26 June, 2018 pertaining to the launch of electronic service for renewal of trademark registrations. As per the circular, ‘e service’ for trademark registration renewals and the electronic issuance of renewal certificates are now also available. Trademark registrants can file renewal applications, pay all fees and upload the publication forms for the renewals online. Once the publications are effected and copies uploaded onto the system, the renewal certificates will issue electronically.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">For using Trademark Registry’s ‘e service’, you may visit the below website:</p>\r\n<p dir=\"LTR\" align=\"LEFT\"><a href=\"https://services.economy.ae/m/Pages/Home.aspx?lang=ar-ae\">https://services.economy.ae/m/Pages/Home.aspx?lang=ar-ae</a></p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Challenges</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">This article will now considers certain challenges which persist in the online search system. The current system provides a search service that may cover a single word, or a combination of more than one word, numbers or alphabets. However, as with the prior non-electronic old system, the new service has yet to cover logos. Moreover, if the search is for a word or combination of words, the search results will identify only the identical word or a combination of words identical to the searched word/ words. This means that the search system currently excludes from the results those trademarks that may be similar but do not contain word(s) identical to the word(s) searched. However, if the search is for some letters or a combination of letters and numbers that do not form a word, then the system will identify any trademark that contains any of the letters or numbers searched.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">The search results’ limitation to identical word(s) is indeed a shortcoming of the new online system in the UAE. However, this shortcoming is resolvable to a certain extent by varying the word(s) searched. As such, the system allows for entering the search word in different forms namely, entering singular and plural forms of the word, entering the word with different spelling etc. in the same search.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Other e-services</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Similarly, it has been quite some time since the Dubai Department of Economic Development (DED) has launched an e-filing system for filing of all complaints pertaining to trademark infringements and raid actions. The DED has also recently launched an online gateway for recording registered trademarks with the DED. The online portal supports DED in conducting routine checks for any counterfeiting / infringing products and informing the trademark owners/agents about the detected counterfeits / infringements. The brand owners can then file official complaints with the DED online system in order to take action against any infringing parties. Should you require further details on the DED’s IP Portal Gateway service please do not hesitate to contact the author of this article.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Other areas of IP</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Similar to the TMO, the Patent and Copyright registries in the UAE has also introduced online filing systems for the registration of Patents, Industrial Designs and Copyrights for more than a year. For further details on these systems, please do not hesitate to contact our firm’s Patent and Designs team.</p>\r\nAl Tamimi &amp; Company’s <a href=\"https://www.tamimi.com/practice/intellectual-property/\">IP team</a> regularly advises on all Intellectual Property Rights related matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/muhammad-ali/\">Mohammed Ali</a> (<a href=\"mailto:m.ali@tamimi.com\">m.ali@tamimi.com</a>).'),
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The TMO’s new practice will undoubtedly pave the way for a smoother and more efficient trademark registration process.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">This article considers the progress the TMO has made in fully developing an electronic IP service system, as well as briefly considering the e-services available with other IP authorities in the UAE.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Registrations</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Having started the online filing system at the end of 2015, the UAE Trademark Office (TMO) gradually developed its e-services to cover all the registration process by the beginning of 2018. 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We anticipate that the TMO will next introduce its e-services to oppositions and counterstatements filings and appealing TMO decisions. As of April 2018, the TMO in the UAE launched the e-service for trademark searches to facilitate the conducting of official searches for availability of trademarks online. After remitting the official search fee online, the applicant can enter the search words both in English and in Arabic and the class(es) to be searched, and the search results will be available to print immediately.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Renewal</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The latest development with regards to TMO’s ‘e services’ is the Ministry of Economy’s circular dated 26 June, 2018 pertaining to the launch of electronic service for renewal of trademark registrations. As per the circular, ‘e service’ for trademark registration renewals and the electronic issuance of renewal certificates are now also available. 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The applicant can then pay the registration fees and print out the ‘e registration certificate’ immediately.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">The TMO’s online system also provides an automated blocking that prevents the processing of the payment and issuance of the e-certificate in the event of a third party opposition. If the published trademark application is opposed within the prescribed time period, the new system automatically halts the application upon the TMO’s processing of such opposition. Applicants will thus come to know of the opposition even though the TMO has yet to notify them of it officially. Thus, the online system for registration of trademark has simplified the publication and opposition process considerably.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Searches</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The TMO also recently introduced an online system for trademark searches in the UAE. We anticipate that the TMO will next introduce its e-services to oppositions and counterstatements filings and appealing TMO decisions. As of April 2018, the TMO in the UAE launched the e-service for trademark searches to facilitate the conducting of official searches for availability of trademarks online. After remitting the official search fee online, the applicant can enter the search words both in English and in Arabic and the class(es) to be searched, and the search results will be available to print immediately.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Renewal</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The latest development with regards to TMO’s ‘e services’ is the Ministry of Economy’s circular dated 26 June, 2018 pertaining to the launch of electronic service for renewal of trademark registrations. As per the circular, ‘e service’ for trademark registration renewals and the electronic issuance of renewal certificates are now also available. Trademark registrants can file renewal applications, pay all fees and upload the publication forms for the renewals online. Once the publications are effected and copies uploaded onto the system, the renewal certificates will issue electronically.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">For using Trademark Registry’s ‘e service’, you may visit the below website:</p>\r\n<p dir=\"LTR\" align=\"LEFT\"><a href=\"https://services.economy.ae/m/Pages/Home.aspx?lang=ar-ae\">https://services.economy.ae/m/Pages/Home.aspx?lang=ar-ae</a></p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Challenges</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">This article will now considers certain challenges which persist in the online search system. The current system provides a search service that may cover a single word, or a combination of more than one word, numbers or alphabets. However, as with the prior non-electronic old system, the new service has yet to cover logos. Moreover, if the search is for a word or combination of words, the search results will identify only the identical word or a combination of words identical to the searched word/ words. This means that the search system currently excludes from the results those trademarks that may be similar but do not contain word(s) identical to the word(s) searched. However, if the search is for some letters or a combination of letters and numbers that do not form a word, then the system will identify any trademark that contains any of the letters or numbers searched.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">The search results’ limitation to identical word(s) is indeed a shortcoming of the new online system in the UAE. However, this shortcoming is resolvable to a certain extent by varying the word(s) searched. As such, the system allows for entering the search word in different forms namely, entering singular and plural forms of the word, entering the word with different spelling etc. in the same search.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Other e-services</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Similarly, it has been quite some time since the Dubai Department of Economic Development (DED) has launched an e-filing system for filing of all complaints pertaining to trademark infringements and raid actions. The DED has also recently launched an online gateway for recording registered trademarks with the DED. The online portal supports DED in conducting routine checks for any counterfeiting / infringing products and informing the trademark owners/agents about the detected counterfeits / infringements. The brand owners can then file official complaints with the DED online system in order to take action against any infringing parties. Should you require further details on the DED’s IP Portal Gateway service please do not hesitate to contact the author of this article.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Other areas of IP</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Similar to the TMO, the Patent and Copyright registries in the UAE has also introduced online filing systems for the registration of Patents, Industrial Designs and Copyrights for more than a year. For further details on these systems, please do not hesitate to contact our firm’s Patent and Designs team.</p>\r\n\r\nAl Tamimi &amp; Company’s <a href=\"https://www.tamimi.com/practice/intellectual-property/\">IP team</a> regularly advises on all Intellectual Property Rights related matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/muhammad-ali/\">Mohammed Ali</a> (<a href=\"mailto:m.ali@tamimi.com\">m.ali@tamimi.com</a>).|<p dir=\"LTR\" align=\"LEFT\"><img class=\"alignright size-full wp-image-8242\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_11_Image_0002.jpg\" alt=\"\" width=\"729\" height=\"321\" />With the modern world’s trend of adopting ‘e services’ in all forms of transactions, the Intellectual Property registries in the UAE are following suit. To this end, the UAE Trademark Office (TMO) has launched an online platform, which allows users to utilise IP services with ease and minimum time and effort. The various e-services now available with the TMO replace the previous procedures, which required submission of physical documents and applications and payment of fees in person. The TMO’s new practice will undoubtedly pave the way for a smoother and more efficient trademark registration process.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">This article considers the progress the TMO has made in fully developing an electronic IP service system, as well as briefly considering the e-services available with other IP authorities in the UAE.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Registrations</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Having started the online filing system at the end of 2015, the UAE Trademark Office (TMO) gradually developed its e-services to cover all the registration process by the beginning of 2018. Indeed, most of the services relating to the prosecution of trademark applications are now accessible via the internet and available electronically with the TMO as further detailed below.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">After filing the trademark application online, along with submitting all particulars of the application and the electronic remittance of the official filing fees, an applicant can now also arrange for the publication of the trademark online. The applicant can pay the official publication fees through the online portal and extract the publication form for their record. Following this payment, the TMO will publish the trademark in the UAE Trademark Journal. Upon expiry of the opposition period and in the absence of an opposition, the applicant can upload copies of the publications in the official gazette and local newspapers to the online portal. The applicant can then pay the registration fees and print out the ‘e registration certificate’ immediately.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">The TMO’s online system also provides an automated blocking that prevents the processing of the payment and issuance of the e-certificate in the event of a third party opposition. If the published trademark application is opposed within the prescribed time period, the new system automatically halts the application upon the TMO’s processing of such opposition. Applicants will thus come to know of the opposition even though the TMO has yet to notify them of it officially. Thus, the online system for registration of trademark has simplified the publication and opposition process considerably.</p>\r\n<img class=\"aligncenter size-full wp-image-8262\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_12_Image_0001-copy.jpg\" alt=\"\" width=\"1194\" height=\"470\" />\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Searches</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The TMO also recently introduced an online system for trademark searches in the UAE. We anticipate that the TMO will next introduce its e-services to oppositions and counterstatements filings and appealing TMO decisions. As of April 2018, the TMO in the UAE launched the e-service for trademark searches to facilitate the conducting of official searches for availability of trademarks online. After remitting the official search fee online, the applicant can enter the search words both in English and in Arabic and the class(es) to be searched, and the search results will be available to print immediately.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Renewal</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The latest development with regards to TMO’s ‘e services’ is the Ministry of Economy’s circular dated 26 June, 2018 pertaining to the launch of electronic service for renewal of trademark registrations. As per the circular, ‘e service’ for trademark registration renewals and the electronic issuance of renewal certificates are now also available. Trademark registrants can file renewal applications, pay all fees and upload the publication forms for the renewals online. Once the publications are effected and copies uploaded onto the system, the renewal certificates will issue electronically.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">For using Trademark Registry’s ‘e service’, you may visit the below website:</p>\r\n<p dir=\"LTR\" align=\"LEFT\"><a href=\"https://services.economy.ae/m/Pages/Home.aspx?lang=ar-ae\">https://services.economy.ae/m/Pages/Home.aspx?lang=ar-ae</a></p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Challenges</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">This article will now considers certain challenges which persist in the online search system. The current system provides a search service that may cover a single word, or a combination of more than one word, numbers or alphabets. However, as with the prior non-electronic old system, the new service has yet to cover logos. Moreover, if the search is for a word or combination of words, the search results will identify only the identical word or a combination of words identical to the searched word/ words. This means that the search system currently excludes from the results those trademarks that may be similar but do not contain word(s) identical to the word(s) searched. However, if the search is for some letters or a combination of letters and numbers that do not form a word, then the system will identify any trademark that contains any of the letters or numbers searched.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">The search results’ limitation to identical word(s) is indeed a shortcoming of the new online system in the UAE. However, this shortcoming is resolvable to a certain extent by varying the word(s) searched. As such, the system allows for entering the search word in different forms namely, entering singular and plural forms of the word, entering the word with different spelling etc. in the same search.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Other e-services</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Similarly, it has been quite some time since the Dubai Department of Economic Development (DED) has launched an e-filing system for filing of all complaints pertaining to trademark infringements and raid actions. The DED has also recently launched an online gateway for recording registered trademarks with the DED. The online portal supports DED in conducting routine checks for any counterfeiting / infringing products and informing the trademark owners/agents about the detected counterfeits / infringements. The brand owners can then file official complaints with the DED online system in order to take action against any infringing parties. Should you require further details on the DED’s IP Portal Gateway service please do not hesitate to contact the author of this article.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Other areas of IP</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Similar to the TMO, the Patent and Copyright registries in the UAE has also introduced online filing systems for the registration of Patents, Industrial Designs and Copyrights for more than a year. For further details on these systems, please do not hesitate to contact our firm’s Patent and Designs team.</p>\r\nAl Tamimi &amp; Company’s <a href=\"https://www.tamimi.com/practice/intellectual-property/\">IP team</a> regularly advises on all Intellectual Property Rights related matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/muhammad-ali/\">Mohammed Ali</a> (<a href=\"mailto:m.ali@tamimi.com\">m.ali@tamimi.com</a>).'),
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(305191, 29158, 'PostTitle', 'Enhanced Online Services in the UAE Trademark Regime'),
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(305193, 29158, 'PostType', 'law_update_articles'),
(305194, 29158, 'PostDate', '2018-09-04 07:48:02'),
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(305198, 29158, 'MetaValueNew', '<p dir=\"LTR\" align=\"LEFT\"><img class=\"alignright size-full wp-image-8242\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_11_Image_0002.jpg\" alt=\"\" width=\"729\" height=\"321\" />With the modern world’s trend of adopting ‘e services’ in all forms of transactions, the Intellectual Property registries in the UAE are following suit. To this end, the UAE Trademark Office (TMO) has launched an online platform, which allows users to utilise IP services with ease and minimum time and effort. The various e-services now available with the TMO replace the previous procedures, which required submission of physical documents and applications and payment of fees in person. The TMO’s new practice will undoubtedly pave the way for a smoother and more efficient trademark registration process.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">This article considers the progress the TMO has made in fully developing an electronic IP service system, as well as briefly considering the e-services available with other IP authorities in the UAE.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Registrations</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Having started the online filing system at the end of 2015, the UAE Trademark Office (TMO) gradually developed its e-services to cover all the registration process by the beginning of 2018. Indeed, most of the services relating to the prosecution of trademark applications are now accessible via the internet and available electronically with the TMO as further detailed below.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">After filing the trademark application online, along with submitting all particulars of the application and the electronic remittance of the official filing fees, an applicant can now also arrange for the publication of the trademark online. The applicant can pay the official publication fees through the online portal and extract the publication form for their record. Following this payment, the TMO will publish the trademark in the UAE Trademark Journal. Upon expiry of the opposition period and in the absence of an opposition, the applicant can upload copies of the publications in the official gazette and local newspapers to the online portal. The applicant can then pay the registration fees and print out the ‘e registration certificate’ immediately.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">The TMO’s online system also provides an automated blocking that prevents the processing of the payment and issuance of the e-certificate in the event of a third party opposition. If the published trademark application is opposed within the prescribed time period, the new system automatically halts the application upon the TMO’s processing of such opposition. Applicants will thus come to know of the opposition even though the TMO has yet to notify them of it officially. Thus, the online system for registration of trademark has simplified the publication and opposition process considerably.</p>\r\n\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Searches</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The TMO also recently introduced an online system for trademark searches in the UAE. We anticipate that the TMO will next introduce its e-services to oppositions and counterstatements filings and appealing TMO decisions. As of April 2018, the TMO in the UAE launched the e-service for trademark searches to facilitate the conducting of official searches for availability of trademarks online. After remitting the official search fee online, the applicant can enter the search words both in English and in Arabic and the class(es) to be searched, and the search results will be available to print immediately.</p>\r\n\r\n<img class=\"aligncenter size-full wp-image-8262\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_12_Image_0001-copy.jpg\" alt=\"\" width=\"1194\" height=\"470\" />\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Renewal</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The latest development with regards to TMO’s ‘e services’ is the Ministry of Economy’s circular dated 26 June, 2018 pertaining to the launch of electronic service for renewal of trademark registrations. As per the circular, ‘e service’ for trademark registration renewals and the electronic issuance of renewal certificates are now also available. Trademark registrants can file renewal applications, pay all fees and upload the publication forms for the renewals online. Once the publications are effected and copies uploaded onto the system, the renewal certificates will issue electronically.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">For using Trademark Registry’s ‘e service’, you may visit the below website:</p>\r\n<p dir=\"LTR\" align=\"LEFT\"><a href=\"https://services.economy.ae/m/Pages/Home.aspx?lang=ar-ae\">https://services.economy.ae/m/Pages/Home.aspx?lang=ar-ae</a></p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Challenges</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">This article will now considers certain challenges which persist in the online search system. The current system provides a search service that may cover a single word, or a combination of more than one word, numbers or alphabets. However, as with the prior non-electronic old system, the new service has yet to cover logos. Moreover, if the search is for a word or combination of words, the search results will identify only the identical word or a combination of words identical to the searched word/ words. This means that the search system currently excludes from the results those trademarks that may be similar but do not contain word(s) identical to the word(s) searched. However, if the search is for some letters or a combination of letters and numbers that do not form a word, then the system will identify any trademark that contains any of the letters or numbers searched.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">The search results’ limitation to identical word(s) is indeed a shortcoming of the new online system in the UAE. However, this shortcoming is resolvable to a certain extent by varying the word(s) searched. As such, the system allows for entering the search word in different forms namely, entering singular and plural forms of the word, entering the word with different spelling etc. in the same search.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Other e-services</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Similarly, it has been quite some time since the Dubai Department of Economic Development (DED) has launched an e-filing system for filing of all complaints pertaining to trademark infringements and raid actions. The DED has also recently launched an online gateway for recording registered trademarks with the DED. The online portal supports DED in conducting routine checks for any counterfeiting / infringing products and informing the trademark owners/agents about the detected counterfeits / infringements. The brand owners can then file official complaints with the DED online system in order to take action against any infringing parties. Should you require further details on the DED’s IP Portal Gateway service please do not hesitate to contact the author of this article.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Other areas of IP</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Similar to the TMO, the Patent and Copyright registries in the UAE has also introduced online filing systems for the registration of Patents, Industrial Designs and Copyrights for more than a year. For further details on these systems, please do not hesitate to contact our firm’s Patent and Designs team.</p>\r\nAl Tamimi &amp; Company’s <a href=\"https://www.tamimi.com/practice/intellectual-property/\">IP team</a> regularly advises on all Intellectual Property Rights related matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/muhammad-ali/\">Mohammed Ali</a> (<a href=\"mailto:m.ali@tamimi.com\">m.ali@tamimi.com</a>).');
INSERT INTO `tm_wsal_metadata` (`id`, `occurrence_id`, `name`, `value`) VALUES
(305199, 29158, 'MetaValueOld', '<p dir=\"LTR\" align=\"LEFT\"><img class=\"alignright size-full wp-image-8242\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_11_Image_0002.jpg\" alt=\"\" width=\"729\" height=\"321\" />With the modern world’s trend of adopting ‘e services’ in all forms of transactions, the Intellectual Property registries in the UAE are following suit. To this end, the UAE Trademark Office (TMO) has launched an online platform, which allows users to utilise IP services with ease and minimum time and effort. The various e-services now available with the TMO replace the previous procedures, which required submission of physical documents and applications and payment of fees in person. The TMO’s new practice will undoubtedly pave the way for a smoother and more efficient trademark registration process.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">This article considers the progress the TMO has made in fully developing an electronic IP service system, as well as briefly considering the e-services available with other IP authorities in the UAE.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Registrations</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Having started the online filing system at the end of 2015, the UAE Trademark Office (TMO) gradually developed its e-services to cover all the registration process by the beginning of 2018. Indeed, most of the services relating to the prosecution of trademark applications are now accessible via the internet and available electronically with the TMO as further detailed below.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">After filing the trademark application online, along with submitting all particulars of the application and the electronic remittance of the official filing fees, an applicant can now also arrange for the publication of the trademark online. The applicant can pay the official publication fees through the online portal and extract the publication form for their record. Following this payment, the TMO will publish the trademark in the UAE Trademark Journal. Upon expiry of the opposition period and in the absence of an opposition, the applicant can upload copies of the publications in the official gazette and local newspapers to the online portal. The applicant can then pay the registration fees and print out the ‘e registration certificate’ immediately.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">The TMO’s online system also provides an automated blocking that prevents the processing of the payment and issuance of the e-certificate in the event of a third party opposition. If the published trademark application is opposed within the prescribed time period, the new system automatically halts the application upon the TMO’s processing of such opposition. Applicants will thus come to know of the opposition even though the TMO has yet to notify them of it officially. Thus, the online system for registration of trademark has simplified the publication and opposition process considerably.</p>\r\n<img class=\"aligncenter size-full wp-image-8262\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_12_Image_0001-copy.jpg\" alt=\"\" width=\"1194\" height=\"470\" />\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Searches</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The TMO also recently introduced an online system for trademark searches in the UAE. We anticipate that the TMO will next introduce its e-services to oppositions and counterstatements filings and appealing TMO decisions. As of April 2018, the TMO in the UAE launched the e-service for trademark searches to facilitate the conducting of official searches for availability of trademarks online. After remitting the official search fee online, the applicant can enter the search words both in English and in Arabic and the class(es) to be searched, and the search results will be available to print immediately.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Renewal</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The latest development with regards to TMO’s ‘e services’ is the Ministry of Economy’s circular dated 26 June, 2018 pertaining to the launch of electronic service for renewal of trademark registrations. As per the circular, ‘e service’ for trademark registration renewals and the electronic issuance of renewal certificates are now also available. Trademark registrants can file renewal applications, pay all fees and upload the publication forms for the renewals online. Once the publications are effected and copies uploaded onto the system, the renewal certificates will issue electronically.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">For using Trademark Registry’s ‘e service’, you may visit the below website:</p>\r\n<p dir=\"LTR\" align=\"LEFT\"><a href=\"https://services.economy.ae/m/Pages/Home.aspx?lang=ar-ae\">https://services.economy.ae/m/Pages/Home.aspx?lang=ar-ae</a></p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Challenges</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">This article will now considers certain challenges which persist in the online search system. The current system provides a search service that may cover a single word, or a combination of more than one word, numbers or alphabets. However, as with the prior non-electronic old system, the new service has yet to cover logos. Moreover, if the search is for a word or combination of words, the search results will identify only the identical word or a combination of words identical to the searched word/ words. This means that the search system currently excludes from the results those trademarks that may be similar but do not contain word(s) identical to the word(s) searched. However, if the search is for some letters or a combination of letters and numbers that do not form a word, then the system will identify any trademark that contains any of the letters or numbers searched.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">The search results’ limitation to identical word(s) is indeed a shortcoming of the new online system in the UAE. However, this shortcoming is resolvable to a certain extent by varying the word(s) searched. As such, the system allows for entering the search word in different forms namely, entering singular and plural forms of the word, entering the word with different spelling etc. in the same search.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Other e-services</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Similarly, it has been quite some time since the Dubai Department of Economic Development (DED) has launched an e-filing system for filing of all complaints pertaining to trademark infringements and raid actions. The DED has also recently launched an online gateway for recording registered trademarks with the DED. The online portal supports DED in conducting routine checks for any counterfeiting / infringing products and informing the trademark owners/agents about the detected counterfeits / infringements. The brand owners can then file official complaints with the DED online system in order to take action against any infringing parties. Should you require further details on the DED’s IP Portal Gateway service please do not hesitate to contact the author of this article.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Other areas of IP</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Similar to the TMO, the Patent and Copyright registries in the UAE has also introduced online filing systems for the registration of Patents, Industrial Designs and Copyrights for more than a year. For further details on these systems, please do not hesitate to contact our firm’s Patent and Designs team.</p>\r\nAl Tamimi &amp; Company’s <a href=\"https://www.tamimi.com/practice/intellectual-property/\">IP team</a> regularly advises on all Intellectual Property Rights related matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/muhammad-ali/\">Mohammed Ali</a> (<a href=\"mailto:m.ali@tamimi.com\">m.ali@tamimi.com</a>).'),
(305200, 29158, 'MetaLink', 'content'),
(305201, 29158, 'EditorLinkPost', 'https://www.tamimi.com/wp-admin/post.php?post=8190&amp;action=edit'),
(305202, 29158, 'ReportText', '<p dir=\"LTR\" align=\"LEFT\"><img class=\"alignright size-full wp-image-8242\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_11_Image_0002.jpg\" alt=\"\" width=\"729\" height=\"321\" />With the modern world’s trend of adopting ‘e services’ in all forms of transactions, the Intellectual Property registries in the UAE are following suit. To this end, the UAE Trademark Office (TMO) has launched an online platform, which allows users to utilise IP services with ease and minimum time and effort. The various e-services now available with the TMO replace the previous procedures, which required submission of physical documents and applications and payment of fees in person. The TMO’s new practice will undoubtedly pave the way for a smoother and more efficient trademark registration process.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">This article considers the progress the TMO has made in fully developing an electronic IP service system, as well as briefly considering the e-services available with other IP authorities in the UAE.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Registrations</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Having started the online filing system at the end of 2015, the UAE Trademark Office (TMO) gradually developed its e-services to cover all the registration process by the beginning of 2018. Indeed, most of the services relating to the prosecution of trademark applications are now accessible via the internet and available electronically with the TMO as further detailed below.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">After filing the trademark application online, along with submitting all particulars of the application and the electronic remittance of the official filing fees, an applicant can now also arrange for the publication of the trademark online. The applicant can pay the official publication fees through the online portal and extract the publication form for their record. Following this payment, the TMO will publish the trademark in the UAE Trademark Journal. Upon expiry of the opposition period and in the absence of an opposition, the applicant can upload copies of the publications in the official gazette and local newspapers to the online portal. The applicant can then pay the registration fees and print out the ‘e registration certificate’ immediately.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">The TMO’s online system also provides an automated blocking that prevents the processing of the payment and issuance of the e-certificate in the event of a third party opposition. If the published trademark application is opposed within the prescribed time period, the new system automatically halts the application upon the TMO’s processing of such opposition. Applicants will thus come to know of the opposition even though the TMO has yet to notify them of it officially. Thus, the online system for registration of trademark has simplified the publication and opposition process considerably.</p>\r\n<img class=\"aligncenter size-full wp-image-8262\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_12_Image_0001-copy.jpg\" alt=\"\" width=\"1194\" height=\"470\" />\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Searches</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The TMO also recently introduced an online system for trademark searches in the UAE. We anticipate that the TMO will next introduce its e-services to oppositions and counterstatements filings and appealing TMO decisions. As of April 2018, the TMO in the UAE launched the e-service for trademark searches to facilitate the conducting of official searches for availability of trademarks online. After remitting the official search fee online, the applicant can enter the search words both in English and in Arabic and the class(es) to be searched, and the search results will be available to print immediately.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Renewal</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The latest development with regards to TMO’s ‘e services’ is the Ministry of Economy’s circular dated 26 June, 2018 pertaining to the launch of electronic service for renewal of trademark registrations. As per the circular, ‘e service’ for trademark registration renewals and the electronic issuance of renewal certificates are now also available. Trademark registrants can file renewal applications, pay all fees and upload the publication forms for the renewals online. Once the publications are effected and copies uploaded onto the system, the renewal certificates will issue electronically.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">For using Trademark Registry’s ‘e service’, you may visit the below website:</p>\r\n<p dir=\"LTR\" align=\"LEFT\"><a href=\"https://services.economy.ae/m/Pages/Home.aspx?lang=ar-ae\">https://services.economy.ae/m/Pages/Home.aspx?lang=ar-ae</a></p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Challenges</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">This article will now considers certain challenges which persist in the online search system. The current system provides a search service that may cover a single word, or a combination of more than one word, numbers or alphabets. However, as with the prior non-electronic old system, the new service has yet to cover logos. Moreover, if the search is for a word or combination of words, the search results will identify only the identical word or a combination of words identical to the searched word/ words. This means that the search system currently excludes from the results those trademarks that may be similar but do not contain word(s) identical to the word(s) searched. However, if the search is for some letters or a combination of letters and numbers that do not form a word, then the system will identify any trademark that contains any of the letters or numbers searched.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">The search results’ limitation to identical word(s) is indeed a shortcoming of the new online system in the UAE. However, this shortcoming is resolvable to a certain extent by varying the word(s) searched. As such, the system allows for entering the search word in different forms namely, entering singular and plural forms of the word, entering the word with different spelling etc. in the same search.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Other e-services</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Similarly, it has been quite some time since the Dubai Department of Economic Development (DED) has launched an e-filing system for filing of all complaints pertaining to trademark infringements and raid actions. The DED has also recently launched an online gateway for recording registered trademarks with the DED. The online portal supports DED in conducting routine checks for any counterfeiting / infringing products and informing the trademark owners/agents about the detected counterfeits / infringements. The brand owners can then file official complaints with the DED online system in order to take action against any infringing parties. Should you require further details on the DED’s IP Portal Gateway service please do not hesitate to contact the author of this article.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Other areas of IP</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Similar to the TMO, the Patent and Copyright registries in the UAE has also introduced online filing systems for the registration of Patents, Industrial Designs and Copyrights for more than a year. For further details on these systems, please do not hesitate to contact our firm’s Patent and Designs team.</p>\r\nAl Tamimi &amp; Company’s <a href=\"https://www.tamimi.com/practice/intellectual-property/\">IP team</a> regularly advises on all Intellectual Property Rights related matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/muhammad-ali/\">Mohammed Ali</a> (<a href=\"mailto:m.ali@tamimi.com\">m.ali@tamimi.com</a>).|<p dir=\"LTR\" align=\"LEFT\"><img class=\"alignright size-full wp-image-8242\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_11_Image_0002.jpg\" alt=\"\" width=\"729\" height=\"321\" />With the modern world’s trend of adopting ‘e services’ in all forms of transactions, the Intellectual Property registries in the UAE are following suit. To this end, the UAE Trademark Office (TMO) has launched an online platform, which allows users to utilise IP services with ease and minimum time and effort. The various e-services now available with the TMO replace the previous procedures, which required submission of physical documents and applications and payment of fees in person. The TMO’s new practice will undoubtedly pave the way for a smoother and more efficient trademark registration process.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">This article considers the progress the TMO has made in fully developing an electronic IP service system, as well as briefly considering the e-services available with other IP authorities in the UAE.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Registrations</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Having started the online filing system at the end of 2015, the UAE Trademark Office (TMO) gradually developed its e-services to cover all the registration process by the beginning of 2018. Indeed, most of the services relating to the prosecution of trademark applications are now accessible via the internet and available electronically with the TMO as further detailed below.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">After filing the trademark application online, along with submitting all particulars of the application and the electronic remittance of the official filing fees, an applicant can now also arrange for the publication of the trademark online. The applicant can pay the official publication fees through the online portal and extract the publication form for their record. Following this payment, the TMO will publish the trademark in the UAE Trademark Journal. Upon expiry of the opposition period and in the absence of an opposition, the applicant can upload copies of the publications in the official gazette and local newspapers to the online portal. The applicant can then pay the registration fees and print out the ‘e registration certificate’ immediately.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">The TMO’s online system also provides an automated blocking that prevents the processing of the payment and issuance of the e-certificate in the event of a third party opposition. If the published trademark application is opposed within the prescribed time period, the new system automatically halts the application upon the TMO’s processing of such opposition. Applicants will thus come to know of the opposition even though the TMO has yet to notify them of it officially. Thus, the online system for registration of trademark has simplified the publication and opposition process considerably.</p>\r\n\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Searches</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The TMO also recently introduced an online system for trademark searches in the UAE. We anticipate that the TMO will next introduce its e-services to oppositions and counterstatements filings and appealing TMO decisions. As of April 2018, the TMO in the UAE launched the e-service for trademark searches to facilitate the conducting of official searches for availability of trademarks online. After remitting the official search fee online, the applicant can enter the search words both in English and in Arabic and the class(es) to be searched, and the search results will be available to print immediately.</p>\r\n\r\n<img class=\"aligncenter size-full wp-image-8262\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_12_Image_0001-copy.jpg\" alt=\"\" width=\"1194\" height=\"470\" />\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Renewal</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The latest development with regards to TMO’s ‘e services’ is the Ministry of Economy’s circular dated 26 June, 2018 pertaining to the launch of electronic service for renewal of trademark registrations. As per the circular, ‘e service’ for trademark registration renewals and the electronic issuance of renewal certificates are now also available. Trademark registrants can file renewal applications, pay all fees and upload the publication forms for the renewals online. Once the publications are effected and copies uploaded onto the system, the renewal certificates will issue electronically.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">For using Trademark Registry’s ‘e service’, you may visit the below website:</p>\r\n<p dir=\"LTR\" align=\"LEFT\"><a href=\"https://services.economy.ae/m/Pages/Home.aspx?lang=ar-ae\">https://services.economy.ae/m/Pages/Home.aspx?lang=ar-ae</a></p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Challenges</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">This article will now considers certain challenges which persist in the online search system. The current system provides a search service that may cover a single word, or a combination of more than one word, numbers or alphabets. However, as with the prior non-electronic old system, the new service has yet to cover logos. Moreover, if the search is for a word or combination of words, the search results will identify only the identical word or a combination of words identical to the searched word/ words. This means that the search system currently excludes from the results those trademarks that may be similar but do not contain word(s) identical to the word(s) searched. However, if the search is for some letters or a combination of letters and numbers that do not form a word, then the system will identify any trademark that contains any of the letters or numbers searched.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">The search results’ limitation to identical word(s) is indeed a shortcoming of the new online system in the UAE. However, this shortcoming is resolvable to a certain extent by varying the word(s) searched. As such, the system allows for entering the search word in different forms namely, entering singular and plural forms of the word, entering the word with different spelling etc. in the same search.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Other e-services</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Similarly, it has been quite some time since the Dubai Department of Economic Development (DED) has launched an e-filing system for filing of all complaints pertaining to trademark infringements and raid actions. The DED has also recently launched an online gateway for recording registered trademarks with the DED. The online portal supports DED in conducting routine checks for any counterfeiting / infringing products and informing the trademark owners/agents about the detected counterfeits / infringements. The brand owners can then file official complaints with the DED online system in order to take action against any infringing parties. Should you require further details on the DED’s IP Portal Gateway service please do not hesitate to contact the author of this article.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Other areas of IP</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Similar to the TMO, the Patent and Copyright registries in the UAE has also introduced online filing systems for the registration of Patents, Industrial Designs and Copyrights for more than a year. For further details on these systems, please do not hesitate to contact our firm’s Patent and Designs team.</p>\r\nAl Tamimi &amp; Company’s <a href=\"https://www.tamimi.com/practice/intellectual-property/\">IP team</a> regularly advises on all Intellectual Property Rights related matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/muhammad-ali/\">Mohammed Ali</a> (<a href=\"mailto:m.ali@tamimi.com\">m.ali@tamimi.com</a>).'),
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(305236, 29161, 'PostDate', '2018-09-04 07:48:02'),
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(305240, 29161, 'MetaValueNew', '<p dir=\"LTR\" align=\"LEFT\"><img class=\"size-full wp-image-8242 alignleft\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_11_Image_0002.jpg\" alt=\"\" width=\"729\" height=\"321\" />With the modern world’s trend of adopting ‘e services’ in all forms of transactions, the Intellectual Property registries in the UAE are following suit. To this end, the UAE Trademark Office (TMO) has launched an online platform, which allows users to utilise IP services with ease and minimum time and effort. The various e-services now available with the TMO replace the previous procedures, which required submission of physical documents and applications and payment of fees in person. The TMO’s new practice will undoubtedly pave the way for a smoother and more efficient trademark registration process.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">This article considers the progress the TMO has made in fully developing an electronic IP service system, as well as briefly considering the e-services available with other IP authorities in the UAE.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Registrations</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Having started the online filing system at the end of 2015, the UAE Trademark Office (TMO) gradually developed its e-services to cover all the registration process by the beginning of 2018. Indeed, most of the services relating to the prosecution of trademark applications are now accessible via the internet and available electronically with the TMO as further detailed below.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">After filing the trademark application online, along with submitting all particulars of the application and the electronic remittance of the official filing fees, an applicant can now also arrange for the publication of the trademark online. The applicant can pay the official publication fees through the online portal and extract the publication form for their record. Following this payment, the TMO will publish the trademark in the UAE Trademark Journal. Upon expiry of the opposition period and in the absence of an opposition, the applicant can upload copies of the publications in the official gazette and local newspapers to the online portal. The applicant can then pay the registration fees and print out the ‘e registration certificate’ immediately.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">The TMO’s online system also provides an automated blocking that prevents the processing of the payment and issuance of the e-certificate in the event of a third party opposition. If the published trademark application is opposed within the prescribed time period, the new system automatically halts the application upon the TMO’s processing of such opposition. Applicants will thus come to know of the opposition even though the TMO has yet to notify them of it officially. Thus, the online system for registration of trademark has simplified the publication and opposition process considerably.</p>\r\n\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Searches</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The TMO also recently introduced an online system for trademark searches in the UAE. We anticipate that the TMO will next introduce its e-services to oppositions and counterstatements filings and appealing TMO decisions. As of April 2018, the TMO in the UAE launched the e-service for trademark searches to facilitate the conducting of official searches for availability of trademarks online. After remitting the official search fee online, the applicant can enter the search words both in English and in Arabic and the class(es) to be searched, and the search results will be available to print immediately.</p>\r\n<img class=\"aligncenter size-full wp-image-8262\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_12_Image_0001-copy.jpg\" alt=\"\" width=\"1194\" height=\"470\" />\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Renewal</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The latest development with regards to TMO’s ‘e services’ is the Ministry of Economy’s circular dated 26 June, 2018 pertaining to the launch of electronic service for renewal of trademark registrations. As per the circular, ‘e service’ for trademark registration renewals and the electronic issuance of renewal certificates are now also available. Trademark registrants can file renewal applications, pay all fees and upload the publication forms for the renewals online. Once the publications are effected and copies uploaded onto the system, the renewal certificates will issue electronically.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">For using Trademark Registry’s ‘e service’, you may visit the below website:</p>\r\n<p dir=\"LTR\" align=\"LEFT\"><a href=\"https://services.economy.ae/m/Pages/Home.aspx?lang=ar-ae\">https://services.economy.ae/m/Pages/Home.aspx?lang=ar-ae</a></p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Challenges</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">This article will now considers certain challenges which persist in the online search system. The current system provides a search service that may cover a single word, or a combination of more than one word, numbers or alphabets. However, as with the prior non-electronic old system, the new service has yet to cover logos. Moreover, if the search is for a word or combination of words, the search results will identify only the identical word or a combination of words identical to the searched word/ words. This means that the search system currently excludes from the results those trademarks that may be similar but do not contain word(s) identical to the word(s) searched. However, if the search is for some letters or a combination of letters and numbers that do not form a word, then the system will identify any trademark that contains any of the letters or numbers searched.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">The search results’ limitation to identical word(s) is indeed a shortcoming of the new online system in the UAE. However, this shortcoming is resolvable to a certain extent by varying the word(s) searched. As such, the system allows for entering the search word in different forms namely, entering singular and plural forms of the word, entering the word with different spelling etc. in the same search.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Other e-services</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Similarly, it has been quite some time since the Dubai Department of Economic Development (DED) has launched an e-filing system for filing of all complaints pertaining to trademark infringements and raid actions. The DED has also recently launched an online gateway for recording registered trademarks with the DED. The online portal supports DED in conducting routine checks for any counterfeiting / infringing products and informing the trademark owners/agents about the detected counterfeits / infringements. The brand owners can then file official complaints with the DED online system in order to take action against any infringing parties. Should you require further details on the DED’s IP Portal Gateway service please do not hesitate to contact the author of this article.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Other areas of IP</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Similar to the TMO, the Patent and Copyright registries in the UAE has also introduced online filing systems for the registration of Patents, Industrial Designs and Copyrights for more than a year. For further details on these systems, please do not hesitate to contact our firm’s Patent and Designs team.</p>\r\nAl Tamimi &amp; Company’s <a href=\"https://www.tamimi.com/practice/intellectual-property/\">IP team</a> regularly advises on all Intellectual Property Rights related matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/muhammad-ali/\">Mohammed Ali</a> (<a href=\"mailto:m.ali@tamimi.com\">m.ali@tamimi.com</a>).'),
(305241, 29161, 'MetaValueOld', '<p dir=\"LTR\" align=\"LEFT\"><img class=\"alignright size-full wp-image-8242\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_11_Image_0002.jpg\" alt=\"\" width=\"729\" height=\"321\" />With the modern world’s trend of adopting ‘e services’ in all forms of transactions, the Intellectual Property registries in the UAE are following suit. To this end, the UAE Trademark Office (TMO) has launched an online platform, which allows users to utilise IP services with ease and minimum time and effort. The various e-services now available with the TMO replace the previous procedures, which required submission of physical documents and applications and payment of fees in person. The TMO’s new practice will undoubtedly pave the way for a smoother and more efficient trademark registration process.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">This article considers the progress the TMO has made in fully developing an electronic IP service system, as well as briefly considering the e-services available with other IP authorities in the UAE.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Registrations</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Having started the online filing system at the end of 2015, the UAE Trademark Office (TMO) gradually developed its e-services to cover all the registration process by the beginning of 2018. Indeed, most of the services relating to the prosecution of trademark applications are now accessible via the internet and available electronically with the TMO as further detailed below.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">After filing the trademark application online, along with submitting all particulars of the application and the electronic remittance of the official filing fees, an applicant can now also arrange for the publication of the trademark online. The applicant can pay the official publication fees through the online portal and extract the publication form for their record. Following this payment, the TMO will publish the trademark in the UAE Trademark Journal. Upon expiry of the opposition period and in the absence of an opposition, the applicant can upload copies of the publications in the official gazette and local newspapers to the online portal. The applicant can then pay the registration fees and print out the ‘e registration certificate’ immediately.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">The TMO’s online system also provides an automated blocking that prevents the processing of the payment and issuance of the e-certificate in the event of a third party opposition. If the published trademark application is opposed within the prescribed time period, the new system automatically halts the application upon the TMO’s processing of such opposition. Applicants will thus come to know of the opposition even though the TMO has yet to notify them of it officially. Thus, the online system for registration of trademark has simplified the publication and opposition process considerably.</p>\r\n\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Searches</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The TMO also recently introduced an online system for trademark searches in the UAE. We anticipate that the TMO will next introduce its e-services to oppositions and counterstatements filings and appealing TMO decisions. As of April 2018, the TMO in the UAE launched the e-service for trademark searches to facilitate the conducting of official searches for availability of trademarks online. After remitting the official search fee online, the applicant can enter the search words both in English and in Arabic and the class(es) to be searched, and the search results will be available to print immediately.</p>\r\n\r\n<img class=\"aligncenter size-full wp-image-8262\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_12_Image_0001-copy.jpg\" alt=\"\" width=\"1194\" height=\"470\" />\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Renewal</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The latest development with regards to TMO’s ‘e services’ is the Ministry of Economy’s circular dated 26 June, 2018 pertaining to the launch of electronic service for renewal of trademark registrations. As per the circular, ‘e service’ for trademark registration renewals and the electronic issuance of renewal certificates are now also available. Trademark registrants can file renewal applications, pay all fees and upload the publication forms for the renewals online. Once the publications are effected and copies uploaded onto the system, the renewal certificates will issue electronically.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">For using Trademark Registry’s ‘e service’, you may visit the below website:</p>\r\n<p dir=\"LTR\" align=\"LEFT\"><a href=\"https://services.economy.ae/m/Pages/Home.aspx?lang=ar-ae\">https://services.economy.ae/m/Pages/Home.aspx?lang=ar-ae</a></p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Challenges</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">This article will now considers certain challenges which persist in the online search system. The current system provides a search service that may cover a single word, or a combination of more than one word, numbers or alphabets. However, as with the prior non-electronic old system, the new service has yet to cover logos. Moreover, if the search is for a word or combination of words, the search results will identify only the identical word or a combination of words identical to the searched word/ words. This means that the search system currently excludes from the results those trademarks that may be similar but do not contain word(s) identical to the word(s) searched. However, if the search is for some letters or a combination of letters and numbers that do not form a word, then the system will identify any trademark that contains any of the letters or numbers searched.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">The search results’ limitation to identical word(s) is indeed a shortcoming of the new online system in the UAE. However, this shortcoming is resolvable to a certain extent by varying the word(s) searched. As such, the system allows for entering the search word in different forms namely, entering singular and plural forms of the word, entering the word with different spelling etc. in the same search.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Other e-services</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Similarly, it has been quite some time since the Dubai Department of Economic Development (DED) has launched an e-filing system for filing of all complaints pertaining to trademark infringements and raid actions. The DED has also recently launched an online gateway for recording registered trademarks with the DED. The online portal supports DED in conducting routine checks for any counterfeiting / infringing products and informing the trademark owners/agents about the detected counterfeits / infringements. The brand owners can then file official complaints with the DED online system in order to take action against any infringing parties. Should you require further details on the DED’s IP Portal Gateway service please do not hesitate to contact the author of this article.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Other areas of IP</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Similar to the TMO, the Patent and Copyright registries in the UAE has also introduced online filing systems for the registration of Patents, Industrial Designs and Copyrights for more than a year. For further details on these systems, please do not hesitate to contact our firm’s Patent and Designs team.</p>\r\nAl Tamimi &amp; Company’s <a href=\"https://www.tamimi.com/practice/intellectual-property/\">IP team</a> regularly advises on all Intellectual Property Rights related matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/muhammad-ali/\">Mohammed Ali</a> (<a href=\"mailto:m.ali@tamimi.com\">m.ali@tamimi.com</a>).'),
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(305244, 29161, 'ReportText', '<p dir=\"LTR\" align=\"LEFT\"><img class=\"alignright size-full wp-image-8242\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_11_Image_0002.jpg\" alt=\"\" width=\"729\" height=\"321\" />With the modern world’s trend of adopting ‘e services’ in all forms of transactions, the Intellectual Property registries in the UAE are following suit. To this end, the UAE Trademark Office (TMO) has launched an online platform, which allows users to utilise IP services with ease and minimum time and effort. The various e-services now available with the TMO replace the previous procedures, which required submission of physical documents and applications and payment of fees in person. The TMO’s new practice will undoubtedly pave the way for a smoother and more efficient trademark registration process.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">This article considers the progress the TMO has made in fully developing an electronic IP service system, as well as briefly considering the e-services available with other IP authorities in the UAE.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Registrations</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Having started the online filing system at the end of 2015, the UAE Trademark Office (TMO) gradually developed its e-services to cover all the registration process by the beginning of 2018. Indeed, most of the services relating to the prosecution of trademark applications are now accessible via the internet and available electronically with the TMO as further detailed below.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">After filing the trademark application online, along with submitting all particulars of the application and the electronic remittance of the official filing fees, an applicant can now also arrange for the publication of the trademark online. The applicant can pay the official publication fees through the online portal and extract the publication form for their record. Following this payment, the TMO will publish the trademark in the UAE Trademark Journal. Upon expiry of the opposition period and in the absence of an opposition, the applicant can upload copies of the publications in the official gazette and local newspapers to the online portal. The applicant can then pay the registration fees and print out the ‘e registration certificate’ immediately.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">The TMO’s online system also provides an automated blocking that prevents the processing of the payment and issuance of the e-certificate in the event of a third party opposition. If the published trademark application is opposed within the prescribed time period, the new system automatically halts the application upon the TMO’s processing of such opposition. Applicants will thus come to know of the opposition even though the TMO has yet to notify them of it officially. Thus, the online system for registration of trademark has simplified the publication and opposition process considerably.</p>\r\n\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Searches</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The TMO also recently introduced an online system for trademark searches in the UAE. We anticipate that the TMO will next introduce its e-services to oppositions and counterstatements filings and appealing TMO decisions. As of April 2018, the TMO in the UAE launched the e-service for trademark searches to facilitate the conducting of official searches for availability of trademarks online. After remitting the official search fee online, the applicant can enter the search words both in English and in Arabic and the class(es) to be searched, and the search results will be available to print immediately.</p>\r\n\r\n<img class=\"aligncenter size-full wp-image-8262\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_12_Image_0001-copy.jpg\" alt=\"\" width=\"1194\" height=\"470\" />\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Renewal</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The latest development with regards to TMO’s ‘e services’ is the Ministry of Economy’s circular dated 26 June, 2018 pertaining to the launch of electronic service for renewal of trademark registrations. As per the circular, ‘e service’ for trademark registration renewals and the electronic issuance of renewal certificates are now also available. Trademark registrants can file renewal applications, pay all fees and upload the publication forms for the renewals online. Once the publications are effected and copies uploaded onto the system, the renewal certificates will issue electronically.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">For using Trademark Registry’s ‘e service’, you may visit the below website:</p>\r\n<p dir=\"LTR\" align=\"LEFT\"><a href=\"https://services.economy.ae/m/Pages/Home.aspx?lang=ar-ae\">https://services.economy.ae/m/Pages/Home.aspx?lang=ar-ae</a></p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Challenges</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">This article will now considers certain challenges which persist in the online search system. The current system provides a search service that may cover a single word, or a combination of more than one word, numbers or alphabets. However, as with the prior non-electronic old system, the new service has yet to cover logos. Moreover, if the search is for a word or combination of words, the search results will identify only the identical word or a combination of words identical to the searched word/ words. This means that the search system currently excludes from the results those trademarks that may be similar but do not contain word(s) identical to the word(s) searched. However, if the search is for some letters or a combination of letters and numbers that do not form a word, then the system will identify any trademark that contains any of the letters or numbers searched.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">The search results’ limitation to identical word(s) is indeed a shortcoming of the new online system in the UAE. However, this shortcoming is resolvable to a certain extent by varying the word(s) searched. As such, the system allows for entering the search word in different forms namely, entering singular and plural forms of the word, entering the word with different spelling etc. in the same search.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Other e-services</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Similarly, it has been quite some time since the Dubai Department of Economic Development (DED) has launched an e-filing system for filing of all complaints pertaining to trademark infringements and raid actions. The DED has also recently launched an online gateway for recording registered trademarks with the DED. The online portal supports DED in conducting routine checks for any counterfeiting / infringing products and informing the trademark owners/agents about the detected counterfeits / infringements. The brand owners can then file official complaints with the DED online system in order to take action against any infringing parties. Should you require further details on the DED’s IP Portal Gateway service please do not hesitate to contact the author of this article.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Other areas of IP</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Similar to the TMO, the Patent and Copyright registries in the UAE has also introduced online filing systems for the registration of Patents, Industrial Designs and Copyrights for more than a year. For further details on these systems, please do not hesitate to contact our firm’s Patent and Designs team.</p>\r\nAl Tamimi &amp; Company’s <a href=\"https://www.tamimi.com/practice/intellectual-property/\">IP team</a> regularly advises on all Intellectual Property Rights related matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/muhammad-ali/\">Mohammed Ali</a> (<a href=\"mailto:m.ali@tamimi.com\">m.ali@tamimi.com</a>).|<p dir=\"LTR\" align=\"LEFT\"><img class=\"size-full wp-image-8242 alignleft\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_11_Image_0002.jpg\" alt=\"\" width=\"729\" height=\"321\" />With the modern world’s trend of adopting ‘e services’ in all forms of transactions, the Intellectual Property registries in the UAE are following suit. To this end, the UAE Trademark Office (TMO) has launched an online platform, which allows users to utilise IP services with ease and minimum time and effort. The various e-services now available with the TMO replace the previous procedures, which required submission of physical documents and applications and payment of fees in person. The TMO’s new practice will undoubtedly pave the way for a smoother and more efficient trademark registration process.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">This article considers the progress the TMO has made in fully developing an electronic IP service system, as well as briefly considering the e-services available with other IP authorities in the UAE.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Registrations</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Having started the online filing system at the end of 2015, the UAE Trademark Office (TMO) gradually developed its e-services to cover all the registration process by the beginning of 2018. Indeed, most of the services relating to the prosecution of trademark applications are now accessible via the internet and available electronically with the TMO as further detailed below.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">After filing the trademark application online, along with submitting all particulars of the application and the electronic remittance of the official filing fees, an applicant can now also arrange for the publication of the trademark online. The applicant can pay the official publication fees through the online portal and extract the publication form for their record. Following this payment, the TMO will publish the trademark in the UAE Trademark Journal. Upon expiry of the opposition period and in the absence of an opposition, the applicant can upload copies of the publications in the official gazette and local newspapers to the online portal. The applicant can then pay the registration fees and print out the ‘e registration certificate’ immediately.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">The TMO’s online system also provides an automated blocking that prevents the processing of the payment and issuance of the e-certificate in the event of a third party opposition. If the published trademark application is opposed within the prescribed time period, the new system automatically halts the application upon the TMO’s processing of such opposition. Applicants will thus come to know of the opposition even though the TMO has yet to notify them of it officially. Thus, the online system for registration of trademark has simplified the publication and opposition process considerably.</p>\r\n\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Searches</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The TMO also recently introduced an online system for trademark searches in the UAE. We anticipate that the TMO will next introduce its e-services to oppositions and counterstatements filings and appealing TMO decisions. As of April 2018, the TMO in the UAE launched the e-service for trademark searches to facilitate the conducting of official searches for availability of trademarks online. After remitting the official search fee online, the applicant can enter the search words both in English and in Arabic and the class(es) to be searched, and the search results will be available to print immediately.</p>\r\n<img class=\"aligncenter size-full wp-image-8262\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_12_Image_0001-copy.jpg\" alt=\"\" width=\"1194\" height=\"470\" />\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Renewal</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The latest development with regards to TMO’s ‘e services’ is the Ministry of Economy’s circular dated 26 June, 2018 pertaining to the launch of electronic service for renewal of trademark registrations. As per the circular, ‘e service’ for trademark registration renewals and the electronic issuance of renewal certificates are now also available. Trademark registrants can file renewal applications, pay all fees and upload the publication forms for the renewals online. Once the publications are effected and copies uploaded onto the system, the renewal certificates will issue electronically.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">For using Trademark Registry’s ‘e service’, you may visit the below website:</p>\r\n<p dir=\"LTR\" align=\"LEFT\"><a href=\"https://services.economy.ae/m/Pages/Home.aspx?lang=ar-ae\">https://services.economy.ae/m/Pages/Home.aspx?lang=ar-ae</a></p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Challenges</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">This article will now considers certain challenges which persist in the online search system. The current system provides a search service that may cover a single word, or a combination of more than one word, numbers or alphabets. However, as with the prior non-electronic old system, the new service has yet to cover logos. Moreover, if the search is for a word or combination of words, the search results will identify only the identical word or a combination of words identical to the searched word/ words. This means that the search system currently excludes from the results those trademarks that may be similar but do not contain word(s) identical to the word(s) searched. However, if the search is for some letters or a combination of letters and numbers that do not form a word, then the system will identify any trademark that contains any of the letters or numbers searched.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">The search results’ limitation to identical word(s) is indeed a shortcoming of the new online system in the UAE. However, this shortcoming is resolvable to a certain extent by varying the word(s) searched. As such, the system allows for entering the search word in different forms namely, entering singular and plural forms of the word, entering the word with different spelling etc. in the same search.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Other e-services</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Similarly, it has been quite some time since the Dubai Department of Economic Development (DED) has launched an e-filing system for filing of all complaints pertaining to trademark infringements and raid actions. The DED has also recently launched an online gateway for recording registered trademarks with the DED. The online portal supports DED in conducting routine checks for any counterfeiting / infringing products and informing the trademark owners/agents about the detected counterfeits / infringements. The brand owners can then file official complaints with the DED online system in order to take action against any infringing parties. Should you require further details on the DED’s IP Portal Gateway service please do not hesitate to contact the author of this article.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Other areas of IP</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Similar to the TMO, the Patent and Copyright registries in the UAE has also introduced online filing systems for the registration of Patents, Industrial Designs and Copyrights for more than a year. For further details on these systems, please do not hesitate to contact our firm’s Patent and Designs team.</p>\r\nAl Tamimi &amp; Company’s <a href=\"https://www.tamimi.com/practice/intellectual-property/\">IP team</a> regularly advises on all Intellectual Property Rights related matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/muhammad-ali/\">Mohammed Ali</a> (<a href=\"mailto:m.ali@tamimi.com\">m.ali@tamimi.com</a>).'),
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(305287, 29165, 'PostTitle', 'Enhanced Online Services in the UAE Trademark Regime'),
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(305290, 29165, 'PostDate', '2018-09-04 07:48:02'),
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(305294, 29165, 'MetaValueNew', '<p dir=\"LTR\" align=\"LEFT\"><img class=\" wp-image-8242 alignleft\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_11_Image_0002.jpg\" alt=\"\" width=\"491\" height=\"216\" />With the modern world’s trend of adopting ‘e services’ in all forms of transactions, the Intellectual Property registries in the UAE are following suit. To this end, the UAE Trademark Office (TMO) has launched an online platform, which allows users to utilise IP services with ease and minimum time and effort. The various e-services now available with the TMO replace the previous procedures, which required submission of physical documents and applications and payment of fees in person. The TMO’s new practice will undoubtedly pave the way for a smoother and more efficient trademark registration process.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">This article considers the progress the TMO has made in fully developing an electronic IP service system, as well as briefly considering the e-services available with other IP authorities in the UAE.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Registrations</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Having started the online filing system at the end of 2015, the UAE Trademark Office (TMO) gradually developed its e-services to cover all the registration process by the beginning of 2018. Indeed, most of the services relating to the prosecution of trademark applications are now accessible via the internet and available electronically with the TMO as further detailed below.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">After filing the trademark application online, along with submitting all particulars of the application and the electronic remittance of the official filing fees, an applicant can now also arrange for the publication of the trademark online. The applicant can pay the official publication fees through the online portal and extract the publication form for their record. Following this payment, the TMO will publish the trademark in the UAE Trademark Journal. Upon expiry of the opposition period and in the absence of an opposition, the applicant can upload copies of the publications in the official gazette and local newspapers to the online portal. The applicant can then pay the registration fees and print out the ‘e registration certificate’ immediately.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">The TMO’s online system also provides an automated blocking that prevents the processing of the payment and issuance of the e-certificate in the event of a third party opposition. If the published trademark application is opposed within the prescribed time period, the new system automatically halts the application upon the TMO’s processing of such opposition. Applicants will thus come to know of the opposition even though the TMO has yet to notify them of it officially. Thus, the online system for registration of trademark has simplified the publication and opposition process considerably.</p>\r\n\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Searches</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The TMO also recently introduced an online system for trademark searches in the UAE. We anticipate that the TMO will next introduce its e-services to oppositions and counterstatements filings and appealing TMO decisions. As of April 2018, the TMO in the UAE launched the e-service for trademark searches to facilitate the conducting of official searches for availability of trademarks online. After remitting the official search fee online, the applicant can enter the search words both in English and in Arabic and the class(es) to be searched, and the search results will be available to print immediately.</p>\r\n<img class=\"aligncenter size-full wp-image-8262\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_12_Image_0001-copy.jpg\" alt=\"\" width=\"1194\" height=\"470\" />\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Renewal</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The latest development with regards to TMO’s ‘e services’ is the Ministry of Economy’s circular dated 26 June, 2018 pertaining to the launch of electronic service for renewal of trademark registrations. As per the circular, ‘e service’ for trademark registration renewals and the electronic issuance of renewal certificates are now also available. Trademark registrants can file renewal applications, pay all fees and upload the publication forms for the renewals online. Once the publications are effected and copies uploaded onto the system, the renewal certificates will issue electronically.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">For using Trademark Registry’s ‘e service’, you may visit the below website:</p>\r\n<p dir=\"LTR\" align=\"LEFT\"><a href=\"https://services.economy.ae/m/Pages/Home.aspx?lang=ar-ae\">https://services.economy.ae/m/Pages/Home.aspx?lang=ar-ae</a></p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Challenges</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">This article will now considers certain challenges which persist in the online search system. The current system provides a search service that may cover a single word, or a combination of more than one word, numbers or alphabets. However, as with the prior non-electronic old system, the new service has yet to cover logos. Moreover, if the search is for a word or combination of words, the search results will identify only the identical word or a combination of words identical to the searched word/ words. This means that the search system currently excludes from the results those trademarks that may be similar but do not contain word(s) identical to the word(s) searched. However, if the search is for some letters or a combination of letters and numbers that do not form a word, then the system will identify any trademark that contains any of the letters or numbers searched.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">The search results’ limitation to identical word(s) is indeed a shortcoming of the new online system in the UAE. However, this shortcoming is resolvable to a certain extent by varying the word(s) searched. As such, the system allows for entering the search word in different forms namely, entering singular and plural forms of the word, entering the word with different spelling etc. in the same search.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Other e-services</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Similarly, it has been quite some time since the Dubai Department of Economic Development (DED) has launched an e-filing system for filing of all complaints pertaining to trademark infringements and raid actions. The DED has also recently launched an online gateway for recording registered trademarks with the DED. The online portal supports DED in conducting routine checks for any counterfeiting / infringing products and informing the trademark owners/agents about the detected counterfeits / infringements. The brand owners can then file official complaints with the DED online system in order to take action against any infringing parties. Should you require further details on the DED’s IP Portal Gateway service please do not hesitate to contact the author of this article.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Other areas of IP</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Similar to the TMO, the Patent and Copyright registries in the UAE has also introduced online filing systems for the registration of Patents, Industrial Designs and Copyrights for more than a year. For further details on these systems, please do not hesitate to contact our firm’s Patent and Designs team.</p>\r\nAl Tamimi &amp; Company’s <a href=\"https://www.tamimi.com/practice/intellectual-property/\">IP team</a> regularly advises on all Intellectual Property Rights related matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/muhammad-ali/\">Mohammed Ali</a> (<a href=\"mailto:m.ali@tamimi.com\">m.ali@tamimi.com</a>).'),
(305295, 29165, 'MetaValueOld', '<p dir=\"LTR\" align=\"LEFT\"><img class=\"size-full wp-image-8242 alignleft\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_11_Image_0002.jpg\" alt=\"\" width=\"729\" height=\"321\" />With the modern world’s trend of adopting ‘e services’ in all forms of transactions, the Intellectual Property registries in the UAE are following suit. To this end, the UAE Trademark Office (TMO) has launched an online platform, which allows users to utilise IP services with ease and minimum time and effort. The various e-services now available with the TMO replace the previous procedures, which required submission of physical documents and applications and payment of fees in person. The TMO’s new practice will undoubtedly pave the way for a smoother and more efficient trademark registration process.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">This article considers the progress the TMO has made in fully developing an electronic IP service system, as well as briefly considering the e-services available with other IP authorities in the UAE.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Registrations</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Having started the online filing system at the end of 2015, the UAE Trademark Office (TMO) gradually developed its e-services to cover all the registration process by the beginning of 2018. Indeed, most of the services relating to the prosecution of trademark applications are now accessible via the internet and available electronically with the TMO as further detailed below.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">After filing the trademark application online, along with submitting all particulars of the application and the electronic remittance of the official filing fees, an applicant can now also arrange for the publication of the trademark online. The applicant can pay the official publication fees through the online portal and extract the publication form for their record. Following this payment, the TMO will publish the trademark in the UAE Trademark Journal. Upon expiry of the opposition period and in the absence of an opposition, the applicant can upload copies of the publications in the official gazette and local newspapers to the online portal. The applicant can then pay the registration fees and print out the ‘e registration certificate’ immediately.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">The TMO’s online system also provides an automated blocking that prevents the processing of the payment and issuance of the e-certificate in the event of a third party opposition. If the published trademark application is opposed within the prescribed time period, the new system automatically halts the application upon the TMO’s processing of such opposition. Applicants will thus come to know of the opposition even though the TMO has yet to notify them of it officially. Thus, the online system for registration of trademark has simplified the publication and opposition process considerably.</p>\r\n\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Searches</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The TMO also recently introduced an online system for trademark searches in the UAE. We anticipate that the TMO will next introduce its e-services to oppositions and counterstatements filings and appealing TMO decisions. As of April 2018, the TMO in the UAE launched the e-service for trademark searches to facilitate the conducting of official searches for availability of trademarks online. After remitting the official search fee online, the applicant can enter the search words both in English and in Arabic and the class(es) to be searched, and the search results will be available to print immediately.</p>\r\n<img class=\"aligncenter size-full wp-image-8262\" src=\"https://www.tamimi.com/wp-content/uploads/2018/09/August-Edition-DPS_Page_12_Image_0001-copy.jpg\" alt=\"\" width=\"1194\" height=\"470\" />\r\n<h3 dir=\"LTR\" align=\"LEFT\">Trademark Renewal</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">The latest development with regards to TMO’s ‘e services’ is the Ministry of Economy’s circular dated 26 June, 2018 pertaining to the launch of electronic service for renewal of trademark registrations. As per the circular, ‘e service’ for trademark registration renewals and the electronic issuance of renewal certificates are now also available. Trademark registrants can file renewal applications, pay all fees and upload the publication forms for the renewals online. Once the publications are effected and copies uploaded onto the system, the renewal certificates will issue electronically.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">For using Trademark Registry’s ‘e service’, you may visit the below website:</p>\r\n<p dir=\"LTR\" align=\"LEFT\"><a href=\"https://services.economy.ae/m/Pages/Home.aspx?lang=ar-ae\">https://services.economy.ae/m/Pages/Home.aspx?lang=ar-ae</a></p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Challenges</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">This article will now considers certain challenges which persist in the online search system. The current system provides a search service that may cover a single word, or a combination of more than one word, numbers or alphabets. However, as with the prior non-electronic old system, the new service has yet to cover logos. Moreover, if the search is for a word or combination of words, the search results will identify only the identical word or a combination of words identical to the searched word/ words. This means that the search system currently excludes from the results those trademarks that may be similar but do not contain word(s) identical to the word(s) searched. However, if the search is for some letters or a combination of letters and numbers that do not form a word, then the system will identify any trademark that contains any of the letters or numbers searched.</p>\r\n<p dir=\"LTR\" align=\"LEFT\">The search results’ limitation to identical word(s) is indeed a shortcoming of the new online system in the UAE. However, this shortcoming is resolvable to a certain extent by varying the word(s) searched. As such, the system allows for entering the search word in different forms namely, entering singular and plural forms of the word, entering the word with different spelling etc. in the same search.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Other e-services</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Similarly, it has been quite some time since the Dubai Department of Economic Development (DED) has launched an e-filing system for filing of all complaints pertaining to trademark infringements and raid actions. The DED has also recently launched an online gateway for recording registered trademarks with the DED. The online portal supports DED in conducting routine checks for any counterfeiting / infringing products and informing the trademark owners/agents about the detected counterfeits / infringements. The brand owners can then file official complaints with the DED online system in order to take action against any infringing parties. Should you require further details on the DED’s IP Portal Gateway service please do not hesitate to contact the author of this article.</p>\r\n&nbsp;\r\n<h3 dir=\"LTR\" align=\"LEFT\">Other areas of IP</h3>\r\n&nbsp;\r\n<p dir=\"LTR\" align=\"LEFT\">Similar to the TMO, the Patent and Copyright registries in the UAE has also introduced online filing systems for the registration of Patents, Industrial Designs and Copyrights for more than a year. For further details on these systems, please do not hesitate to contact our firm’s Patent and Designs team.</p>\r\nAl Tamimi &amp; Company’s <a href=\"https://www.tamimi.com/practice/intellectual-property/\">IP team</a> regularly advises on all Intellectual Property Rights related matters. For further information please contact <a href=\"https://www.tamimi.com/lawyer/muhammad-ali/\">Mohammed Ali</a> (<a href=\"mailto:m.ali@tamimi.com\">m.ali@tamimi.com</a>).'),
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