The World Bank: Abu Dhabi No. 2 worldwide in time to enforce contracts

Abu Dhabi, April 22, 2012 (WAM) - The Emirate of Abu Dhabi is No. 2 in the world for the time required to enforce business contracts, the World Bank's Doing Business 2012 Report has said. Time is one of three indicators used by the Report to measure Enforcing Contracts Effectiveness. It covers time required to file and serve the case, for trial and obtaining judgment, and to enforce the judgment. Courts of Abu Dhabi Judicial Department (ADJD) managed to make this development despite the increase in cases filed before them following the global financial crisis. The Achievement is a result for the support of ADJD's leadership to its 2008-2013 Strategy seeking to strike balance between fast settlements and quality of judgments and processes. The WB's Doing Business Report is a major international reference that provides objective measures of business regulations and their enforcement across 183 economies and selected cities at the sub-national and regional level. It measures and tracks changes in regulations related to starting a business, dealing with construction permits, registering property, and enforcing contracts among others. Second only to Singapore (150 days), Abu Dhabi came in the second place in the time required to enforce contracts before court with 180 days ahead of such countries like New Zealand (216 days), Hong Kong (280), the UK (399), Canada (570 days), and the GCC (590 days). – Emirates News Agency, WAM