Istanbul Arbitration Centre and Arbitration Rules 12 April 2017

The Istanbul Arbitration Centre (ISTAC), established by Law numbered 6570 dated 20.1.2014, is an independent, neutral and impartial institution providing efficient dispute resolution services for both international and domestic parties. The ISTAC’s dispute resolution services are available to all contracting parties, without any membership requirements.

In this context, ISTAC Arbitration and Mediation Rules (“ISTAC Rules”), which are prepared by considering the modern and generally accepted international standards on arbitration and dispute resolution rules, come into force on 26.10.2015. ISTAC Rules which have modern and reformist regulations, would satisfy the contemporary needs of arbitration and dispute resolution process.

ISTAC Rules could be applicable in two situations. One of them is when the parties mutually agree on that their conflict shall be settled under ISTAC Rules. Another situation is that the parties could agree on that ISTAC Council shall appoint the arbitrator in an ad hoc arbitration,

Right to fair trial of the parties is guaranteed under ISTAC Rules. Additionally, unless otherwise agreed by the parties, the arbitration shall be performed as secret trial and the arbitration place shall be Istanbul. Besides, ISTAC Rules shall consider the procedural economy as it is stated that the arbitrator(s) shall make necessary effort to finalize the arbitration in the quickest way with the minimum expense.

ISTAC Rules also allow parties to apply for temporary legal protection under ISTAC Emergency Arbitrator Rules in case of an emergency situation. However, the parties would agree on otherwise that ISTAC Emergency Arbitrator Rules shall not be applicable on the possible conflicts between them.

Additionally, it is also impressive that ISTAC Rules have adopted rapid arbitration rules. According to this, unless otherwise agreed by the parties, rapid arbitration rules shall be applied to the conflicts where the total claim is not exceeding 300.000 TL. However, in case the parties agree, the conflicts where the total claim is exceeding 300.000 TL, could also be subject to rapid arbitration rules. Rapid arbitration rules shorten both the time the parties are subject to, and the total duration of the arbitration procedure. Therefore, it is regulated in rapid arbitration rules that arbitrator shall give his decision in 3 months as of the transmittal of the arbitration file.

Besides, it is stated in the Communique on the Istanbul Arbitration Centre, numbered 2016/25, published in the Official Gazette dated 19.11.2016, that in order to save time and money, and to settle disputes effectively, impartially, secretly by considering international standards; public bodies and other establishments are invited to prefer above mentioned arbitration procedure in the national or international agreements in which they are a party. In this respect, it could be evaluated that ISTAC which aims to give service for national and international disputes by applying modern and reformist rules, would become more popular and preferable in upcoming years.

Türkçe Versiyonu İçin

http://www.kasaroglu.av.tr/tr/30825/Istanbul-Tahkim-Merkezi-ve-Tahkim-Kurallari

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