Arbitration is a common solution in international commercial contracts.
Important Arbitration Centers
- ICC (International Chamber of Commerce - Paris)
- LCIA (London Court of International Arbitration)
- SIAC (Singapore International Arbitration Centre)
- HKIAC (Hong Kong)
- İTOTAM (Istanbul Arbitration Center)
Advantages
- Impartial arbitrator
- Fast process
- Confidentiality
- International recognition of the award
- Expertise
New York Convention
- 1958 New York Convention
- 160+ countries are parties to the arbitration award
- enforcement
- Turkey party
Arbitration Agreement
- Written form
- Selection of arbitration center
- Applicable law
- Arbitration language
- Number of arbitrators
Supreme Court 11. HD
11. HD adopts a "broad interpretation" of arbitration agreements and that disputes subject to arbitration should not be brought to court.
International arbitration lawyer is recommended.