ARBITRATION
Arbitration serves to resolve disputes quickly and reliably and is generally the leading dispute resolution method for disputes arising from international commercial and investment relations.
The arbitration procedure can be expressed very generally as the resolution of a dispute between the parties to a contract by an arbitral tribunal (or a sole arbitrator) composed of impartial third parties, instead of state courts. The arbitral award, whether given as a result of domestic or international arbitration, has the force of a court decision.
Arbitration can take place in the form of ad hoc or institutional arbitration. Institutional arbitration is more advantageous in some ways than ad hoc arbitration in that the rules of procedure to be applied to arbitration are predetermined and the process is carried out under the supervision of an institutional arbitration center such as the International Chamber of Commerce (ICC). However, ad hoc arbitration might be preferred from the viewpoint of confidentiality.
Among the leading arbitration centers in international arbitration, besides the ICC, the following centers can be counted: London Court of International Arbitration, Swiss Arbitration Center, American Arbitration Association, Singapore International Arbitration Center… In Turkey, Istanbul Arbitration Center, Istanbul Chamber of Commerce Arbitration and Mediation Center, TOBB Arbitration constitutes the leading and mostly preferred institutional arbitration centers.
Arbitration is a method of dispute resolution, the operation of which is subject to special procedural rules and where experience in the arbitration procedure is particularly decisive in the outcome.
Erturan|Şit Köşgeroğlu Law Office provides legal services as an arbitrator, lawyer, or consultant in many domestic and international arbitration processes and has experience and expertise in arbitration proceedings such as ICC, Swiss Arbitration Center, and ad hoc arbitration practice.
