Türkiye chapter of “International Arbitration” written by Serdar Paksoy, Simel Sarialioglu, Doguhan Uygun and Osman Pepeoğlu is published on Lexology In-Depth*. You may reach the entire publication here.
Türkiye has become more arbitration friendly as the alternative dispute resolution methods are trending. The legal framework, court decisions, scholarly opinion and approach to arbitration have been transformed to match international standards. The Istanbul Arbitration Centre (ISTAC) which provides dispute resolution services for international and domestic parties was established in 2014. The Prime Ministry Circular numbered 2016/25 was published later on, in which it explicitly states that resolving disputes through arbitration or alternative dispute resolution methods is targeted as a state policy by aiming to reduce the workload in the national courts.2 The circular encourages all organisations and companies to insert an arbitration clause into their contracts. In light of the above-mentioned developments and encouragements, both international and domestic arbitration cases that involve Turkish parties are increasing. The disputes solved through arbitration in Türkiye typically revolve around shareholder conflicts, infrastructure, construction, energy and associated issues.
*Reproduced with permission from Law Business Research Ltd. This article was first published in Lexology In-Depth: International Arbitration – Edition 15. For further information, please visit.
Share
Related persons
You can contact us for detailed information.
Legal Information
This briefing is for information purposes; it is not legal advice. If you have questions, please call us. All rights reserved.
You May Be Interested In
13 January 2025
New Administrative Fines Regulation For Competition Violations Enters Into Force
The Regulation on Administrative Fines for Restrictive Agreements, Concerted Practices, Decisions, and Abuse of Dominance, which governs…
9 January 2025
Türkiye Strengthens Anti-Money Laundering Standards for Crypto Assets
Following the legal framework established for crypto assets and crypto asset service providers ("CASPs") under the Capital Markets Law No.…
6 January 2025
Thresholds for Initial Public Offerings Increased
As per the decision of the Capital Markets Board (the “CMB”) published in its bulletin dated 31 December 2024, the financial thresholds…
30 December 2024
Legal Briefing on Recent Developments in the Electricity Market
With the Regulation on Aggregation Activities in the Electricity Market, published in the Official Gazette dated 17 December 2024 and…
23 December 2024
Transfer of Marketing Authorisations for Medicinal Products
Under Turkish law, only entities registered in Türkiye are eligible to obtain a marketing authorization (“MA”) for medicinal products for…
20 December 2024
Amendments to Turkish Sustainability Reporting Standarts
The decision of the Public Oversight, Accounting, and Auditing Standards Authority (the “Decision”) on determining the scope of application…