1. Concept and Legal Nature of International Arbitration 1.1 What is arbitration? Arbitration is a private dispute resolution mechanism in which parties agree to submit current or future disputes to one or more independent arbitrators instead of state courts. The arbitrators examine the facts and the law, conduct hearings and ultimately render a binding decision […]
Foreign arbitral awards are an integral part of international commerce, and Turkey has developed a relatively clear and arbitration-friendly framework for their recognition and enforcement. That framework is built on a combination of international conventions and domestic legislation, primarily the 1958 New York Convention and Law No. 5718 on Private International and Procedural Law (“PILPL”). […]