BUSINESS LAW (İŞLETME HUKUKU) - (İNGİLİZCE) Dersi Mediation and International Commercial Arbitration soru detayı:

CEVAP:

Institutional arbitration: There are a large number of arbitration institutions. These institutions aim to provide arbitration services in order to assist with the conduct of the arbitration. These institutions have their own arbitration rules. Institutional arbitration is where parties prefer to enjoy the arbitration services provided by an institution, and choose to submit their disputes to an arbitration procedure under the rules of that institution. An advantage of institutional arbitration is the image behind the name of the institution. Especially in some countries where the courts or the laws are not arbitration-friendly, parties consider it beneficial when seeking to enforce an award that carries the name of an internationally respected institution. Another advantage of institutional arbitration is that, there is often an authority to apply for assistance. For example, if the parties cannot agree upon the name of the arbitrator, the institution helps with the resolution of this problem; hence, the parties do not have to resort to national courts whose decision will take longer to obtain. There are many international arbitration institutions. Some of the oldest and most professional ones may be listed as follows: International Chamber of Commerce International Court of Arbitration, London Court of International Arbitration, American Arbitration Association, Arbitration Institute of the Stockholm Chamber of Commerce. There are also arbitration institutions located in Turkey that provide international arbitration services. To illustrate: Union of Chambers and Commodity Exchanges of Turkey Arbitration Council, Istanbul Chamber of Commerce Arbitration Center, Istanbul Arbitration Centre.