Arbitration Agreement - Chapter 6 - Arbitration Law of Turkey: Practice and Procedure
Dr. Ziya Akinci, is the founding partner of AKINCI Law Oices, Turkey. He sits as an arbitrator in disputes under the ICC and other institute rules, including ITO and TRAC and also under ad hoc rules. Dr. Akinci acts as party counsel in arbitrations, both domestic and international, and under ICC, ICSID and ad hoc rules. He has previously been requested to provide expert opinions in some arbitration cases. Dr. Akinci is member of the ICC Court.
Originally from Arbitration Law of Turkey: Practice and Procedure
In general, the arbitration agreement provides the basis for arbitration. In order for arbitration proceedings to be brought, the parties must have concluded a valid arbitration agreement amongst themselves. Though TIAC does not specifically provide a definition of the arbitration agreement, the generally accepted definition is an agreement whereby two or more parties agree that a dispute, which has arisen or may arise between them in connection with a particular legal relationship, will be finally settled by one or more arbitrators. The essential element of the arbitration agreement is the parties’ intention to arbitrate. Thus, the parties’ intention to refer the dispute to arbitration needs to be as clear as possible1.
A simple one-sentence arbitration agreement is fine, if that is what the parties really want. Simplicity is important and often parties to contracts do not want complicated arbitration clauses. Especially when the parties refer to institutional arbitration, a simple arbitration clause is better since the rules referred regulate the proceeding in details. The location of the arbitration is always advised to be stated in the arbitration clause.
If the parties prefer a well-drafted arbitration clause, the parties agree to the issues such as selection and qualification of the arbitrators, language of Arbitration, governing law, and expenses.
6 ARBITRATION AGREEMENT
6.1 PARTİES OF THE ARBİTRATİON AGREEMENT
6.2 STATE PARTİES ARBİTRAİTON
6.3 INTENTİON TO ARBİTRATE
6.4 CONTENT OF THE ARBİTRATİON AGREEMENT
6.5 EXİSTİNG LEGAL RELATİONSHİP
6.6 APPLICABLE LAW TO ARBİTRATİON AGREEMENT
6.7 FORM OF THE ARBİTRATİON AGREEMENT
6.8 ENFORCING THE ARBITRATION AGREEMENT