International ArbitrationYağmur Akar

International arbitration is a leading method in order to resolve disputes arising from international commercial agreements and other international relationships.

What is International Arbitration?

The world of international law can be a daunting place. Conflicting judicial systems, different languages, cultures, and economic and political climates create significant obstacles to resolve international disputes. Arbitration provides an efficient, neutral means of resolving international disputes.

• International arbitration has enjoyed growing popularity over the past 50 years.

• There are a number of reasons that parties/sides elect to have their international disputes resolved through arbitration.

• These include the desire to avoid the uncertainties, the desire to obtain a quicker, more efficient decision, the commercial expertise of arbitrators and other benefits.

Main Features of International Arbitration

4 main institutions that is generally accepted in international commercial and investment contracts;

International Chamber of Commerce (ICC)

United Nations Commission on International Trade Law (UNCITRAL)

International Centre for Settlement of Investment Disputes (ICSID)

London Court of International Arbitration (LCIA)

It is an institution that provides solutions in international conflicts.

It has been active since 1923. ICC takes decisions within the frame of arbitration rules. Decisions are taken by one or three arbitrators.

As a principle arbitral commission should make final decision in 6 months.

Arbitration decisions are binding for parties.

International Chamber of Commerce (ICC)

International Centre for Settlement of Investment

Disputes (ICSID)

It is an international arbitration institution which facilitates arbitration and conciliation of legal disputes between international investors.

It was established in 1966. It was established as a multilateral specialized dispute resolution institution to encourage international flow of investment and mitigate non-commercial risks.

United Nations Commission on International Trade Law

(UNCITRAL)

It was established by the United Nations General Assembly in 1966.

It is the core legal body of United Nations system in field of international trade law.

It is a legal body with universal membership specializing in commercial law reform worldwide for over 40 years.

Today it is one of the global institutions that is referenced in solving many disputes.

As it is seen, it is in London and it was established in 1883.

Although it is London centered, in our day the parties/sides of 80% of solved disputes through LCIA is not British citizens. This shows that LCIA is active in international disputes, too.

London Court of International Arbitration (LCIA)

Today international trade relations are increasing rapidly and therefore conflicts are also increasing in trade life. It is a fact that those conflicts are started to be solved through arbitration rather than jurisdiction of states.

Solving international conflicts through arbitration brings about an objective application, faster progress in proportion to state jurisdiction, and provides efficient solution mechanisms.

http://www.internationalarbitrationlaw.com/

http://www.ongurergan.av.tr/tr-TR/UluslararasiTahkim.html

http://www.uncitral.org/uncitral/en/about_us.html

http://www.antimai.org/kitap/tahkim.htm

http://en.wikipedia.org/wiki/International_arbitration

Sources