The Prime Ministry of Turkey (“Prime Ministry”) has encouraged public institutions and organizations to use the Istanbul Arbitration Centre (“ISTAC”) for dispute resolution in local as well as international agreements. The Ministry emphasizes that the ISTAC Arbitration and Mediation Rules were drafted in line with international standards, providing settlement for disputes in an efficient, objective, flexible, and confidential manner, which is also swift and cost-effective.
The Prime Ministry noted that arbitral awards by the ISTAC are definite, and can be enforced without an appeal process. It also stated that the ISTAC provides trainings and guidance services regarding arbitration.
The Prime Ministry published Circular No. 2016/25 in Official Gazette number 29893 on 19 November 2016. Please see this link for the full text of the Circular (available only in Turkish).
Information first published in the MA | Gazette, a fortnightly legal update newsletter produced by Moroğlu Arseven.