The Communique No: 2016/25 on ISTAC, published in the Official Gazette dated 19 November 2016 and numbered 29893, highlights the significance of the ISTAC and introduces latter to public-sector users, along with underlining advantages of arbitration.
ISTAC, established by Law No: 6570, has become operational and administers
arbitration disputes that are of domestic and international character. Moreover,
the Center also provides educational services on the practice of arbitration to
all stakeholders, including the public bodies.
It is also stated that ISTAC Arbitration and Mediation Rules creates a
modern, efficient, flexible and confidential framework for arbitral procedures
that is also cost-effective and aligned with international standards.
While explaining other prominent benefits of arbitration for future
contracts that a Turkish public body is a party to, the Communique takes a
further vital step and invites public bodies and other establishments to prefer
arbitration over litigation and other dispute resolution methods in order to receive
a fast, cost-effective and independently and impartially rendered outcome.
Above all, with this essential and on-time Communique published by the
Prime Minister’s Office, it is undeniable that seas of arbitration will be once
more explored by the stakeholders from Turkish public organizations. In this
respect, it would be an accurate and fair assessment to expect an increase in
the statistics of the ISTAC in 2017 and upcoming years.
For further information on arbitration or Turkish arbitration practice, you may
contact us at info@guzeloglu.legal