Modern Trends in Arbitration Rules and National Law · Rules and National Law Prof. Dr. Ziya AKINCI...

Modern Trends in Arbitration Rules and National Law

Prof. Dr. Ziya AKINCI Istanbul Arbitration Centre (ISTAC)

Akıncı Law Office

Emergence of Regional Arbitration Centres❑ Istanbul Arbitration Centre (ISTAC) • In operation since 26 October 2015 • Modern Rules • Competitive cost & fees scales • Already attracted cases

❑ Qatar International Centre for Conciliation and Arbitration (QICCA) • Established in 2006 • Modern Rules • One of the most common arbitration centres referred to by parties

Cross-Border Cooperations❑ Cooperation agreements • Mutual Promotion of arbitration centres

❑ Cross Institutional Consolidation Protocol • Arbitration in Different Centres and Consolidation • Cost & time savings for the parties • How to consolidate

Trend of Transparency❑ Publication of the name of arbitrators • ICSID practice • ICC Arbitration cases since 1 January 2016 • Appointment method & updates

❑ Information on the availability • ICC, ISTAC

Technology and Online Facilities❑ Online Request for Arbitration • ISTAC, QICCA, LCIA …

❑ Paperless Arbitration • File sharing (FTP servers, Cloud, Google drive) Virtual data room, Online document repository

❑ Meeting & Hearing technologies • Video conferencing, • Life transcripts, • Virtual hearing rooms

Speed & Cost & Efficiency❑ Fast-Track Arbitration Rules • Swiss Rules, VIAC, DIS, SCC, HKIAC, SIAC, CIETAC, ISTAC, ICC Expeditious Procedure Provisions …

❑ Emergency Arbitrator Rules • ICDR, HKIAC, SIAC, SCC, LCIA, ICC, Swiss Rules, ISTAC, TRAC …

Good

CheapFast

Faster Award Making

• Awards to be drafted within 3 months after the last substantive hearing or written submissions

• If not arbitrators’ fees may be lowered: • up to 7 months, the fees are reduced by 5 to 10%. • up to 10 months, the fees are reduced by 10 to 20%. • more than 10 months, the fees are reduced by 20% or more.

Scrutiny of the arbitral award❑ Conducted by the ICC and SIAC

• To ensure quality & enforceability of the award

• Time effect (2 to 4 weeks) • Cost effect • Independence

Thank you!

Prof. Dr. Ziya AKINCI akinci@istac.org.tr

ziya@akincilaw.com