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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
