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Results: 4 Answers
International Arbitration
10.
Costs
10.1
How will the tribunal approach the issue of costs?
 
Turkey
Costs of arbitration regulated under art. 16 of TCIA. Pursuant to this provision, parties are free to the decide which costs shall be borne by the which party. Unless otherwise agreed by the parties, the costs of arbitration shall be borne by the losing party. In case parties' claims are partially accepted in the arbitral award, the costs will be calculated considering the degree of the rightfulness of their claim.

The Arbitral tribunal shall indicate the costs of the arbitration in the arbitral award and as per art. 16/d of the TCIA and the costs includes the fees of the arbitrators, travel and other expenses of the arbitrators, fees of the experts or other parties whose assistance is sought and who are, collectively, appointed by arbitral tribunal, the costs for the site inspection, travel expense or other expenses of the witnesses on the condition that the tribunal approves, attorney fee of the prevailing party determined by the arbital tribunal and calculated conspiring the minimum fee schedule, fees required for the applications to the courts and the expenses of notifications concerning the arbitral proceeding.

If the parties cannot reach an agreement about the fees of the arbitrators, the fees of the arbitrators will be determined between the arbitral tribunal and the parties considering the amount in dispute, the nature of the dispute and the term of arbitral proceedings. The parties also can make a reference to the international rules or institutional arbitration rules to determine the fees. If the condition that there is no solution for determining those fees methods which mentioned above, the schedule of fees determined annually by the Ministry of Justice can also be referable.

For more information about this answer please contact: Levent Çelepçi from Schoenherr Attorneys at Law
10.2
Are there any restrictions on what the parties can agree in terms of costs in an arbitration seated in your jurisdiction?
 
Turkey
There are no restrictions on what the parties can agree in terms of costs in an arbitration.

For more information about this answer please contact: Levent Çelepçi from Schoenherr Attorneys at Law