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Results: 4 Answers
International Arbitration
12.
Award
12.1
What procedural and substantive requirements must be met by an award?
 
Turkey
As per art. 14 of the TCIA, the award shall contain:

  • Full names, titles and addresses of the parties and their representatives and lawyers if any;
  • Legal reasons the award is based; the amount of compensation if it is requested so
  • Place of arbitration and the date of the award
  • The name, signature and dissenting option of the arbitral if any
  • A statement that parties may set aside the award.

In addition to these characteristics of the award; an award should;

  • Be rendered in accordance with the procedure agreed by the parties or stipulated by TCIA,
  • Be rendered in due time in accordance with the procedure agreed by the parties or stipulated by TCIA,
  • Be rendered as per the scope of arbitration agreement and be rendered regarding the whole request,
  • Be rendered considering equality of the parties,
  • Not be rendered in conflict with the public policy.
For more information about this answer please contact: Levent Çelepçi from Schoenherr Attorneys at Law
12.2
Must the award be produced within a certain timeframe?
 
Turkey
As per art. 10/B of the TCIA, unless otherwise agreed, an award must be granted within one year. In the event of a sole arbitrator, this one-year period starts on the date of his appointment whereas in the event of an arbitral tribunal, this period starts on the date of the first tribunal’s meeting.

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