ISTAC ARBITRATION IS AN ALTERNATIVE FOR PUBLIC PROCUREMENT AGREEMENT DISPUTES

24.10.2018

 

The Turkish Public Procurement Authority recently amended the Regulations on the Implementation of Public Procurements effective as of 19 January 2018.

According to the amendment, instead of referring to Turkish courts, public administrations may choose arbitration for disputes arising out of the execution of a procurement agreement. The Istanbul Arbitration Centre (ISTAC) will conduct domestic arbitrations; for international arbitrations, public administrations can choose between ad hoc arbitration wherein the Turkish International Arbitration Law No. 4686 is applied and ISTAC arbitration.

ISTAC is nowadays more popular and within the contracts ISTAC is more usable since arbitration within the perspective of national rules and procedures is found more effective and promising than public Courts.  

Resource          :https://globalarbitrationnews.com/turkey-istac-arbitration-is-now-an-alternative-for-public-procurement-agreement-disputes/