Communique On The Istanbul Arbitration Center (‘‘ISTAC'')

The Communiqué No: 2016/25 on ISTAC, published in the Official Gazette dated 19 November 2016 and numbered 29893, highlights the significance of the ISTAC and introduces latter to public-sector users, along with underlining advantages of arbitration.

ISTAC, established by Law No: 6570, has become operational and administers arbitration disputes that are of domestic and international character. Moreover, the Center also provides educational services on the practice of arbitration to all stakeholders, including the public bodies.

It is also stated that ISTAC Arbitration and Mediation Rules creates a modern, efficient, flexible and confidential framework for arbitral procedures that is also cost-effective and aligned with international standards.