When conducting an investment and/or commercial arbitration, one must define typical phases and after these phases plan can be finalized on other details of the case. Since planning and being ready for an arbitration proceeding is crucial, drafting your case beforehand will be useful.
At first, there is an agreement between the parties, and generally agreements that have an alien/ foreign element includes an arbitration clause or a separate arbitration agreement. It must be double-checked whether or not arbitration agreement is valid and binding in order to eliminate the risk of jurisdictional objection. Agreement must be carefully drafted in regards to arbitration clause, governing law of the agreement and also arbitration clause.
In case there is a dispute claimant or respondent must prepare Request for Arbitration and answers/ counter-claims against it, respectively. Evidences must be prepared before the dispute arises.
Once Request for Arbitration is submitted to secretariat of the specified institution in arbitration agreement, secretariat will conduct a prima facie examination on the case. If the secretariat’s examination results with acceptance, arbitral proceedings will begin.
Whether or not being a claimant or respondent, institutions will be administering the proceeding and when arbitral tribunal is constituted, there will be a procedural timetable that shows the steps of the proceeding.
Written stage includes communication between parties and the tribunal, explaining the claims and defenses against the claims, production of documents, disclosure of evidence and other necessary documents for tribunal to conduct the case.
In oral stage there will be a hearing, and fact witnesses and expert witnesses will be heard if needed, after the written stage.
After written and oral stages, there will be a decision given by arbitral tribunal which will be governed by institution’s rules on decision’s components and general principles.
Last stage will be enforcement and recognition of the award or annulment of the award.
Mehmet Tuğberk Dekak