ICC Arbitration encompasses over 170 countries, including Türkiye, and is one of the most frequently referenced dispute resolution mechanisms. Thus, the International Court of Arbitration has been assisting in resolving the challenges in international commercial and investment disputes since 1923 to support trade and investment.
The ICC International Court of Arbitration is not actually a court but the world’s leading arbitration institution. It plays a significant role by offering various customizable services to individuals, businesses, and governments at every stage of their disputes. Although it is called a court, it does not conduct formal judiciary proceedings on disputed matters. Instead, it applies judicial supervision over arbitration proceedings.
Its responsibilities are generally as follows:
- Approving, appointing, and changing arbitrators and deciding on challenges against them,
- Monitoring the arbitration process to ensure it is conducted with the appropriate speed and efficiency,
- Reviewing and approving all arbitration decisions to enhance quality and applicability,
- Adjusting, managing, and if necessary, revising fees and advances,
- Supervising preliminary proceedings before the start of arbitration.
Everyone can benefit from the flexibility and efficiency of ICC Arbitration. The only requirement for a party to benefit from ICC Arbitration is their consent to its use in a contract.
Development of ICC Arbitration Rules
Since its inception, there have been thirteen editions of the ICC arbitration rules (including revisions and amendments). Although the version of the ICC arbitration rules before the amendments is largely academic, some rules are already applied in the practical field. Examples include:
- 1975 ICC arbitration and arbitration rules (in English),
- 1988 ICC arbitration and arbitration rules (in English),
- 1998 ICC arbitration rules (in English),
- 2012 ICC arbitration rules (in English),
- 2017 ICC arbitration rules (in English).
In this context, as these rules continue to evolve, we recommend seeking support from lawyers who are familiar with these rules and provide consultancy services to globally operating companies.
