How Are the Arbitration Fees Charged by These Arbitral Institutions Usually Priced in Turkey?
According to the Turkish Law, unless otherwise agreed by the parties, the fees of the arbitrators shall be agreed between the arbitrator or the arbitral tribunal and the parties, taking into account the amount of the claim, the nature of the dispute and the duration of the arbitration proceedings.
Arbitration fees are charged based on the fee policy of the applying institution.
Most of the arbitration institutes charge fees based on the dispute amount and the relevant expenses – such as expertise costs or injunction requests -.
It is beneficial to ask for the arbitral fees before applying to the relevant arbitral institution.
Contributor: Emre Aslan
Position/Title: SENIOR LAWYER
For more posts contributed by Emre Aslan and ANTROYA DEBT COLLECTION & LAW OFFICE, please click here.
The Q&A Global is a special column run by CJO Global, and serves as a knowledge-sharing platform to facilitate peer learning and networking, and to provide the international business community with a global landscape of this industry. This post is a contribution from Antroya Debt Collection & Law Office. Antroya, headquartered in Istanbul, Turkey, has been working in the field of debt recovery dating back to 2005. They work with the world’s leading financial services companies and groups, who have the global largest network in International Receivables, and they are a member of several world's leading debt recovery networks.