ITOTAM (ISTANBUL CHAMBER OF COMMERCE ARBITRATION AND MEDIATION CENTER)
The Istanbul Chamber of Commerce (ICOC) has been providing arbitration services for its members through its Arbitration Bureau since 1979. The Istanbul Chamber of Commerce has played a key role in promoting arbitration over the years. In order to provide arbitration services parallel to international practice and aligned with modern arbitration rules, ICOC as of 2014 completed its work on setting up its autonomous arbitration centre and on drafting the New Rules.The ITOTAM Arbitration Rules was approved by the Assembly of ICOC on 16 October 2014.
In drafting the Rules, the UNCITRAL 2010 Arbitration Rules and other modern arbitration rules such as ICC Arbitration Rules (2012), VIAC Rules of Arbitration, Swiss Rules of Arbitration have been taken into consideration. The Arbitration Court and the Arbitration Centre are the only bodies empowered to administer these Rules.
Parties wishing to have recourse to ITOTAM arbitration are encouraged to include an appropriate dispute resolution clause in their agreements.
As of 14.04.2016 Emergency Arbitrator Rules (Annex III) and Arbitration Rules for Small Claims (Annex IV) have entered into force and ITOTAM Arbitration Rules have been revised accordingly.
As of 2017 ITOTAM Mediation Rules have been adopted and ITOTAM started to provide mediation service.
Accordingly, the name of ITOTAM was changed to Istanbul Chamber of Commerce Arbitration and Mediation Center and necessary revisions are made to the rules accordingly. The current Rules are the ITOTAM Arbitration Rules of 2017.
Arbitration, as a widely preferred method of dispute resolution, is of great importance in contemporary commercial life. Our members or firms doing business with our members could ensure a great level of certainty as to the resolution of their potential disputes by inserting the model arbitration clause enclosed in our booklet in their contracts in order to solve their disputes in a rapid and efficient way.
MODEL ARBITRATION CLAUSE
Any dispute or claim arising out of or relating to this contract, or the breach, termination or invalidity thereof, shall be finally settled by arbitration in accordance with the Rules of Arbitration of the Istanbul Chamber of Commerce Arbitration and Mediation Centre (ITOTAM).
PARTIES SHOULD CONSIDER ADDING THE FOLLOWING CLAUSES BELOW:
a. The language of arbitration shall be ...............
b. The applicable substantive law shall be .........
ARBITRATION WITHOUT EMERGENCY ARBITRATOR
If the Parties do not want the Emergency Arbitrator Provisions to apply, may add the clause below:
The Emergency Arbitration Rules shall not apply.
For more information about ITOTAM arbitration and mediation services please visit www.itotam.com