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are among the important elements that shall be included in the arbitral
award.
Pursuant to Article 437, unless a different time period is deter-
mined, the parties may, within two weeks after the receipt of the arbi-
tral award, request the correction of any error in computation, any cler-
ical or typographical error, or any error of a similar nature, or the inter-
pretation of a certain issue of part of the arbitral award.
Arbitration Costs
The arbitration costs include the costs listed under Article 441 of
the CPC. Pursuant to Article 442/1 of the CPC, the arbitrators may
request an advance payment from the parties for the costs of arbitration
if necessary. Unless agreed otherwise, the advance payment shall be
equally borne by the parties. Unless the parties agree otherwise, the
costs shall be borne by the unsuccessful party. In the event each party
is partially successful, the costs shall be allocated to parties in accor-
dance with the success of the parties. Costs of arbitration shall be spec-
ified in the award that closes the arbitral proceedings or that determines
the settlement of the parties.
Right to Appeal Against the Arbitral Award
The only right to appeal against an arbitral award is the action for
annulment and it is regulated under Article 439 of the CPC. The action
for annulment shall be initiated in the court located at the place of arbi-
tration and shall be primarily and urgently tried by the court. The
grounds for an annulment are limited to the grounds listed under the
second paragraph of the relevant article. In line with the nature of arbi-
tration as a way of dispute resolution, whether the arbitrators duly
applied legal provisions or not shall not be discussed in the action for
annulment. The action for annulment shall be initiated within one
month and unless the relevant court decides otherwise, shall be tried
based on file.
The decisions rendered, following an action for annulment may be
subject to appeal. The appeal shall be limited to the grounds for annul-
ment listed in the relevant article, and shall be primarily and urgently
decided by the court. The appeal shall not suspend the execution of the
award.
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