216 / 516
Pursuant to Article 443 of the CPC, provisions on the new trial
which is an extraordinary legal remedy shall be applied, as long as they
are suitable for the arbitration.
Conclusion
The provisions of the CPC governing arbitration aim at indepen-
dent, impartial and accelerated proceedings, by taking current arbitra-
tion practices into consideration. The fact that the grounds for annul-
ment of arbitral awards are limited increases confidence to arbitral
awards.
Even though the provisions of the CPC are greatly influenced by
the International Arbitration Act numbered 4686 (“IAA”), CPC does
not regulate the terms of reference, unlike the IAA, which may be crit-
icized. The terms of reference are of great importance since it confirms
the arbitration agreement between the parties on one hand, and on the
other hand, it reflects the agreement of the parties as per the issues
regarding the procedure to be followed in arbitration proceedings.
As indicated in our previous article, given the material similarities
between the IAA and the CPC, it would be appropriate to regulate the
national and international arbitration by summoning the provisions in
one code, in order to overcome discrepancies with respect to the scope
of application of the relevant laws.
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