ARBITRATOR’S FEES REMAIN UNCHANGED FOR ANOTHER YEAR:

The Communique on Tariff of Fees for International Arbitration (the “Communique”) issued by the Ministry of Justice has been published in the official gazette on March 8, 2016.

COURT OF APPEAL OPENS DOOR FOR CHEAPER COURT FEES ON ENFORCEMENT ACTIONS:

TURKEY, BEING PARTY TO THE NEW YORK CONVENTION OF 1958 AND HAVING BILATERAL AGREEMENTS OR RECIPROCITY WITH MANY COUNTRIES, IS A RELATIVELY CONVENIENT JURISDICTION TO ENFORCE FOREIGN ARBITRATION AWARDS OR COURT JUDGMENTS.

MOST RECENT AMENDMENTS TO THE TURKISH COMMERCIAL CODE (11 APRIL 2013):

THE LAW NUMBERED 6455 REGARDING AMENDMENTS TO THE CUSTOMS LAW AND OTHER LAWS AND STATUTORY DECREES (“LAW NO 6455”) ENTERED INTO FORCE ON 11 APRIL 2013 AMENDING SOME PROVISIONS UNDER THE TURKISH COMMERCIAL CODE NUMBERED 6102 (“TCC”).