Abstract:

In international commerce, parties frequently use international arbitration to obtain a final decision on their dispute. In principle, the arbitral award is final. However, national laws also provide the setting aside procedure as a recourse mechanism against awards. This article analyses the main characteristics of setting aside action and parties’ right of waiver to initiate setting aside action under Article 15 of MTK (Turkish International Arbitration Code). The setting aside procedure is a limited and exceptional recourse mechanism in international arbitration law. MTK also recognizes the parties’ right of waiver of setting aside action. However, MTK offers a limited and, in our view, insufficient legal protection when parties try to enforce the award in Turkey despite the waiver agreement. In our paper, we propose a solution after studying Swiss and French international arbitration laws.

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