Dear/ members of the Chamber
Asharqia Chamber presents you with the best greetings and would like to inform you of the letter of the Council of Saudi Chambers No. (1814) dated (20/7/1440), which referred to the cable of the Ministry of Commerce and Investment No. (31860) dated (11/7/1440) that is attached to the Foreign Ministry's cable number (158265-40-001) dated (28/6/1440 AH) that is including that the Istanbul Chamber of Commerce announced the provision of the service "commercial mediation" in cases of financial disputes after the entry into force of a Turkish law that requires the use of mediation before going to court for trial over any commercial dispute.
As of the beginning of January 2019, a law was introduced which makes mediation a prerequisite for trade disputes to take effect.
Under this law, recourse to mediation to resolve trade disputes will be necessary before proceeding to the courts.
If this is not the case, the concerned court will reject the request for trial pending the fulfillment of this condition.
In this regard, the Istanbul Chamber of Commerce announced its readiness to receive requests for commercial mediation through its Arbitration and Mediation Center.
Disputes falling within the scope of this Law shall include all disputes concerning money and other disputes stipulated in the said mediation law.
According to Istanbul Chamber of Commerce, the parties that resort to its center for mediation in trade and financial disputes can reach a result within six weeks from the date of its review of the Center.
The Chamber stated that this period is defined by the Turkish laws and can be extended only in the necessary cases by the same mediator and for a maximum of two weeks.
Regarding the fees of the mediation, Istanbul Chambers of Commerce explained that the determination of the fare is according to the content of the invitation and its value according to the provisions of the law in question, in addition to paying fees for the "Arbitration and Mediation Center of Istanbul Chambers of Commerce" that worth 300 TL.
The parties to the dispute may attend the mediation sessions themselves or through their lawyers and legal representatives, and if the parties do not obtain a result at the end of the mediation, the courts are referred to resolve their dispute and are accompanied by a document proving that they have been taken for mediation without obtaining a result.
