MÜSİAD to assign its own arbitrators for entrepreneurs

According to a new memorandum of understanding signed between the Justice Ministry and the Independent Industrialists' and Businessmen Association (MÜSİAD), one of the leading business associations of Turkey, lawyers who are also members of the association, will resolve conflicts and issues between MÜSİAD members without applying to the court. Arbitration is a common system, which is implemented in 160 countries. MÜSİAD President Nail Olpak said that their aim is to reduce the workload of the judiciary, and arbitration is a way that does not include losing parties. Olpak added that it is also less expensive and faster. MÜSİAD will select some lawyers from among its members, who are also businessmen and law firm owners, to acquire the legal information and authorization from the ministry. These lawyers will act as arbitrators to solve the conflicts that businessmen and businesswomen have with their agreements, contracts and other related matters.