Banking & Finance
Arbitration becomes a part of the strategic options for the disputes that may arise from cross-border banking and financial transactions. For instance, some organised exchanges refer to arbitration as a method of resolving disputes related to market transactions. Besides, trade, export and project finance contracts/documentation sometimes contain arbitration clauses, especially regarding state instrumentalities in the developing countries.
Complexity and sophistication of financial market as well as the experiences gained from the financial crisis of 2007/2008, the Corona crisis and Brexit prove that there is a huge potential for arbitration as a significant alternative to dispute resolution by domestic courts. The grounds which banks and other financial institutions have commonly asserted against the use of arbitration for the resolution of their back to back disputes are no longer valid today.
Özcan Legal assists its clients in their banking and finance transactions especially with respect to selecting the right dispute resolution that would be appropriate for the nature of each transaction. Our team also works closely with its clients to determine the pre-arbitral procedures in order to prevent any dispute at an early stage as possible. However, in case where a dispute arises, Özcan Legal acts as a counsel in the arbitration proceedings to protect the interests of its clients and to get the best result at the end of this dispute resolution process.
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