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INCOTERMS

INCOTERMS Av. Deniz Bahadır        1. Introduction Incoterms are a series of pre-defined commercial terms that have been issued by the International Chamber of Commerce (ICC) relating to international commercial transactions[1] since 1930. Since then, the ICC tends to revise the rules within the first year of every decade. The Incoterms usually consist of 3 letters which are aimed to primarily clarify the risks, costs, and tasks regarding international transportation and the delivery of goods. The main objective of Incoterms is...

Specific Performance in International Arbitration

SPECIFIC PERFORMANCE IN INTERNATIONAL ARBITRATION Attorney Gökberk TEKİN   Introduction Arbitration is often perceived as a process by which the parties seek monetary damages.[1] However, the number and variety of the remedies available for the parties in international arbitration are very broad, indeed.[2] In this context, in addition to the monetary compensation, an arbitral award may (and often does) also include “punitive damages and other penalties, specific performance and restitution, injunctions, declaratory relief,...