Uyuşmazlıkların çözümünde alternatif olarak uluslararası ticari tahkim ve Türk yargı sistemindeki rolü

Globalization has been leading to enormous changes in the world order and economy.Global market economy needs a legal system to define and protect the rights of bothnational and international investors against unjust competition and jurisdiction.As one ofthe main pillar of globalization, free movement of capital and security of capital is vitalfor the international investors. Legal aspect of securitization of capital is very significantespecially when a dispute arise between foreign investors and state due to mistrust tolocal courts and complexity of the legal system. Hence, international commercialarbitration became an alternative dispute settlement mechanism. In this study, afterintroducing milestones for the development of international commercial arbitration in20th century, main features and international arbitration institutions and their rules arefocused to demonstrate international structure and arbitration models. On the basis ofinternational dimension of the issue, the role and function of international commercialarbitration in Turkish Judiciary System is elaborated through focusing on Constitutionalamendments, laws and legal interpretations. While concentrating on Turkish legalsystem, concession agreements will mainly stressed through some cases. In this study,concept of public interest and debate on ?foreign element? are also covered.Key Words: Arbitration, Globalization, Legal Security of Capital, TurkishArbitration System