The Concept and Nature of Arbitration with power of Peace

Article 483 of the Code of Civil Procedure gives the arbitrators the right to terminate the arbitration peacefully if the parties to the dispute expressly consent. There is disagreement among jurists about the nature of arbitration; most jurists consider arbitrary arbitration to be a kind of friendly arbitration; but in fact, the legislature has allowed the arbitrator to enter into a peace treaty. Under this right, the arbitrator acts as the representative of the parties in accordance with the general terms of the contracts and the terms of the peace agreement; the result of his work is a peace treaty that is concluded between the parties. As a result, arbitrary arbitration is of a different nature from friendly arbitration. In this study, an attempt has been made to reveal the true nature of arbitration with the authority of peace and to clarify the meaning of Article 483 of the Code of Civil Procedure to determine the scope of duties and functions of the arbitrator.