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Arbitration at the CCI of RK |
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The International Arbitration Court and the Arbitral Tribunal at the Chamber of Commerce and Industry of the Republic of Kazakhstan are the legal successors of the Arbitration Commission established on October 5, 1993. The International Arbitration Court and the Arbitral Tribunals at the CCI of RK are one of the basic permanent Arbitration (Arbitral Tribunal) courts in Kazakhstan called upon to adjudicate foreign trade disputes and disagreements arising from the implementation of foreign trade or other forms of international economic relations. The work of International Arbitration Court and Arbitral Tribunal shall be organized in accordance with their Rules, arbitration cost provisions or other judicial documents, which exactly conform to the national law norms.
It is common between entrepreneurs to submit disputes to the arbitration (Arbitral Tribunals) established by the business entities or organizations combining them. In the world practice this function is fulfilled by the courts of Chambers of Commerce and Industry, for instance, the International Arbitration Court at the Chamber of Commerce and Industry, Arbitration Institute of the Stockholm Chamber of Commerce, International Commercial Arbitration Court at the Russian Federation Chamber of Commerce and Industry, etc. The advantages of International Arbitration Court and Arbitral Tribunal at the CCI of RK are as follows:
- Simplified procedure of consideration of disputes
- Promptness and economy of process
- Impartiality and objectiveness in the settlement of disputes
- Decision of Arbitration Court (Arbitral Tribunal) is final
- Flexible system of payment of Arbitration Court (Arbitral Tribunal) fees
- The parties choose an arbitrator (judge) independently
- Guarantee of confidentiality of Arbitration Courts (Arbitral Tribunal) hearings
- Possibility for the parties to choose the location and time for dispute consideration convenient for them.
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CUSTOMS UNION
FIID PROGRAMME
Project - Stre To
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