Arbitration Agreement Mistakes

Arbitration, as an effective alternative dispute resolution mean, is actively used by parties to legal relations, in particular by foreign investors. An arbitration agreement is a prerequisite for arbitration and is essential for arbitration to take place. The content and correctness of the agreement largely determines arbitrability of a dispute. Therefore, a proper arbitration agreement draft is a crucial task at the contractual or separate document stage when a dispute is to be submitted to arbitration.

In practice, many problems with arbitration are due to the lack of awareness of the nature, role, and operation of arbitration. In the Republic of Kazakhstan, arbitrations may exist in the form of arbitrations formed specifically to deal with a particular dispute ("ad hoc arbitrations") or as permanent institutional arbitrations. The International Arbitration Centre under the Astana International Financial Centre is of particular interest, which is not subject to