Article 4. Types of arbitration of the Arbitration Law

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1. Arbitration courts in the Republic of Kazakhstan may be established in the form of permanent arbitration or arbitration to resolve a specific dispute.

2. Permanent arbitrations may be formed by individuals and (or) legal entities in accordance with the legislation of the Republic of Kazakhstan.

The permanent arbitration approves the rules of arbitration, the register of arbitrators who will carry out activities in this arbitration.

3. Arbitration for the consideration of a specific dispute is established by the parties to resolve the dispute and is valid until the dispute is resolved or until the parties decide to refer the dispute to the court.

4. Arbitrations in the Republic of Kazakhstan may not be formed by state bodies, state-owned enterprises, as well as subjects of natural monopolies and subjects occupying a dominant position in the market of goods and services, legal entities, fifty or more percent of voting shares (participation shares in the authorized capital) of which are directly or indirectly owned by the state, their subsidiaries and affiliates organizations, as well as second-tier banks, organizations engaged in certain types of banking operations, and organizations engaged in microfinance activities.

The requirements of part one of this paragraph apply to collection agencies for assigned rights (claims) under bank loan agreements or microcredit agreements.

The Law of the Republic of Kazakhstan dated April 8, 2016 No. 488-V SAM.

This Law regulates public relations arising in the course of arbitration activities in the territory of the Republic of Kazakhstan, as well as the procedure and conditions for the recognition and enforcement of arbitral awards in Kazakhstan.

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