The AIFC Court and IAC held a conference with the Republican Public Association “International Mediation Centre”
The AIFC Court and IAC held a conference with the Republican Public Association “International Mediation Centre” on the subject “Providing security guarantees for investments of foreign and domestic investors and performance of contractual obligations in business”.
Participants discussed the introduction of alternative methods of dispute resolution in the field of investment and business. The meeting was attended in person with senior business leaders of Kazakhstani organisations and investment companies.
The AIFC Court and IAC have resolved more than 2,100 cases via arbitration and mediation and have been included as the number one choice for commercial dispute resolution in Eurasia in more than 7,500 business contracts valued at more than US $2 billion. Tengizchevroil, NCOC, Shell, and numerous other corporations, have included the AIFC Court and IAC in contracts. The AIFC Court and IAC continue to contribute to the development of the AIFC and the Republic of Kazakhstan as the trusted investment hub in Eurasia.
The Astana International Financial Centre (AIFC) is an independent jurisdiction that started operations in 2018. In accordance with the Development Strategy until 2025, the key focus of the AIFC is to consolidate as a universal platform connecting the countries of the EAEU, Central Asia and the Caucasus. www.aifc.kz
The AIFC Court is an independent legal entity. It has its own procedural rules modelled on English common law procedures and leading international practice. The AIFC Court is separate and independent from the courts of the Republic of Kazakhstan. It consists of two tiers: a Court of First Instance, which includes a specialist division known as the Small Claims Court; and a Court of Appeal. It has exclusive jurisdiction over disputes arising out of the activities and operations of the AIFC and jurisdiction in the case of other disputes in which all parties agree in writing to give the AIFC Court jurisdiction. It does not have jurisdiction in relation to disputes that are of a criminal or administrative nature. It applies the most up to date and efficient case management practices. https://court.aifc.kz/
The International Arbitration Centre (IAC) is an independent legal entity. It has its own procedural rules modelled on best international practice. It has its own panel of leading international arbitrators and mediators having many years of arbitration and mediation experience in commercial law, including oil and gas, trade, construction, energy, financial services, banking, Islamic finance, insurance, and intellectual property. IAC arbitration awards are recognised and enforceable in Kazakhstan and internationally. https://iac.aifc.kz/