Arbitration of commercial disputes in the Republic of Kazakhstan and Europe: Issues of theory and practice

Issue 55, 2024

Zhazira Saparbekova, Aiman Omarova, Serikkali Tynybekov, Ainur Kussainova, Dauletbay Ryskaliyev

Received 26.10.2023, Revised 19.01.2024, Accepted 08.03.2024

https://doi.org/10.54919/physics/55.2024.204di5

Abstract

Relevance. The relevance of the study is due to the need to resolve problems related to the alternative settlement of economic disputes in Kazakhstan.

Purpose. The purpose of the study is to conduct a detailed analysis of the activities of the institute of arbitration in accordance with the current legislation.

Methodology. Among the methods used, it is worth noting logical analysis, functional analysis, dogmatic, legal hermeneutics, deduction, induction, and others.

Results. The study revealed that this legal institute provides an opportunity for subjects of commercial legal relations to control dispute resolution independently; it also has a number of advantages in comparison with state judicial instances. The main organisations that implement arbitration proceedings in Kazakhstan were considered. The regulatory framework that governs arbitration in the Republic was also examined. It was noted that the main problematic aspects of the functioning of the institute of arbitration in Kazakhstan are related to the delimitation of competence, cancellation of the arbitration agreement, securing a claim, recognition and enforcement of the arbitration agreement. A comparative legal analysis of commercial dispute arbitration in Kazakhstan and Europe was conducted. In particular, the experience of such countries as Great Britain, France, Germany, Poland, Switzerland, Sweden, and others was investigated.

Conclusions. The practical value of the results obtained consists in providing recommendations that will improve the effectiveness of one of the most important legal institutes, increase the level of trust and credibility of arbitration in Kazakhstan before foreign persons, and provide a more guaranteed mechanism for ensuring the right of subjects to choose a method of resolving a commercial dispute.

Keywords: alternative dispute resolution; International Chamber of Commerce; experience of foreign countries; legislation; investments

Suggested citation

Saparbekova Z, Omarova A, Tynybekov S, Kussainova A, Ryskaliyev D. Arbitration of commercial disputes in the Republic of Kazakhstan and Europe: Issues of theory and practice. Sci Herald Uzhhorod Univ Ser Phys. 2024;(55):2045-2053. DOI: 10.54919/physics/55.2024.204di5

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