KAZAKHSTAN Law and Practice Contributed by: Sergei Vataev, Ilya Kirichenko and Yelena Dvoretskaya-Yussupova, Legit Advocates‚ Bureau
It is worth noting that, in accordance with the IAC Rules of Arbitration and Mediation, the IAC may, with the tribunal’s consent, publish any award with the names of the parties and other identifying informa - tion redacted. Where a party objects to such publication, they may apply to the tribunal for an order that the relevant award be sealed, stating the reasons why such an order is required; also, the tribunal may seal the award if its publication (even in anonymised form) would be inconsistent with the overriding objective. Generally, the award must be made by a majority vote of the tribunal members. Unless the rules specify oth - erwise, the award must be announced at the arbitra - tion session. The tribunal may specify only the opera - tive part of the award. In such cases, the reasoned decision must be sent to the parties within ten calen - dar days of the announcement of the operative part (unless another period is established by the rules or the parties’ agreement). This is the only time limit for issuing the award mentioned in the Law on Arbitration. Typically, the time limits for delivering the award are set out in the rules of arbitral institutions, but these limits usually may be extended. The award must be signed by the tribunal, and if any arbitrator’s signature is missing, the reason for the absence must be stated in the award. However, an arbitrator who disagrees with the majority decision of the arbitration panel may express their views in a dis - senting opinion, which must be attached to the award and made available for the parties to review. The dis - senting arbitrator has the right to refuse to sign the award. 10. The Award 10.1 Legal Requirements Furthermore, the Law on Arbitration lists the manda - tory elements that must be included in the award. In particular, the arbitral award must specify: (1) the date of the decision; (2) the seat of arbitration; (3) the composition of the arbitral tribunal; (4) the rationale for the tribunal’s jurisdiction; (5) the names of the par -
ties involved (surnames and initials), and the roles of their representatives, including powers of attorney; (6) the claimant’s submissions and the respondent’s objections; (7) the essence of the dispute; (8) the facts established by the arbitration, the evidence support - ing these findings, and the legal framework guiding the tribunal’s decision; (9) the tribunal’s conclusions on the acceptance or rejection of each claim; and (10) the costs associated with resolving the dispute, how these costs are allocated between the parties, and, if applicable, the timeline and procedures for enforcing the award. The requirements of the IAC are simpler. The award must be in writing and must include the date of the award and the place of arbitration, and be signed by the arbitrators (at least a majority of the arbitrators, with an explanation for the absence of any signatures; if there is no majority of signatures, the signature of the chairperson of the arbitral tribunal should suffice, provided that the decision states the reason for the others’ refusal to sign). Generally, the final award of the IAC arbitral tribunal must be issued within six months of submitting the case to the arbitral tribunal. The IAC Registrar may extend this period upon the arbitral tribunal’s request. 10.2 Types of Remedies Kazakhstan law does not specify any restrictions or bans on potential remedies. Generally, anything not explicitly forbidden by law and in line with the appli - cable civil legislation rules should be allowed. 10.3 Recovering Interest and Legal Costs As a general rule in Kazakhstan legislation, if the recovery of interest is stipulated by the parties’ agree - ment or by law, the parties may recover the relevant interest. The primary current restriction is the charging of interest (and consequently, its recovery) under loan agreements by parties that are not authorised by law to do so, as this activity is regarded as banking work and requires licensing. Regarding the costs of resolving the dispute through arbitration, they must be divided between the parties according to their agreement; if no agreement exists, they will be split in proportion to the claims that are
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