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Advantages of Arbitration
Flexibility, independence and speed: why arbitration is the best choice for resolving commercial disputes.
How arbitration helps your business
Arbitration is an effective mechanism for resolving civil disputes that gives the parties flexibility, independence and speed of decision-making. Unlike court proceedings, arbitration offers a number of advantages that make it the best choice for entrepreneurs and organisations.
In Kazakhstan, civil-law disputes are successfully resolved by the "Atameken" Arbitration Center at the National Chamber of Entrepreneurs of the Republic of Kazakhstan.
Key advantages of the "Atameken" Arbitration Center
Choice of law and arbitrators
If one of the parties to a contract is a non-resident, the parties may determine which state's law will apply to disputes. The parties then independently choose arbitrators with the required expertise in the specific industry.
Saving time and money
Arbitration takes less time than court litigation and allows the parties to set the time, place and format of hearings more flexibly. Arbitration fees are lower than state court duties.
Confidentiality
Unlike state courts, arbitration hearings are held in closed sessions with the parties only. Information about the proceedings and details of the dispute is not disclosed. The final award is not published or posted online.
Finality of the award
Arbitral awards are not subject to review on the merits in state courts, which excludes lengthy appeal processes. Awards are enforceable from the moment they are rendered, both in Kazakhstan and abroad.