About the IAC
The IAC provides an independent and expeditious alternative to court litigation and operates to the highest international standards to resolve civil and commercial disputes in the AIFC. It has its own panel of world leading arbitrators and mediators comprising global reputations for absolute independence, impartiality, integrity, unconditional application of the rule of law, and incorruptibility. Arbitration awards of the IAC may be enforced within the Republic of Kazakhstan as Court Orders of the AIFC Court and enforcement is supported by a robust enforcement system. The IAC operates from permanent state of the art administrative facilities, including leading IT, conference, meeting, and hearing rooms, at “IAC Chambers” which are located at the IAC EXPO-2017 premises in Nur-Sultan. The arbitrators, mediators, procedures, practices and standards at the IAC will be familiar to businesses currently operating in major financial centres around the world.
MODEL ARBITRATION CLAUSE
“Any dispute, controversy, difference or claim, whether contractual or non-contractual, arising out of or in relation to this Agreement, including its existence, validity, interpretation, performance, breach or termination, shall be referred to and finally resolved by arbitration administered by the International Arbitration Centre of the Astana International Financial Centre (“IAC”) in accordance with the IAC Arbitration and Mediation Rules in force on the date on which the Request for Arbitration is filed with the Registrar of the IAC, which Rules are deemed to be incorporated into this clause.“
ADDITIONAL PROVISIONS:
[The parties are free to adapt the clause to their particular circumstances, for example the parties may also wish to stipulate in the arbitration clause]:
1. APPOINTMENT OF ARBITRATORS
The number of arbitrators shall be [one/three].
[In the event of a sole arbitrator: The arbitrator shall be appointed by agreement of the parties. If the parties have not agreed on the appointment of an arbitrator within [10]* days of the [Commencement Date** notified to the parties by the Registrar of the IAC]. At the request of one of the parties, the Chairman of the IAC will appoint the arbitrator.]
-OR-
[In the event of a three person tribunal: Each of the parties (or co-parties in circumstances where there are more than two parties) shall appoint an arbitrator within [10]* days of the [Commencement Date notified to the parties by the Registrar of the IAC]. The party-appointed arbitrators shall appoint the presiding arbitrator, in consultation with the parties, no later than [20]* days following the Commencement Date. In the event that the appointment of an arbitrator (including the presiding arbitrator) is not made by that time, then, at the request of any of the parties, the Chairman of the IAC will appoint the remaining arbitrator(s).]
2. SEAT OF ARBITRATION AND APPLICABLE LAW
The seat of the arbitration will be [insert City and / or Country]. The law governing the arbitration proceedings shall be the law of the seat.
3. LANGUAGE OF THE ARBITRATION
The language of the arbitration proceedings shall be [insert chosen language].
4. LAW GOVERNING THE AGREEMENT
The governing law of this Agreement shall be the substantive law of [insert country].***
5. QUALITIES OF THE ARBITRATORS
The arbitrators shall have the following qualities:****
[Specific or excluded nationalities]
[Qualifications, e.g. lawyer, experience in oil/gas/construction/other, accountant, engineer etc.]
[Fluency in the language of the arbitration]
Notes:
* The parties may agree to adjust these time limits.
** The Commencement Date is defined in Article 4.7 of the IAC Rules 2018.
*** To be used in the event that there is no governing law clause in the agreement.
**** See Article 8.5 of the IAC Rules 2018.
The parties to the Agreement should ensure that the Agreement contains a clause to the effect that this Arbitration Clause will survive the termination, repudiation, invalidation, expiry, or frustration, of the Agreement as a whole.
MODEL MEDIATION AND ARBITRATION CLAUSE
“Any dispute, whether contractual or non-contractual, arising out of or in relation to this agreement, including any question regarding its existence, validity or termination, may first be submitted to mediation at the AIFC International Arbitration Centre (“the IAC”) under its Arbitration and Mediation Rules 2018. If the dispute is not resolved by mediation, then the parties shall refer the dispute to arbitration at the IAC. In that case, then [insert text from model IAC arbitration clause].”
Example
Any dispute, controversy, difference or claim, whether contractual or non-contractual, arising out of or in relation to this Agreement, including its existence, validity, interpretation, performance, breach or termination, shall be referred to and finally resolved by arbitration administered by the International Arbitration Centre of the Astana International Financial Centre (“IAC”) in accordance with the IAC Arbitration and Mediation Rules in force on the date on which the Request for Arbitration is filed with the Registrar of the IAC, which Rules are deemed to be incorporated into this clause, to the exclusion of the jurisdiction of any other courts. At the request of one of the parties, the Chairman of the IAC will appoint the arbitrator. The seat of the arbitration will be London. The law governing the arbitration proceedings shall be the law of the seat. The language of the arbitration proceedings shall be English. The governing law of this Agreement shall be the substantive law of England and Wales.
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Resources
IAC Model Clauses – English, Kazakh, Russian.pdf