Tagsabusing rights Administrative barriers arbitral tribunal arbitration agreement arbtral tribunal bidding business Civil Code of the Republic of Kazakhstan employment agreement Employment and other relations Employment or commercial agreement Energy Financial Court firm name foreign investor governing law intellectual property International Financial Center Astana investment disputes Investment in Kazakhstan Kazakhstan Law of the Republic of Kazakhstan Law on Banks and Banking Activity Law on Investment Legal and regulatory acts liability of legal entities Local Content logo National currency Oil on Joint-Stock Companies Payment for corporate stock by set-off piercing of the corporate veil privatization protection of investors Risks significant investor subsoil use law Tax Code Trade trademark United Kingdom value added tax VAT VAT dereregistration of taxpayers
Category Archives: Construction & Infrastructure
Application of FIDIC templates in Kazakhstan
In its practice, Linkage & Mind has not infrequently come across applications of FIDIC templates in major construction projects in various industries. FIDIC templates were normally used where the contractor was a foreign company and/or the project was financed by international financial institutions. In this context, the Kazakhstan party quite often tried to change the structure and contents of the contract in an attempt to harmonize it as much as possible with the Kazakhstan law and practices. In the end, the contract contained a great number of amendments and exceptions to the General Terms and Conditions set out in the FIDIC templates, and the pattern of relationship between Customer and Contractor was significantly changed from the conventional pattern described in the FIDIC templates.
Following up upon administrative barriers restricting business development, we offer to consider following cases from our practice.
Dealing with the cases on the licenses in construction sphere, we can provide following example, which demonstrate vague provisions regulating the license issues in Kazakhstan. Well, in case of obtainment the license in construction sphere (for design works or for installation and civil works)applicant shall meet the qualification requirement on presence of minimal material and technical equipment. The matter is interpretation of the word “minimal”, who determinates minimal rate and quantity. In other words, negative circumstances for applicants like rejection in issuance of the license happened due to inaccurate wording of legislation acts.