AIFC enhanced the Contract Legal Framework

The AIFC adopted amendments to the AIFC Contract Regulations 2017 and the AIFC Implied Terms in Contracts and Unfair Terms Regulations 2017 aimed at strengthening the protection of the rights and interests of parties.

The amendments introduce new provisions on recognition of electronic contracts and on unfair terms in consumer contracts in line with the best practice of the global financial centres and the legislation of England and Wales.

The amendments will commence on 1 October 2022.

For more information, please follow these links: https://aifc.kz/legal-framework/contracts/ and https://aifc.kz/legal-framework/implied-terms-in-contracts-and-unfair-terms/

Reference:

The Astana International Financial Centre (AIFC) is an independent jurisdiction that started operations in 2018. In accordance with the Development Strategy until 2025, the key focus of the AIFC is to consolidate as a universal platform connecting the countries of the EAEU, Central Asia and the Caucasus.

www.aifc.kz