LAW OF TURKMENISTAN

of August 16, 2014 No. 101-V

About the international commercial arbitration

This Law regulates the relations connected with education and activities of the international commercial arbitration.

Chapter I. General provisions

Article 1. Scope of this Law

1. This Law is applied to the international commercial arbitration if the place of arbitration is in the territory of Turkmenistan. The provisions provided by Articles 8, of 9, of 25, of 26, of 27, 46 and 47 these Laws are applied and when the place of arbitration is outside Turkmenistan.

2. Can be transferred to the international commercial arbitration by agreement of the parties:

the disputes from contractual and other civil relations arising when implementing the foreign trade and other types of the international commercial ties if the commercial enterprise at least of one of the parties is outside Turkmenistan, and also disputes of the companies with foreign investments and the international associations and the organizations created in the territory of Turkmenistan, among themselves, disputes between their participants, and equally in their disputes with other persons of law of Turkmenistan.

3. For the purposes of part two of this Article:

1) if the party has more than one commercial enterprise, that which has the greatest relation to the arbitral agreement is considered commercial enterprise;

2) if the party has no commercial enterprise, its usual residence is taken into account.

4. This Law does not affect the sphere of operation of any other law of Turkmenistan owing to which certain disputes cannot be referred to arbitration or to arbitration only according to other provisions, than those which contain in this Law can be referred.

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