Article 50. Correction and clarification of the award. Additional arbitration award The Law on Arbitration
1. Within sixty calendar days after receipt of the award, unless otherwise specified by the parties or the rules of procedure.:
1) either party, by notifying the other party, may request the arbitral tribunal to correct any errors in calculations, typos or other errors of a similar nature made in the award.;
(2) Either party, having notified the other party, may request the arbitral tribunal to clarify any specific paragraph or part of the decision.
The arbitral tribunal, if it considers the request to be justified, must, within thirty calendar days of its receipt, unless another time limit is established by the rules or agreement of the parties, make appropriate corrections or provide clarification. An explanation of the award is an integral part of the award.
2. The arbitral tribunal may, on its own initiative, correct any errors specified in subparagraph 1) of paragraph 1 of this article, within sixty calendar days from the date of the award, unless another time limit is established by the rules or agreement of the parties.
3. Unless otherwise agreed by the parties, either party, by notifying the other party, may, within sixty calendar days of receipt of the award, request the arbitral tribunal to make an additional award in respect of claims that were stated during the arbitration proceedings but were not reflected in the award. The arbitral tribunal, if it considers the request to be justified, must issue an additional award within sixty calendar days after receiving it.
4. If necessary, the arbitral tribunal may extend the period, but not more than sixty calendar days, during which it is necessary to correct errors, provide clarification or make an additional award in accordance with paragraph 1 or 3 of this article.
The Law of the Republic of Kazakhstan dated April 8, 2016 No. 488-V SAM.
This Law regulates public relations arising in the course of arbitration activities in the territory of the Republic of Kazakhstan, as well as the procedure and conditions for the recognition and enforcement of arbitral awards in Kazakhstan.
President
Republic of Kazakhstan
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