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Right to request cancellation of an arbitration award is an important legal measure to help protect the legitimate rights of individuals and organizations in the process of resolving commercial disputes. Understanding the regulations on grounds, procedures and deadlines for requesting an annulment of a judgment will help businesses and individuals proactively respond to unfair judgments, ensuring fairness and transparency. In the article below, Long Phan will provide detailed information about the right to request cancellation of arbitration awards in Vietnam.
According to Article 68 of the Law on Commercial Arbitration 2010, an arbitration award may be canceled in the following cases:
According to Clause 1, Article 69 of the Law on Commercial Arbitration 2010, the subject with the right to request cancellation of an arbitration award is a disputing party. Specifically:
Note: The right to request cancellation of an arbitration award belongs only to the parties directly in dispute. Third parties do not have this right, even if they have interests related to the arbitration award.
Pursuant to Clause 1, Article 69 of the Law on Commercial Arbitration 2010. The deadline for submitting a request to cancel an arbitration award is 30 days from the date of receipt of the arbitration award. This is a mandatory deadline. If the deadline is exceeded, the right to request cancellation of the judgment may be lost.
Note: In case of a force majeure event, the time the event occurs is not included in the 30-day period. This ensures the rights of the requesting party in special cases.
The decision to request annulment of an arbitration award should be carefully considered. This requires a comprehensive assessment of the legal and practical aspects involved.
When considering a request to set aside an arbitral award, the following issues should be considered:
With a team of experienced experts and knowledgeable about commercial arbitration law, Long Phan provides customers with consulting services to request cancellation of arbitration awards, including:
The right to request cancellation of an arbitration award is a legal tool to protect your rights in commercial arbitration. Understanding and properly applying the right to request cancellation of an arbitration award will help you protect maximum benefits during the dispute resolution process. Please contact Long Phan immediately via hotline 0906735386 for advice and timely support. Long Phan will accompany customers to protect their rights and create business success.
Note: The content of the articles published on the website of Long Phan Investment Consulting Company is for reference only regarding the application of legal policies. Depending on the time, subject, and amendments, supplements, and replacements of legal policies and legal documents, the consulting content may no longer be appropriate for the situation you are facing or need legal advice on. In case you need specific and in-depth advice according to each case or incident, please contact us through the methods below. With our enthusiasm and dedication, we believe that Long Phan will be a reliable solution provider for our clients.
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