Conditions for resolving disputes by arbitration in Vietnam

Article overview

Resolving disputes by arbitration is an optimal method, helping businesses and organizations effectively handle conflicts in the commercial field. With professionalism, speed and flexibility, arbitration provides comprehensive solutions, saves time, costs and contributes to maintaining long-term business relationships. Please follow Long Phan’s article to update more useful information about this dispute resolution method!

Things to know about resolving disputes by arbitration in Vietnam
Things to know about resolving disputes by arbitration in Vietnam

What is commercial arbitration?

According to Clause 1, Article 3 of the Law on Commercial Arbitration 2010, commercial arbitration is a dispute resolution method chosen by agreement between the parties and implemented according to the provisions of the Law on Commercial Arbitration 2010.

And based on Clauses 6 and 7, Article 3 of the Law on Commercial Arbitration 2010, there are the following forms of commercial arbitration:

  • Statutory arbitration is a form of dispute resolution at an arbitration center according to the provisions of the Law on Commercial Arbitration 2010 and the procedural rules of that arbitration center.
  • Ad hoc arbitration is a form of dispute resolution according to the provisions of the Law on Commercial Arbitration 2010 and the order and procedures agreed upon by the parties.

Thus, according to the provisions of the Law on Commercial Arbitration 2010, commercial arbitration is a method of resolving disputes based on agreement between the parties, with two main forms: regulatory arbitration and ad hoc arbitration. Choosing the appropriate method will help parties resolve disputes effectively, quickly and ensure their rights according to the law.

Principles of dispute resolution by commercial arbitration

According to the provisions of Article 4 of the Law on Commercial Arbitration 2010, the principles of dispute resolution by Arbitration include:

  • The arbitrator must respect the parties’ agreement if that agreement does not violate prohibitions or is contrary to social ethics.
  • Arbitrators must be independent, objective, impartial and comply with the provisions of law.
  • The disputing parties are equal in rights and obligations. The arbitration council is responsible for creating conditions for them to exercise their rights and obligations.
  • Resolving disputes by arbitration is conducted privately, unless the parties agree otherwise.
  • The arbitration award is final.
Principles to understand when resolving disputes by arbitration
Principles to understand when resolving disputes by arbitration

Conditions for resolving disputes by commercial arbitration

According to Clause 1, Article 5 of the Law on Commercial Arbitration 2010, the conditions for resolving disputes by Commercial Arbitration are prescribed as follows:

  • Disputes are resolved by Arbitration if the parties have an arbitration agreement. Arbitration agreements can be made before or after a dispute arises.
  • In case a party to the arbitration agreement who is an individual dies or loses legal capacity, the arbitration agreement remains valid for that person’s heirs or legal representatives, unless the parties have other agreements.
  • In case a party to an arbitration agreement is an organization that must cease operations, go bankrupt, dissolve, consolidate, merge, divide, separate or convert its organizational form, the arbitration agreement remains valid for the organization that takes over the rights and obligations of that organization, unless the parties have agreed otherwise.

Thus, if there is no arbitration agreement between the parties, the dispute will not be eligible to be resolved by arbitration, so the parties need to pay attention to the above conditions.

Note the conditions before proceeding to resolve disputes by arbitration
Note the conditions before proceeding to resolve disputes by arbitration

Consulting services and support for dispute resolution using professional and effective commercial arbitration

Long Phan provides professional and comprehensive consulting services in resolving disputes by commercial arbitration. With a team of experienced experts, we provide effective, fast support and meet customer needs.

Our services include:

  • Consulting and support in evaluating the validity and effectiveness of arbitration agreements;
  • Consulting on choosing the appropriate form of dispute resolution by arbitration;
  • Consulting and analyzing the rights and obligations of the parties in the dispute;
  • Consulting and guiding the order and procedures for resolving disputes by arbitration;
  • Support in drafting professional arbitration agreements and ensuring legality;
  • Consulting and guidance on collecting evidence documents;
  • Review and advise on amendments to arbitration clauses in business contracts;
  • Representing customers to resolve disputes by arbitration;
  • Consulting and supporting the implementation of procedures for recognition and enforcement of arbitration awards at Court to ensure the award is fully implemented;
  • Consulting and answering other related issues.

Resolving disputes by commercial arbitration is an effective method, ensuring transparency, speed and confidentiality. If you need advice or support on issues related to resolving commercial disputes by arbitration. Please contact Long Phan via the hotline 0906735386, we will provide professional and effective solutions to help you best protect your legal rights.