Please provide some information about the arbitration fees of VIAC.
According to the website of the Vietnam International Arbitration Centre (VIAC) at the Vietnam Chamber of Comerce and Industry, since January 1st 2012, VIAC will apply a new schedule of arbitration costs. I. Basis to calculate arbitration fees 1. Statement of Claim and Counterclaim indicate the value of the dispute Units: Vietnam dong Value of […]
Are parties required to select arbitrators within the list of arbitrators of VIAC when the dispute was agreed to be settled in accordance with the Rules of Arbitration of VIAC?
According to the Rules of Arbitration of VIAC, Parties are required to appoint arbitrators within the list of arbitrator of VIAC to resolve disputes without foreign elements. But Parties are free to appoint arbitrators outside the list of arbitrators to resolve disputes with foreign elements. If you would like further information on Are parties required […]
Could parties submit a petition to the court while they have already agreed upon an arbitration agreement?
No, they could not. According to Article 6 of The Arbitration Law 2010, where the parties in dispute already have an arbitration agreement but one party institutes court proceedings, the court must refuse to accept jurisdiction unless the arbitration agreement is void or incapable of being performed. The arbitration agreement is void and null in […]
What contents should be contained in the arbitration agreement?
The content of the arbitration agreement should be simple but accurate, the following contents are highly recommended: – Type of arbitration (Institutional arbitration or Ad hoc arbitration); – The arbitration centre agreed by parties; – The number of arbitrators (1 or 3); – The place of arbitration; – Applicable law of arbitration; – Language of […]
How many arbitration centres are there in Vietnam?
There are currently 7 arbitration centres in Vietnam, namely: 1) The Vietnam International Arbitration Centre at the Vietnam Chamber of Commerce and Industry (VIAC) Address: No. 9, Dao Duy Anh, Dong Da, Hanoi. Tel: (04) 3574 4001 Fax: (04) 3574 3001 Emai: viac-vcci@hn.vnn.vn Website: www.viac.org.vn List of Arbitrators: http://www.viac.org.vn/vi-VN/Home/danhsachtrongtaivien.aspx VIAC also has branches in Ho Chi Minh city […]
How to choose arbitration for dispute resolution?
A dispute can only be brought to arbitration if there exist an arbitration agreement between the parties. An arbitration agreement may be in the form of an arbitration clause in a contract or in the form of a separate agreement (annexed to the contract) established during or after concluding the contract, or after the dispute […]
What is the advantages of arbitration?
First, arbitration is flexible and independent of the court. During the process of arbitration proceedings, parties are free to appoint arbitrators and agree upon the procedure of the arbitration, such as language of the arbitration, place of the arbitration, applicable law, ect. Second, arbitration is able to protect trade secrets and confidential information of the disputes as […]
Which disputes can be resolved by arbitration?
According to Article 2 of The Law on Commercial Arbitration of Vietnam in 2010 (hereinafter “The Arbitration Law 2010”), arbitration has competence in resolving the following disputes: 1.Disputes between parties arising from commercial activities. 2.Disputes arising between parties at least one of whom is engaged in commercial activities 3. Other disputes between parties which the law stipulates that […]
What is Commercial Arbitration?
Commercial Arbitration is a method to resolve disputes arising from commercial activities agreed by the parties and conducted in accordance with the provisions of law. The dispute resolution can be conducted by the Arbitration Tribunal of an arbitration centre or established by the parties. If you would like further information on What is Commercial Arbitration?, please either email […]