What is the difference between arbitration and conciliation?

For arbitration, the parties shall select arbitrators. The selected arbitrators then shall resolve the dispute and render an arbitration award which is final and binding. For conciliation, a third party shall play the role of a conciliator helping the parties to resolve dispute through negotiation. The conciliator is not allowed to directly resolve the dispute and render a decision, […]

Please provide some information about the arbitration fees of VIAC.

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?

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 […]