The dispute settlement of commercial contract by arbitration
The dispute settlement by the commercial arbitration is a type of dispute settlement agreed by the parties and it is conducted in accordance with the Law on Commercial Arbitration. In other words, this is a private dispute, the case is resolved confidentially about information... can be used instead of the dispute settlement type by court.
1/ Conditions for dispute settlement by commercial arbitration.
The parties to the contract must have an agreement when a dispute occurs in the contract, it will be resolved by arbitration, this agreement can be made before or after the dispute arises.
2/ Procedures for settling contract disputes by commercial arbitration
When implementing dispute resolution by arbitration, the parties will have to go through the following processes and procedures:
Step 1: Submit the petition and supporting documents.
Step 2: Defendant filed a defense
When the plaintiff sends the lawsuit petition and attached documents to the Arbitration Center, it must also send to the respondent a complete set of documents including the petition and attached documents. After the plaintiff files the lawsuit petition and accompanying documents, within 30 days from the date of receipt of the lawsuit petition and accompanying documents, the respondent must send the self-defense statement to the Arbitration Center or the Arbitrator, Depending on the case, the dispute is resolved by the Arbitration Center or the ad hoc arbitration.
Step 3: Establishment of the Arbitration Council
Step 4: Reconcile
Similar to the settlement of disputes at Court, when settling disputes by Arbitration, the conciliation procedures between the parties will also be performed by the Arbitration Council before conducting the resolution meeting.
At the request of the parties, the arbitration council shall conduct conciliation so that the parties can reach agreement on the settlement of the dispute. When the parties reach an agreement on the settlement of the dispute, the arbitration council shall make a record of successful conciliation signed by the parties and certified by the arbitrators. The arbitral tribunal shall issue a decision to recognize the agreement of the parties. This decision is final and has the same validity as an arbitral award.
Step 5: Open a dispute resolution session
Dispute settlement meetings shall be conducted in public, unless otherwise agreed by the parties.
The parties may directly or authorize a representative to attend the meeting to resolve the dispute; has the right to invite witnesses and defend his/her legitimate rights and interests.
In case of agreement of the parties, the Arbitral Tribunal may allow other persons to attend the dispute resolution session.
The order and procedures for conducting a dispute settlement meeting shall be prescribed by the arbitration center rules of arbitration proceedings; for ad hoc arbitration as agreed by the parties.
Step 6: The arbitral tribunal issues the award.
Based on the results of the dispute settlement session, based on the presentation and defense of the parties, the arbitral tribunal will issue an award based on the following principles:
>>> Read more: The dispute settlement of commercial contract by court
- The arbitral tribunal shall issue an arbitral award by voting on the principle of majority.
- In case the vote fails to reach a majority, the arbitral award shall be made according to the opinion of the Chairman of the Arbitral Council.
3/ Apolo Lawyers supports legal services regarding dispute settlement of commercial contract by arbitration
- Advising on the rights and obligations of the parties in the contractual relationship;
- Consulting to determine the basis for dispute settlement and the legal basis for dispute settlement;
- Consulting, preparing to contact and negotiating with related parties in the settlement of contract disputes;
- Organizing negotiation and conciliation of contract dispute parties, represent clients in negotiation and conciliation;
- Exchanging and guiding customers to collect documents and evidence, provide information;
- Authorized representative lawyers meet and discuss with Arbitration agencies, Courts, and judgment enforcement agencies to protect the legal rights and obligations of clients.
As a legal consultant, always accompanying investors in business activities in Vietnam, over the past year, Apolo Lawyers has continuously advised and supported foreign investors on the plan as well with many experienced years in drafting and consulting specific contracts in Vietnam.
Customers can connect us with many forms including direct law advice at the office, email counseling, telephone consultation and many other forms to create the best favorable conditions for clients. For customers who cannot directly meet the lawyers, you can choose to consult via Email, or WhatsApp.
Our company will offer the most effective solutions for customers, consulting in writing to ensure high accuracy, with legal basis. With the enthusiastic support from the company, the customer will spend not only a lot of time but also travel expenses.
For further information, contact us:
Apolo Lawyers - Solicitors & Litigators
Address: 10th Floor, PaxSky Building, No. 51 Nguyen Cu Trinh Street, District 1, Ho Chi Minh City
Binh Thanh Branch
Address: 9th/F, Tower K&M Building, 33 Ung Van Khiem St., Binh Thanh Dist., HCM City
Tel: (028) 66.701.709 / (028) 35.059.349
Mobile 1/ Whatsapp 1: 0939.486.086 | Mobile 2/ Whatsapp 2: 0908.043.086
>>> Read more: Competence of Vietnam courts over civil cases with foreign elements