Providing a Q&A chapter for 57 other jurisdictions, The International Comparative Legal Guide has published their 9th edition on arbitration. Michael K. Lee and Doan Ngoc Tran, partner and associate in the Tilleke & Gibbins corporate and commercial group, have both contributed to this year’s chapter on arbitration in Vietnam.
Specifically, the chapter covers:
- Arbitration agreements: requirements according to the Law on Commercial Arbitration of Vietnam of 2010 and the enforcement of arbitration agreements by the courts in Vietnam.
- Governing legislation: the main statutes such as Law No. 54/2010/QH12, dated 17 June 2010 of the Vietnamese National Assembly on Commercial Arbitration, the significance of the UNCITRAL Model Law, and the existence of mandatory rules governing international arbitration.
- Jurisdiction: how the law determines whether a dispute is arbitrable and whether courts will assume jurisdiction over parties which are not party to an agreement to arbitrate.
- Choice of law rules: an overview of the choice of law rules in Vietnam and the applicability of mandatory laws.
- Selection of Arbitral Tribunal: limits to parties’ autonomy to select arbitrators and whether courts can and/or will intervene, and the requirements for arbitrator independence, neutrality, and/or impartiality.
- Procedural rules: the laws governing the procedure of arbitration in Vietnam, a list of the procedural steps, the conduct of an arbitration hearing, and any corresponding rules or restrictions.
- Awards: the process and requirements of making an award, the bases on which awards can be challenged, the enforcement of an award, and ratification of international conventions, particularly the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards.
- Remedies/Interests/Costs: the types of remedies available, the determination of rates of interest, taxation, and an overview of lawyers’ fees.
This article appeared in the 2012 edition of The International Comparative Legal Guide to: International Arbitration, published by Global Legal Group Ltd., London. www.iclg.co.uk