Vietnam - Chapter 15 - International Commercial Arbitration in Asia - 3rd Edition
Bui Thi Bich Lien is a PhD Candidate in the Department of Business Law and Taxation, Monash University, Australia. The author would like to thank Nguyen Manh Dzung, managing partner of Dzungsrt and Associates, and arbitrator at PIAC, for his valuable comments and inputs into the daft.
Originally from: International Commercial Arbitration in Asia - 3rd Edition
I. INTRODUCTION
Arbitration is a relatively new concept in Vietnam, and its path of development is facing considerable challenges. It was not until the late 1980’s and early 1990’s of the 20th century when the country was opened to foreign trade that the concept was legislated, and non-governmental arbitration institutions were set up in Vietnam. Vietnam also became a member of the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (the New York Convention) in 1995.
Legislative development has shown that the Government has been attempting to promote non-governmental arbitration in the transitional period from centrally planned economy to market-oriented economy. The first piece of legislation that governed arbitration in Vietnam is Decree No. 116-CP, which was promulgated by the Government in 1994. Following the issuance of this Decree, a number of arbitration centers were established including the Vietnam International Arbitration Center (VIAC) which remains the largest arbitration tribunal in Vietnam to date. Decree No. 116-CP was later replaced by the Ordinance on Commercial Arbitration (the Ordinance) in 2003.2 The Ordinance adopted a number of internationally recognized principles and norms such as ad hoc arbitration, finality of arbitration awards, and independence of arbitration agreement. In addition, the Ordinance affirmed the court’s support for arbitration and provided a mechanism to enforce arbitral awards. Other laws that support the enforcement of arbitration awards were also enacted recently, such as the Code of Civil Procedures3 and the Law on Execution of Civil Judgments.4
Chapter 15
Arbitration in Vietnam
I. Introduction
II. The Legal Framework for International Arbitration in Vietnam
A. Applicable Laws
B. The Role of Courts
C. Forms and Scope of Arbitration Agreement
D. Validity of Arbitration Agreements
E. Arbitrability of Claims
F. Selection and Challenges to Arbitrators
1. Selection of Arbitrators
2. Challenges to Arbitrators
G. Place and Language of Arbitration
H. Conduct of Proceedings
I. Interim Measures
J. Issuance and Correction of Arbitral Awards
III. Arbitration in Practice
IV. Enforcement of Arbitral Award
A. General Structure of Enforcement
1. Domestic Arbitral Awards
2. Foreign Arbitral Awards
B. Setting Aside Arbitral Awards
1. Domestic Awards
2. Foreign Awards