Originally from World Arbitration Reporter - Second Edition

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I.  BASIC INFORMATION

A. History and Operation

The Vietnam International Arbitration Centre at the Vietnam Chamber of Commerce and Industry (VIAC) was established in 1993 on the mergence of Foreign Trade Arbitration Council (founded in 1963) and Marine Arbitration Council (founded in 1964). The VIAC is a non-governmental, independent and the most reputable institution in Vietnam providing resolution of domestic disputes as well as disputes with foreign elements.  Under the Vietnamese Law on Commercial Arbitration 2010 in force as from January 1st, 2011 (hereinafter referred as to “the LCA”), the VIAC provides dispute resolution for not only disputes arising from commercial activities including sales of goods, provision of services, distribution, representation of traders, commercial dealers, consignment, rent, leasing, construction, consultancy, license, investment, finance, banking, insurance, exploration, exploitation, goods and passengers transportation by air, railway and road services and other commercial activities, but also disputes with the involvement of at least a party doing commercial activities and other arbitrable disputes  by law. 

Apart from arbitration, the VIAC also provides dispute resolution through conciliation in accordance with the Rules of Conciliation in force as from September 10th, 2007.