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Cost of Arbitration

OK Exchange rate VND/USD: 22,680.00
According to foreign currency exchange rate of Vietcombank.

SCHEDULE OF ARBITRATION COSTS OF THE VIETNAM
INTERNATIONAL ARBITRATION CENTRE (VIAC)

(Under the Decision No. 89/QD-VIAC dated 25/01/2016 by the VIAC President)

I. Basis of calculation

1. For Requests for Arbitration and Counterclaims specifying the value in dispute:

1.1 For disputes resolved by an Arbitral Tribunal comprising three Arbitrators

Unit: VND

Value in dispute Arbitration Costs (VAT included)
Up to 100,000,000 16,500,000
From 100.000.001 to 1.000.000.000 16,500,000 + 7.7% of the amount over 100,000,000
From 1.000.000.001 to 5.000.000.000 85,800,000 + 4.4% of the amount over 1,000,000,000
From 5.000.000.001 to 10.000.000.000 261,800,000 + 2.75% of the amount over 5,000,000,000
From 10.000.000.001 to 50.000.000.000 399,300,000 + 1.65% of the amount over 10,000,000,000
From 50.000.000.001 to 100.000.000.000 1,059,300,000 + 1.1% of the amount over 50,000,000,000
From 100.000.000.001 to 500.000.000.000 1,609,300,000 + 0.50% of the amount over 100,000,000,000
Over 500.000.000.001 3,609,300,300 + 0.30% of the amount over 500,000,000,000 

 

1.2.  For disputes resolved by a Sole Arbitrator, the arbitration costs shall be 70% of the costs for the same value in dispute mentioned in Section 1.1 above.

1.3.  Value in dispute in foreign currency shall be converted into Vietnamese Dong at the transfer exchange rate announced by Vietcombank at the time of submission of Request for Arbitration or Counterclaim.

2. For Requests for Arbitration and Counterclaims without indicating the monetary value in dispute, the arbitration costs shall be fixed by the VIAC President at his consideration of the dispute’s nature, estimated time for dispute settlement and the number of the Arbitrators.

3. For Requests of Arbitration and Counterclaims containing both monetary requests and non-monetary ones, the arbitration costs shall be calculated pursuant to mentioned-above Item 1 and Item 2, respectively.

4. The arbitration costs mentioned in Items 1, 2 and 3 above excludes travelling, accommodation and other relevant expenses for Arbitrator(s) who resolve the dispute and secretarie(s) of the hearings, expenses for inspection and valuation of assets, expenses for seeking expert advice, and expenses for other assistance at the request of the Arbitral Tribunal.

5. The regulations in the above-mentioned Items 1, 2, 3 and 4 shall apply to calculate the additional arbitration costs for any amendment and/or supplement to Requests for Arbitration and Counterclaims which increases the value of the dispute and/or the value of the Counterclaim. In case of any decrease in the value of the dispute or in the value of the Counterclaim, the arbitration costs shall remain unchanged.                                                                                                               

II. The Refunding                              
The arbitration costs shall be refundable in the following circumstances:

1. Withdrawal of the Request for Arbitration and/or amendment and/or supplement to the Request for Arbitration; the Counterclaim and/or amendment and/or supplement to the Counterclaim:

(i) Where the Request for Arbitration and/or amendment and/or supplement to the Request for Arbitration; the Counterclaim and/or amendment and/or supplement to the Counterclaim are withdrawn before the constitution of the Arbitral Tribunal, 70% of the arbitration costs is refundable;

(ii) Where the Request for Arbitration and/or amendment and/or supplement to the Request for Arbitration; the Counterclaim and/or amendment and/or supplement to the Counterclaim are withdrawn after the constitution of the Arbitral Tribunal, 40% of the arbitration costs is refundable.

(iii) Where the Request for Arbitration and/or amendment and/or supplement to the Request for Arbitration; the Counterclaim and/or amendment and/or supplement to the Counterclaim are withdrawn after the Centre has sent the summon to the hearing, but before the date of the hearing, 20% of the arbitration costs is refundable.

2. Where the Arbitral Tribunal makes the Decision staying the dispute on the grounds of non-existence or invalidity or inability to be performed of an arbitration agreement, 30% of the arbitration costs is refundable.

3Where the Arbitral Tribunal makes the Decision staying the dispute resolution in accordance with a competent Court’s judgment saying that the Arbitral Tribunal having no jurisdiction over the dispute, 20% of the arbitration costs is refundable.

4. In no circumstances, the remaining arbitration costs is less than VND 10,000,000.

 

(*): Schedule of Arbitration costs (as amended) applies to disputes with arbitration proceedings began on  February 01, 2016. The dispute has started arbitration proceedings began before February 01, 2016, the costs is applied as the schedule taking effect from the date of March 24, 2014.

 

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