Model Clause

MODEL ARBITRATION CLAUSE OF THE VIETNAM INTERNATIONAL ARBITRATION CENTRE AT THE VIETNAM CHAMBER OF COMMERCE AND INDUSTRY

29/10/2014 17:44

In drawing up contracts, the Vietnam International Arbitration Centre (VIAC) recommends that parties use the following Model Arbitration Clause or expedited procedure model clause:

 

MODEL ARBITRATION CLAUSE

“Any dispute arising out of or in relation with this contract shall be resolved by arbitration at the Vietnam International Arbitration Centre (VIAC) in accordance with its Rules of Arbitration”.

or

“Any dispute arising out of or in relation with this contract shall be resolved by arbitration at the Vietnam International Arbitration Centre at the Vietnam Chamber of Commerce and Industry (VIAC) in accordance with its Rules of Arbitration”.

Parties may wish to consider adding:

(a) the number of arbitrators shall be [one or three].

(b) the place of arbitration shall be [city and/or country].

(c) the governing law of the contract [is/shall be] the substantive law of [ ].*

(d) the language to be used in the arbitral proceedings shall be [ ].**

Note:

* For disputes which involve a foreign element

** For disputes which involve a foreign element or disputes in which at least one party is an enterprise with foreign investment capital

 

EXPEDITED PROCEDURE MODEL CLAUSE

“Any dispute arising out of or in relation with this contract shall be resolved by arbitration at the Vietnam International Arbitration Centre (VIAC) in accordance with its Rules of Arbitration. The parties agree that any arbitration commenced pursuant to this clause shall be conducted in accordance with the Expedited procedure set out in Article 37 of the VIAC Rules of Arbitration.”

Parties may wish to consider adding:

(a) the place of arbitration shall be [city and/or country].

(b) the governing law of the contract [is/shall be] the substantive law of [ ].*

(c) the language to be used in the arbitral proceedings shall be [ ].**

Note:

* For disputes which involve a foreign element.

** For disputes which involve a foreign element or disputes in which at least one party is an enterprise with foreign investment capital.

 

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