Why VIAC

Why VIAC

20/10/2014 17:43

1. REPUTATION

  • The VIAC is an independent, professional and long-standing arbitration institution in Vietnam for the settlement of domestic disputes and disputes with foreign elements by arbitration and mediation.
  • Arbitrators at the VIAC are Vietnamese and high-ranking international experts in various areas
  • Professional secretariat

2. FLEXIBILITY

The parties are free to agree on:

  • The selection of Arbitrators, qualifications for and nationality of Arbitrators
  • Language of arbitration (in disputes with a foreign element or disputes in which at least one party is an enterprise with foreign investment capital).
  • Applicable law (in disputes with a foreign element)
  • Place of arbitration
  • Time for dispute settlement

3. FRIENDLINESS

  • All queries on arbitral proceedings are timely responded
  • The communication among the VIAC, the parties and the Arbitral Tribunal is convenient and rapid

4. TRANSPARENCY

  • The Rules of Arbitration are transparent and uniformly applied in accordance with the agreement of the parties
  • The access to documents of the parties during the arbitration proceedings is guaranteed
  • The Costs of Arbitration are publicly available on the website: http://eng.viac.vn/bieu-phi
  • Arbitrators resolve disputes independently, impartially and objectively in accordance with laws and meet international standards

5. EFFICIENCY

  • Arbitrators have in-depth expertise in many areas
  • The information and process of dispute resolution are confidential.
  • Reasonable time and costs
  • Arbitral Awards issued by VIAC are directly sent to Vietnamese Enforcement Agencies without conducting the procedures for recognition and enforcement at a Court. In cases that are enforced in foreign countries, VIAC Arbitral Awards shall be enforced in more than 150 nations and territories which are members of the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York, 1958) (the "New York Convention")
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