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The 2010 Commercial Arbitration Law has introduced new provisions to make the use of arbitration for effective dispute resolution a reality. Alongside this are regulations aimed at enhancing the position of arbitration in dispute resolution. Please follow Mytour's article below to gain a better understanding of this issue.
Commercial Arbitration Law 2010, Law No. 54/2010/QH12, and notable new points
1. General Introduction to Commercial Arbitration Law.
2. Some New Points of Commercial Arbitration Law.
* Abbreviated from the category:
- CAC: Commercial Arbitration Code.
* Download the latest update of the 2010 Commercial Arbitration Law HERE
1. General Introduction to Commercial Arbitration Law
- The latest applicable Commercial Arbitration Law is Commercial Arbitration Law 2010. The law has been effective since January 01, 2011.
- Structure: The Commercial Arbitration Law consists of 82 Articles within 13 Chapters as follows:
+ Chapter I: General provisions
+ Chapter II: Arbitration Agreement
+ Chapter III: Arbitrators
+ Chapter IV: Arbitration Center
+ Chapter V: Initiation of Lawsuit
+ Chapter VI: Arbitral Tribunal
+ Chapter VII: Interim Emergency Measures
+ Chapter VIII: Dispute Resolution Meetings
+ Chapter IX: Arbitral Award
+ Chapter X: Enforcement of Arbitral Awards
+ Chapter XI: Annulment of Arbitral Awards
+ Chapter XII: Organization and Activities of Foreign Arbitrators in Vietnam
+ Chapter XIII: Execution Provisions
- Regulatory Scope: The law stipulates the following issues:
+ Jurisdiction of Commercial Arbitration, forms of arbitration, arbitration organization, Arbitrators;
+ Arbitration procedures, and processes;
+ Rights, obligations, and responsibilities of the parties in arbitration proceedings;
+ Jurisdiction of the Court over arbitration activities;
+ Organization and activities of Foreign Arbitrators in Vietnam, enforcement of arbitral awards.
2. Some New Points of Commercial Arbitration Law
2.1. Broadening the Jurisdiction of Arbitration
- The 2010 CAC Law specifies the disputes that Commercial Arbitrators have the authority to resolve, addressing the issue of unclear jurisdiction.
- The new law has expanded the arbitration resolution jurisdiction to disputes not arising from commercial activities but regulated by relevant laws, which will be settled through arbitration.
The Commercial Arbitration Law for the first time regulates disputes involving a party as a consumer
2.2. Regulation of disputes involving a party as a consumer
This marks the first time the law regulates this content. Under Article 17 of the Commercial Arbitration Law, consumers can choose arbitration or court to resolve disputes with suppliers of goods or services.
2.3. Supplementing regulations on arbitration rules
- Compared to the 2003 Commercial Arbitration Ordinance, the Commercial Arbitration Law has provided a definition of 'Arbitration Rules' instead of the previous concept of 'Arbitral Tribunal established at the Arbitration Center.'
- The law allows arbitration centers to issue procedural rules tailored to the specific characteristics of each center to enhance attractiveness to disputing parties.
- Foreign arbitration organizations are allowed to open branches or representative offices in Vietnam. The opening must comply with Vietnamese laws and international agreements of which Vietnam is a member.
2.4. Elevating the Status of Arbitration
The provisions of the new law have enhanced the status of arbitration by allowing the Arbitral Tribunal to collect evidence, summon witnesses, and apply interim emergency measures (Articles 47, 48, 50). These provisions contribute to making arbitration proceedings more efficient.
2.5. New Regulations on Court Procedures for Examining Requests to Annul Arbitral Awards
According to the new law, the Arbitration Council examining requests to annul arbitral awards will consist of three Judges, and the Council's decision is jointly adjudicated. This provision aligns perfectly with real-world application.
2.6. Defining the Relationship between Arbitration and the Court
- Article 7 of the 2010 Commercial Arbitration Law provides provisions to define the legal relationship between Arbitration and the Court. This regulation addresses the shortcomings of the 2003 Commercial Arbitration Ordinance.
- Clear regulations will facilitate the Court and the Arbitration Council, as well as disputing parties, in specific cases, contributing to creating conditions for efficient arbitration proceedings.
The above are just some new points of the Commercial Arbitration Law compared to the old ordinance. It can be seen that the law has detailed provisions, inheriting suitable legal content, amending and supplementing limitations and deficiencies. All of these aim to create precise, fitting regulations, ensuring legitimate rights for all parties.
Readers can explore many other legal normative documents in the Vietnamese legal system, such as International Law, Immigration Law, Value Added Tax Law, etc.
