On November 15, the first conference of the Permanent Court of Arbitration of Vietnam was held in Vietnam, co-organized by the Ministry of Foreign Affairs of Vietnam, the Permanent Court of Arbitration (PCA) and the Vietnam Society of International Law.
Speaking at the discussion session, Mr. Nguyen Van Hue - Head of the Law Research, Development and Dissemination Board, Vietnam Lawyers Association, standing member of the Editorial Board of the Proposal to develop the revised Law on Commercial Arbitration, presented a number of important contents related to the development practice and major orientations in perfecting the legal system on commercial arbitration in the coming time.
Development steps of shopping mall activities
Accordingly, over the past 10 years, Vietnam's commercial arbitration has developed quite strongly, with 44 Commercial Arbitration Centers and more than 700 Arbitrators including foreign experts. The number of cases resolved by arbitration has increased in both value and quantity (increased by nearly 10 times), and in diverse fields.
“This shows that the Law on Commercial Arbitration promulgated in 2010 is a good quality law, suitable for implementation during the past period,” Mr. Hue said, while carefully analyzing 6 outstanding aspects of this law.
Firstly, the Law on Commercial Arbitration has absorbed important principles of the UNCITRAL Model Law, creating a relatively favorable framework for the development of arbitration. The provisions of the Law on Commercial Arbitration basically meet the requirements for resolving commercial disputes by arbitration in Vietnam and are similar to the law and practice of international commercial arbitration.
Mr. Nguyen Van Hue - Member of the Central Standing Committee of the Association, Head of the Department of Research, Development and Dissemination of Law, Vietnam Lawyers Association.
Second, the Law on Commercial Arbitration respects the parties' right to freedom of agreement, ensuring maximum autonomy of the disputing parties. This is the basic principle of arbitration, expressed throughout the entire arbitration process; the parties have the right to freely agree on the litigation procedure.
Third, the jurisdiction of commercial arbitration to resolve disputes is broader than previously prescribed (Ordinance 2003), including business and commercial activities and other relationships recognized by law (specialized laws) as also falling under the jurisdiction of Arbitration.
Fourth, the Law on Commercial Arbitration clearly stipulates the role of the Court in supporting and supervising arbitration activities. Specifically, supporting activities include: establishing a case arbitration council, resolving requests to change arbitrators, collecting evidence, summoning witnesses, and applying temporary emergency measures. Supervision activities include: resolving complaints about the jurisdiction of the Arbitration Council, resolving requests to annul arbitration awards, and registering case arbitration awards.
Fifth, the Commercial Arbitration Law establishes the principle of loss of right to object, according to which, if a party discovers a violation of arbitration proceedings or law, that party is required to raise it during the arbitration proceedings, otherwise it will lose the right to object in court. This provision is intended to effectively prevent opportunistic behavior in arbitration proceedings.
Sixth, the Commercial Arbitration Law expands the authority of the arbitration council, making the proceedings more effective. Accordingly, the arbitration council can summon witnesses; apply temporary emergency measures; The authority does not accept amendments or supplements to the petition, counter-claim, or self-defense in case of abuse to make it difficult to make an arbitration award.
Building a shopping mall institution to meet new development needs
Presenting further on the important changes in the upcoming amendment of the Law on Commercial Arbitration, Mr. Nguyen Van Hue said that with the goal of continuing to promote the development of commercial arbitration in accordance with the policies and viewpoints of the Party and State of Vietnam, the Vietnam Lawyers Association has taken steps to research and review the implementation process of the Law on Commercial Arbitration and the tasks of this amendment, which will have to thoroughly overcome the shortcomings and limitations of the Law on Commercial Arbitration 2010 after more than 12 years of implementation.
“Vietnam is deeply and widely integrating into the global economy and dispute resolution by arbitration is becoming a popular trend, so it is necessary to build a commercial arbitration institution that meets these new needs. Our ambition is to build a law that makes commercial arbitration operate more effectively; reaching international standards as much as possible,” Mr. Hue affirmed.
Conference overview.
In addition, the Law on Commercial Arbitration in this revision is also emphasized to be in harmony with the laws on commercial arbitration of countries with developed arbitration institutions; thereby creating trust for businesses in choosing arbitration in dispute resolution and Vietnam must build a commercial arbitration capable of competing with other developed arbitration organizations, at least in the region.
Based on that awareness, the representative of the Vietnam Lawyers Association pointed out some of the major and most important orientations of this law amendment.
One is to expand the scope of jurisdiction of commercial arbitration to resolve disputes in the sense of expanded commerce. This not only helps commercial arbitration develop but also helps people and businesses have more opportunities to choose alternative dispute resolution measures.
Second, continue to improve regulations on arbitration proceedings and expand the authority of the Arbitration Council so that arbitration is truly an effective, fast, convenient institution, meeting the practical needs of dispute resolution; in accordance with Vietnam's socio-economic conditions, the Model Law and international practices.
Third, continue to improve regulations on the Court's role in supporting and supervising arbitration activities, especially regulations on the annulment of arbitration awards in a clearer, more transparent and appropriate manner. This is also one of the key points to promote the strong development of arbitration in our country.
“Our team of document builders believes that the completion of the Law is like building a road for everyone to walk together. So how should that road be designed to be suitable not only for us but also for our friends and partners, especially containing long-term visions. Therefore, in the process of building the Law, we will base it on the Model Law and the policy, economic and political space of Vietnam, ensuring harmony, universality and suitability to Vietnam's conditions,” Mr. Nguyen Van Hue affirmed .
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