METHODS OF SETTLEMENT OF DISPUTES OVER A SEA-GOING VESSEL

In current, the international trade and transportation of goods by sea have an indispensable role in the economic development of each country. This results in demand in methods of settlement of disputes over a sea-going vessel. Disputing parties will often try to find appropriate methods of settlement of disputes over a sea-going vessel to resolve conflicts and disagreements and at the same time, to ensure the legitimate rights and interests of the parties.

Maritime Code 2015 of Vietnam defines a sea-going vessel means floating movable means specially designed for operations at sea. A sea-going vessel referred to in this Code shall not include military ships, official duty ships, fishing ships, inland watercraft, submarines, submersibles, hydroplanes, floating warehouses, movable platforms and floating docks.

In principle, the involved parties can use methods of settlement of disputes over a sea-going vessel like negotiation, agreement or filing a lawsuit at competent arbitration or court. Accordingly, disputes in relation to a sea-going vessel are resolved by arbitration or court in accordance with competence and procedures prescribed by law.

In the case where at least one party is a foreign entity or individual, the parties of the contract may agree to bring the dispute to arbitration or court of a foreign country. In the case where the parties involved in a maritime dispute are foreign entities and individuals and have a written agreement to settle the dispute by arbitration of Vietnam, then the arbitration of Vietnam shall have the competence to settle such maritime dispute, even if the place of dispute is outside the territory of Vietnam. However, it should also be noted that a dispute in which the relevant parties are all foreign entities and individuals may be resolved in a Vietnamese court if the grounds for establishing, changing or terminating the relationship between the parties related to a maritime dispute under the laws of Vietnam or the property related thereto in Vietnam.

Above is an overview of methods of settlement of disputes over a sea-going vessel. If you have trouble with finding a law firm providing legal assistance regarding methods of settlement of disputes over a sea-going vessel, please do not hesitate to contact us: please contact us: Phuoc & Partners is a professional consulting firm established in Vietnam and currently has nearly 100 members working in three offices in Ho Chi Minh City, Hanoi and Danang. Phuoc & Partners is also rated as one of the leading consulting firms specializing in business law in Vietnam that has leading practice areas in the legal market such as Intellectual Property, Labour and Employment, Taxation, Merger and acquisition, Litigation. We are confident in providing Clients with optimal and effective legal service.