Phuoc & Partners – Vietnam Company Law

SETTLEMENT OF COMMERCIAL BUSINESS DISPUTES BY COURT OR COMMERCIAL ARBITRATION

BUSINESS-DISPUTES

Commercial activities are activities for profit-making purposes, including the sale and purchase of goods, provision of services, investment, commercial promotion and other activities for profit-making purposes[1]. Accordingly, commercial business disputes are understood as conflicts and dissent that occur between parties in the process of participating in commercial activities. The question is settlement of commercial business disputes by court or commercial arbitration in Vietnam. This article will prescribe some of the pros and cons of settlement of commercial business disputes by court or commercial arbitration for readers’ reference.

  1. Advantages and disadvantages of settlement of commercial business disputes by court

Advantages

–           The judgments or decisions of courts which have been legally enforceable are guaranteed to execute by the agency for legal enforcement.

–           The fee for settlement of commercial business disputes by court is lower than that by arbitration. Court fees are described according to Resolution 326/2016/UBTVQH14.

Disadvantages

  1. Advantages and disadvantages of settlement of commercial business disputes by commercial arbitration

Advantages

Disadvantages

Above is an overview of settlement of commercial business disputes by court or commercial arbitration. If you have difficulty in finding a professional consulting law firm and support regarding to settlement of commercial business disputes, please contact us: Phuoc & Partners is a professional law 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 law on enterprise in Vietnam that has leading practice areas in the legal market such as Labour and Employment, Taxation, Merger and acquisition, Litigation. We are confident in providing customers with optimal and effective service.

[1] Article 3.1 of Law on Commerce 2005

[2] Article 17 of Civil Procedure Code 2015

[3] Article 4.5 of Law on Commercial Arbitration 2010

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