In contract dispute resolution, the average time to resolve
a commercial contract dispute at the Court in Vietnam, even with the help
of dispute lawyers in Vietnam whom know well the
process would take long time through multiple proceedings. This period will
last longer if there is a foreign party in the dispute, including service
of notarization, legalization, authentication (or apostile) the documents.
According to World Bank statistics, the cost of resolving a commercial dispute
at the Court accounts for about 29% of the contract value (including attorneys’
fees, court fees, judgment execution fees).
The practice of resolving the dispute case at the Court appears
to face many challenges of time lengthening and possible effective enforcement
leading to cost of time and money. Therefore, the selection of dispute
resolution in the mediation center is a possible option to resolve this issue.
Vietnam authorities and international agencies have taken active
measures needed to promote the application of commercial mediation in
international contracts, in order to resolve issues more quickly and
effectively in international trade disputes. The application of commercial
dispute resolution at mediation centers in Vietnam will save time and costs for
dispute resolution. In addition, the dispute resolution at the mediation center
will also help the parties maintain the relationship for future business transactions.
Until Aug 2019, in Vietnam, there are 7
commercial mediation centers licensed by the Ministry of Justice with a team of
domestic and international certified mediators and lawyers who can contribute
to resolving disputes in international trade contracts. The use of
mediation centers in the settlement of
disputes in Vietnam with the help of lawyers in Vietnam will help the
parties to find common grounds and together save cost, time, keep
confidentiality of the dispute and could continue to do business with each
other.
ANT Lawyers is a Law firm in Vietnam with
international standards, recognized by Legal500, IFLR1000. We are an exclusive
Vietnam member of Prea Legal, the global law firm network covering more than
150 juridictions. The firm provides a range of legal services as following
to multinational and domestic clients.
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