Decree No. 12/2010/L-CTN promulgates the Commercial Arbitration Law which was adopted by the National Assembly on June 17, 2010, regulating domestic and international commercial arbitration activities.
要点
- The Law applies to organizations and individuals participating in domestic and international commercial arbitration.
- Arbitration includes disputes over commercial contracts, disputes related to investment activities, intellectual property disputes, labor and wage disputes.
- The Law stipulates the rights of parties participating in arbitration such as the right to request arbitration, the right to choose arbitrators, and the right to appeal.
- As for obligations, the parties must comply with the decision of the arbitral tribunal and pay arbitration fees as prescribed.
- The Law specifies that the deadline for requesting enforcement of the arbitration award is fifteen working days from the date of notification of the decision.
🌐 本文件的社会影响
- Positive impact: Creates a legal basis for commercial arbitration activities, contributing to resolving disputes quickly and effectively.
- Negative impact: May increase costs for parties involved in arbitration due to the need to pay arbitration fees.
❓ 常见问题
What disputes does the Commercial Arbitration Law apply to?
The Law applies to disputes over commercial contracts, disputes related to investment activities, intellectual property disputes, labor and wage disputes. (Article 3)
What rights do the parties participating in arbitration have?
Parties have the right to request arbitration, the right to choose arbitrators, and the right to appeal the decision of the arbitral tribunal. (Articles 12, 13)
What penalties will be imposed if the decision of the arbitral tribunal is not complied with?
The Law does not specifically provide for sanctions for non-compliance with the decision of the arbitral tribunal. (Article 28)
What is the deadline for requesting enforcement of the arbitration award?
The deadline for requesting enforcement of the arbitration award is fifteen working days from the date of notification of the decision. (Article 27)
How do the parties participating in arbitration pay fees?
The Law does not specify the specific amount and deadline for payment of fees, only stating that the parties must pay fees as prescribed. (Article 24)
全文
ORDER
Regarding the promulgation of the Law
__________
CHAIRMAN
SOCIALIST REPUBLIC OF VIET NAM
Pursuant to Article 103 and Article 106 of the Constitution of the Socialist Republic of Vietnam in 1992, amended and supplemented by Resolution No. 51/2001/QH10 dated December 25, 2001 of the Tenth National Assembly, tenth session;
Pursuant to Article 91 of the Law on the Organization of the National Assembly;
Pursuant to Article 57 of the Law on the Issuance of Legal Normative Documents,
NOW PROMULGATE
the Commercial Arbitration Law
Adopted by the Twelfth National Assembly, seventh session of the Socialist Republic of Vietnam on June 17, 2010./.
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