What are Principles of Dispute Settlement in Arbitration?

Dispute resolution methods are litigation, negotiation, mediation and arbitration. Handing disputes requires litigation law firm with dispute lawyers in Vietnam having experience and knowledge to provide resolutions to complex cross-border issues, commercial and civil disputes.

According to Article 4 of Vietnam Law on Commercial Arbitration, the following principles must be adhered to during dispute settlement in arbitration:

Arbitrators must respect the parties’ agreement if such agreement neither breaches prohibitions nor contravenes social ethics.

Arbitrators must be independent, objective and impartial and shall observe law.

Disputing parties are equal in their rights and obligations. The arbitration council shall create conditions for disputing parties to exercise their rights and fulfill their obligations.

Dispute settlement by arbitration shall be conducted in private, unless otherwise agreed by the parties.

The arbitral awards are final.

Arbitration has become an extremely popular method of dispute resolution, as many businesses prefer it over the high costs of litigation.

Arbitration lawyers in Vietnam at ANT Lawyers with accreditation in national and international arbitration practice could help providing legal advice in disputed matters, and guide the clients throughout the process. The arbitration lawyers could also advise the clients on various matters from choice of arbitrator, choice of arbitration rules, ad-hoc or institutional arbitration, place of arbitration, enforcement of arbitral award.