1. Common commercial disputes
Commercial disputes are conflicts over rights and obligations between parties in the process of conducting commercial activities.
Common commercial disputes
- Purchasing and selling goods, providing services; lease, hire purchase; construction; freight; purchasing and selling bonds and stocks; financial investment, banking.
- Disputes over intellectual property rights, technology transfer between individuals and organizations, and all have profit purposes.
- Other business and commercial disputes as provided by law.
2. Methods of settling commercial disputes
Commercial disputes can be resolved through the following forms: Negotiation, Conciliation, Arbitration, Court. In particular, the Arbitration and the Court are considered to be highly effective, meeting the needs and desires of the disputing parties.
|Advantages||- Judgment of the Court is coercive.|
- Expenses when participating in legal proceedings (court fees, charges) are reasonable.
|- Respect the agreement of the disputing parties
- Quick and flexible procedure
- Information security
- The Arbitrator's decision is final, legally binding on the parties, the parties have no right to appeal
|Disadvantages||- Dispute resolution often takes a long time|
- Rigid and complicated procedures
- Public trial, which is difficult to ensure the confidentiality of information for the parties
|- High cost
- The Arbitrator's decision may be requested by the parties to be reviewed by the Court or may be annulled by the competent Court.
3. Jurisdiction and order to settle commercial disputes through Arbitration and Court
|Competent People's Courts (district or provincial level) can resolve most commercial disputes, unless the parties have agreed to arbitration.||Disputes shall be resolved by arbitration if the parties have an arbitration agreement. The arbitration agreement can be made before or after a dispute occurs.|
|Sequence of settlement||Step 1: Submit the lawsuit petition and evidence documents at the competent People's Court|
Step 2: Within 07-15 days, the Court will check the dossier and send a notice of advance payment (if the dossier is valid)
Step 3: Within 07 days, the litigators must advance court fees and submit the receipts for payment of Court fee advances to the Court
Step 4: The judge accepts the case
Step 5: The court conducts conciliation so that the involved parties can reach agreement on the settlement of the case. If conciliation fails, the case will be brought to the first-instance trial.
|Step 1: The plaintiff submits the lawsuit petition, documents and evidence attached to the petition
Step 2: Defendant submits a self-defense or re-initiate lawsuits to the Commercial Arbitration Center
Step 3: The commercial arbitration center establishes an arbitration council to open a dispute settlement session
Step 4: After the end of the dispute resolution session, the Arbitral Council will issue an arbitral decision by voting on the principle of majority.
|Settlement time||- Preparation for trial: up to 04 months. In case the case is complicated or there are objective obstacles, the extension may be extended for no more than 2 months.|
- Opening the court session: 01 month from the date of issuing the decision to bring the case to trial. If there is a legitimate reason, this time limit is 02 months.
In fact, the time to settle commercial disputes may be shorter or longer than the time prescribed by law depending on the nature of each case.
|Depending on the nature of each case, the arbitration time will be different. However, in general, the majority of disputes resolved by Arbitration will take a shorter time than the Court.|
Commercial disputes are always an exhausting and costly process. The most important thing when participating in a commercial dispute is to have a reputable, experienced, and enthusiastic lawyer to support. HTLaw’s team of lawyers is always ready to support customers with the highest sense of responsibility!
- Email: firstname.lastname@example.org
- Phone no.: +84 935 439 454.