Currently, dispute settlement by commercial arbitration is increasingly popular and popular in Vietnam. Instead of suing in Court, the plaintiff will file a petition and ask the Arbitration Center to settle. However, what should the plaintiff keep in mind when participating in a dispute resolution lawsuit using the commercial property? Let’s follow TNTP’s article below to find the answer.
I. Disputes are resolved by Commercial Arbitration when the parties have an arbitration agreement
According to Clause 1, Article 5 of the Law on Commercial Arbitration 2010, disputes are resolved by arbitration if and only if the parties have an arbitration agreement Arbitration agreements may be made before or after a dispute.
At the same time, according to Clause 1, Article 16 of the Law on Commercial Arbitration 2010, the arbitration agreement can be established in two forms: First, the arbitration clause; or two is a separate agreement. In particular, the arbitration clause is usually defined in the contract signed between the parties or between the annexes to the contract. As for a separate agreement, the parties can establish at the time of the dispute that there is no provision in the contract about the material clause talent.
In addition, to resolve disputes in commercial arbitration, the parties also need to ensure that the arbitration agreement is not invalidated as prescribed in Article 18 of the 2010 Law on Commercial Arbitration; or that the arbitration agreement cannot be implemented as prescribed in Article 4 of Resolution 01/2014/NQ-HDTP.
2. Disputes are resolved by Commercial Arbitration when the statute of limitations remains
In principle, arbitration proceedings only begin when there is a petition filed by the plaintiff and the application must be filed when the dispute has a statute of limitations.
Currently, the statute of limitations for disputes resolved by Commercial Arbitration is determined by specialized law. If there is no specialized law or specialized law that does not provide for the statute of limitations for initiating lawsuits, the statute of limitations for initiating lawsuits under arbitration procedures is 02 years from the time of infringement of legitimate rights and interests.
3. Plaintiffs make and file Petitions
The petition must fully state the contents as prescribed in the procedural rules of the arbitration center; ensure a sufficient number of copies of the Petition and other required documents in the petition (03 copies if the agreement chooses the Arbitration Committee) single account, 05 sets if agreed The arbitral tribunal consists of 03 arbitrators)
Documents and evidence accompanying the Petition, the application must be submitted in addition to the arbitration agreement, evidence, and related documents. During arbitration proceedings, applicants may be asked to provide additional evidence and documentation to the public.
Regarding the arbitrator, the petitioner must choose an arbitrator or ask the arbitration center to appoint an arbitrator. Choosing a talent should consider several factors such as appropriate discipline, experience, prestige, and conflict benefit or not ?
4. Plaintiffs take note when deciding the value of the lawsuit
According to the provisions of arbitration proceedings, when participating in the case, the plaintiff must pay the arbitration fee for the suit’s merits. Where the plaintiff gives the too high and unreasonable value of the lawsuit. After the arbitral award, if the plaintiff does not win the case or does not win the full value of the lawsuit, the plaintiff must bear the arbitration fee for that non-winning part.
Therefore, when initiating a lawsuit at the arbitration center, the parties need to calculate and give a reasonable initiation value, avoiding the situation of being subject to arbitration fees more than the value of winning the case.
With the nature of speed, flexibility, efficiency, and finality along with other advantages, dispute resolution by Arbitration trade is increasingly chosen by more and more people. However, the plaintiff should note the TNTP contents analyzed above to effectively use.
Above is the content of the article “Note to the plaintiff when resolving disputes by Commercial Arbitration”. Hope this article on TNTP will be useful to readers.