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 apostille) 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).
Contract dispute lawyers in Vietnam
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.
We help clients overcome cultural barriers and
achieve their strategic and financial outcomes, while ensuring the best
interest rate protection, risk mitigation and regulatory compliance. ANT
lawyers have Dispute
Attorneys in Hanoi, Ho
Chi Minh City and Danang, will help customers conveniently drafting contracts
and assist in resolving contract disputes in Vietnam.
