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Resolution of commercial disputes by mediation in Vietnam

Resolution of commercial disputes by mediation is one of the current commercial dispute resolution measures. However, this method has not yet been widely used because the majority of businessmen do not fully grasp the advantages and legal provisions applicable to this method. The habit of resolving the dispute by the court or the arbitration still remains and is preferred over the resolution of commercial disputes by mediation.

Definition

The resolution of commercial disputes by mediation is a method of dispute resolution with the participation of a third party as a mediator to support and propose to the parties to the dispute resolution for dispute elimination.

Principles of the resolution of commercial disputes by mediation

The resolution of commercial disputes by mediation must be based on the following principles:

Conditions applicable for the resolution of commercial disputes by mediation

In order to enforce the resolution of commercial dispute by mediation, the parties must reach an agreement. The parties to the dispute can reach an agreement before, during, or after the dispute. The agreement can be part of the contract terms or it can be a separate agreement.

Procedures for the resolution of commercial disputes by mediation

Value of execution of achieved result of mediation

The advantage of the method of the resolution of commercial disputes by mediation is that one of the parties of the dispute has the right to request the Court to acknowledge the successful outcome in mediation. The Court’s decision of acknowledgement of the successful outcome in mediation takes effect immediately, without being appealed or protested according to appellate procedures, and is guaranteed to be enforced in accordance with the law on civil judgment enforcement.

If you have difficulties with related matters of the resolution of commercial disputes by mediation, please contact us: Phuoc & Partners is a professional consulting firm established in Vietnam and currently has nearly 100 members working in three offices in Ho Chi Minh City, Hanoi and Danang. Phuoc & Partners is also rated as one of the leading consulting firms specializing in business law in Vietnam that has leading practice areas in the legal market such as Labour and EmploymentTaxationMerger and acquisitionLitigation. We are confident in providing customers with optimal and effective service.

Summary
Article Name
Resolution of commercial disputes by mediation in Vietnam
Description
Resolution of commercial disputes by mediation is one of the current commercial dispute resolution measures. However, this method has not yet been widely used
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Phuoc & Associates
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