Whether the Vietnamese Court could rescind foreign awards or not?

In answer to the question of whether the Vietnamese Court could rescind foreign awards or not, we should get a mutual agreement that the foreign award is understood as an award pronounced by a foreign Arbitration from outside or within the Vietnamese territory which is selected as agreed by the parties to settle their disputes.

For an ongoing answer to the question of whether the Vietnamese Court could rescind foreign awards or not, the Vietnamese Court will consider recognising and enforcing in Vietnam based on two basic principles: (i) on the basis of international treaties; (ii) on the principle of reciprocity. To be recognized and enforced in Vietnam, foreign Arbitral awards shall also meet the following requirements:

The judgment creditors or their lawful representatives may submit the application to the Vietnamese Court for recognition and enforcement of foreign Arbitral awards;
The persons who are obliged to execute award of foreign arbitrators residing or working in Vietnam, or the judgment debtors being agencies or organisations headquartered in Vietnam or their properties related to the enforcement of the foreign Arbitral award exist in Vietnam at the time when the applications are submitted.
The foreign Arbitrator’s award does not fall into the cases of non-recognition as specified in Article 459 of the CPC.

Thus the answer is yes to the question of whether the Vietnamese Court could rescind foreign awards or not if the judgement creditor for recognition and enforcement of foreign Arbitral awards fail to fulfil one of the above requirements.

Noting that cancelling foreign Arbitral awards does not fall under the jurisdiction of the Vietnamese Court, but the Vietnamese Court has the authority to issue a decision to recognise and enforce or a decision to not recognise in Vietnam according to the strict procedures prescribed in the Code of Civil Procedure and other relevant legal documents.

Above is an overview answer to the question of whether the Vietnamese Court could rescind foreign awards or not. If you have trouble with finding a law firm providing legal assistance regarding a specifically legal issue on whether the Vietnamese Court could rescind foreign awards or not, please do not hesitate to 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 specialising in business law in Vietnam that has leading practice areas in the legal market such as Labour and Employment, Taxation, Merger and acquisition, Litigation. We are confident in providing customers with optimal and effective civil litigation service.