Pursuant to Chapter V, Law on Commercial Arbitration N0.54/2010/QH12, passed on June 17, 2010, and taking effect on January 1, 2011....
Criteria of Arbitrators
Update: 12/12/2016 | 8:21:26 AM - Dragon Law Firm
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According to Clause 1, Article 20, Commercial Arbitration 2010, the criteria to become an Arbitrator includes:
a) Having the full civil acre capacity under the Civil Code;
b) Possessing a university degree and having at leat 5 years* work experience in the trained discipline;
c) In special cases, an expert who has high professional qualifications and much practical experience, though not satisfying the requirement specified at Point b of this Clause, may also be selected as arbitrator.
According to VIAC Rules, the Criteria to become Arbitrator of VIAC:
1. General criteria:
a- Age from 30 to 70;
b- Have university degree and at least 8 years work experience in the trained discipline; except for high professional qualifications and much practical experience;
c- Commit to settle issues independently, objectively, fairly and quickly;
d- Willing to participate in activities of the Center; devote to the development of the Center;
In addition to the conditions specified in Paragraph 1, the person applying for admission consideration as arbitrator must meet one of the following conditions:
a- To be the arbitrator in three disputes resoluted by arbitrator before, or
b- In the list of Arbitrators of the Arbitration centers are recognized worldwide and has participated to settle at least one disputes in this organization; or
c- Have introdution of professional associations in the whole country, or universities or research institutes, or
d- Have the introdution of at least one member of the Central Excutive Committee.
The individual meets above conditions don’t guarantee that he will be naturally admitted as arbitrator by Center. The decision is the Central Excutive Committee’s jurisdiction.
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