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Model Arbitration clause of the Vietnam international Arbitration Centre at the Vietnam Chamber of commerce and industry
Update: 17/12/2016 | 11:01:46 AM - Dragon Law Firm
In drawing up contracts, the Vietnam International Arbitration Centre (VIAC) recommends that parties use the following Model Arbitration Clause:
“ Any dispute arising out of of in relation with this contract shall be resolved by arbitration at the Vietnam International Arbitration Centre (VIAC) in accordance with its Rules of Arbitration”.
Or
“Any dispute arising out of or in relation with this contract shall be resolved by arbitration at the Vietnam International Arbitration Centre at the Vietnam Chamber or Commerce and Industry (VIAC) in accordance with its Rules of Arbitration.”
Parties may wish to consider adding:
a- the number of arbitrators shall be (one or three)
b- the place of arbitration shall be (city and/or country)
c- the governing law of the contract (is/shall be) the substantive law of ().*
d- the language to be used in the arbitral proceedings shall be ().**
Note:
* For disputes which involv a foreign element
** For dispute which involve a foreign element or disputes in which at least one party is an enterprise with foreign investment capital.
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