Procedures for
Recognition and Enforcement of Foreign Arbitral Awards in Vietnam
In the era of
globalization, cooperation between countries have been established in many
aspects and fields. Especially in the judicial field, the recognition and enforcement of foreign arbitral awards are important procedure in order to
facilitate law enforcement between countries and protect the legitimate
interests of the litigants.
Arbitral Award Enforcement Law Firm in Vietnam
The recognition and
enforcement of foreign arbitral awards in Vietnam is a specific procedure.
Accordingly, the court will be the authority to conduct the review to recognize
the validity of foreign arbitral awards to be enforced within the territory of
Vietnam. When receiving a request for recognition of a foreign arbitral award,
the court will consider and accept the settlement according to the prescribed
principles. Specifically, Vietnamese courts only recognize and enforce foreign
judgments in the following cases: (i) on the basis of international treaties;
(ii) on the principle of reciprocity. Therefore, it can be seen that not all
requirements are recognized in Vietnam.
To process the request
for recognition and enforcement, depending on the case, the requesting
individual or organization must file a request at the Ministry of Justice or
directly at the court. Furthermore, in order to ensure that the petition is
valid, the petition must satisfy the conditions of form, extent and status of
the subject entitled to file according to the regulations that the applicant
must pay attention to. In addition, the time limit for filing a request for
recognition and enforcement of a foreign arbitral award is 03 years from the
date on which the foreign arbitral award takes legal effect. However, this time
limit can also be extended if it can be proved that the cause of the delay in
filing the application is under force majeure circumstances.
After receiving the
application and considering accepting the settlement, in case the dossier is
sent to the Ministry of Justice, the Ministry of Justice shall consider the
application and enclosed documents and request the applicant to pay the fee as
prescribed at the Office of the Ministry of Justice, then transfer the file to
the authoritative court. Within 05 working days from the date of receipt of the
dossier, the authoritative court shall consider and accept it as prescribed.
Accordingly, after considering,
the court will hold a meeting and issue a decision to recognize or not to
recognize the foreign arbitral award and notify relevant parties. Relevant
individuals and organizations have the right to appeal or protest against that
decision within 07 to 15 days from the date the court issues the decision.
Where a recognized award
is to be enforced in Vietnam, the parties concerned are obliged to enforce that
award. In case the party does not voluntarily execute the judgment, the
judgment enforcement agency will carry out similar enforcement according to the
provisions of the law on judgment enforcement in Vietnam.
At present, foreign
arbitral awards might encounter challenges in recognition and enforcement in
Vietnam due to complexed procedures. Therefore, it is important for individuals
and organizations to learn and strictly follow the procedures as prescribed by
law so that the process of recognition and enforcement in Vietnam can be
carried out smoothly.
You could learn more about enforcement of foreign arbitral awards in Vietnam or contact our Arbitration lawyers in Vietnam for advice via email ant@antlawyers.vn or call our office at (+84) 24 730 86 529
ANT Lawyers, as a reliable law firm in Vietnam, we focus on providing possible solutions that best meet the needs of legal and business clients. We help customers achieve their goals while protecting their interests, minimizing risks, and complying with the law.
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