On 19 September 2018, the government promulgated Decree No. 124/2018/NĐ-CP amendment and supplement some of articles of Decree No. 63/2011/NĐ-CP on 28 July 2011 Detailing and guiding the implementation of some of articles of the Law on Commercial Arbitration. The Decree took effect from issued date.
Accordingly, Decree No. 124/2018/NĐ-CP has important changes and additions, notably as follows:
– Repeal Article 8.1.d: Removing the composition of the operation registration dossier of the arbitration center for papers proving the operation of the arbitration center;
– repeal components in the operation registration dossier of the branch of the arbitration center at sub-paragraph dd, paragraph 1 Article 10: Documents proving the office of the branch;
– Amendment subparagraph dd paragraph 1 Article 21 For dossiers of establishment of branches of arbitration centers, the composition of dossiers is rejected as the decision to appoint the arbitrator to be the head of the branch;
– Repeal the composition of the branch establishment dossier consists of: A certified copy of the document proving the lawful establishment of the foreign arbitration body issued by a competent foreign body or organization; Introduction of the operation of the foreign arbitration institution; List of arbitrators, expected staff to work at the Branch;
– Amendment paragraph 3 Article 21, accordingly there are only two types of documents for the establishment of representative office: Application for the establishment of a representative office; A certified copy of the Statute of the foreign arbitration institution
– Repeal point b subparagraph d paragraph 2 Article 22 on the composition of the dossier for registration of the branch’s operation, the notification of the establishment of the representative office of the foreign arbitration organization in Vietnam: Documents proving the headquarters of the branch; Decision on the appointment of Branch Manager.
It can be see that, the content has been abolished, amended according to this Decree will contribute to simplify the dossier applying to operate for commercial arbitration center, to facilitate the registration of arbitration centers to facilitate the completion of procedures in accordance with the law. At the same time, contributing to attract foreign arbitration centers to set up branches or representative offices in the territory of Vietnam, this will help the parties have more options for resolving disputes.