Commercial Mediation Process
Mediation in finance – banking dispute
11/29/2024Mediation Mediation is one of four dispute resolution methods: Negotiation, Mediation, Arbitration, and Court. In fact, it is very common to achieve that the two parties negotiate on their own, negotiating with each other is mediation or self-reconciliation. Legally, mediation must always have a third person or mediator as a mediator. If there is no third factor, it is the method of negotiation.
Mediation in construction disputes
11/21/2024The causes leading to disputes in the construction sector. Construction disputes are varied. With more than 25 years of experience in dispute resolution in Arbitration and Court, the author finds that construction disputes are mainly concentrated in 5 main causes:
The Role of Mediators in Commercial Mediation
11/14/2024Introduction Mediator is not a commonly known job in Vietnam, contrary to the deep-rooted development of Mediators in other countries. In developed jurisdictions, namely the UK, Hong Kong, and Singapore, a Court, prior to accepting the case, usually encourages parties in dispute to resolve at an out-of--Court mediation center to assure the objectivity of a mediator and the confidentiality of the mediation process. Normally, to be a professional mediator, a person needs to meet specific standards of expertise, soft skills, ethics, and – in the circumstances – age limit. The age limit depends on an individual’s experience, but to be a professional mediator, it is commonly advisable that he is older than 35 or 40 years old.
Post-mediation with settlement agreement: Voluntary and Imperative Enforcement
11/11/2024Up to 2023, 25 institutions, including 17 mediation centres and 8 arbitration centres with the additional unit providing mediation, were established in accordance with the approval of the Ministry of Justice. Currently, KCAB International Arbitration Committee (KCAB International) is the first and only arbitration institution to open its liaison office in Vietnam; however, there is no foreign mediation institution’s office opened in Vietnam. Regarding the number of mediators, according to the list established by the Ministry of Justice, there are more than 100 registered ad-hoc mediators, not to include the listed mediators of mediation institutions. Regarding the number of cases, Vietnam Mediation Centre (VMC) has received 36 cases from 2018 to March 2023, 91% of which parties reached a mediation settlement agreement and enforced it voluntarily.
Optimizing Dispute Resolution Costs in Commercial Mediation and The Role of Attorneys in Commercial Mediation
11/14/2024Misconceptions about commercial mediation Enterprises' decision to choose a dispute resolution method is greatly influenced by what attorneys or in-house counsels advise them. In particular, commercial mediation is a method that brings high efficiency and has the potential for development. However, this method has yet to receive good recognition from many attorneys and has not been chosen by clients. The cause of this comes from several misconception, mainly as follows.
Decree No. 22/2017/ND-CP on Commercial Mediation
03/01/2020On February 24, 2017, The Government promulgates the Decree No. 22/2017/ND-CP on commercial mediation.
Enforcement of Mediated Settlement Agreements in Vietnam: A Step Forward the International Trend?
03/01/2020On 24 February 2017, the Government of Vietnam promulgated Decree No.22/2017/ND-CP on Commercial Mediation (the “Decree”). It is the first legislation specifically governing commercial mediation in Vietnam.
Commercial dispute mediation – Friendly and win-win
03/01/2020In 2018, a range of FTA agreements have been into effect, the competition becomes more cutthroat. Therefore, the risk of disputes among Vietnamese enterprises as well as disputes between Vietnamese enterprises and foreign enterprises have increased.
What is Mediation?
03/01/2020In essence, mediation (or Reconciliation, Conciliation) is the process of negotiating between parties in order to settle the disputes with the help from a third party (called mediator).
