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DETERMINING LATE-PAYMENT INTEREST IN ARBITRAL PROCEEDINGS: COMMENTARY ON DECISION NO. 131/2024/QĐ-PQTT ON THE SETTING ASIDE OF AN ARBITRAL AWARD
Decision No. 131/2024/QĐ-PQTT dated June 27, 2024 of the People’s Court of Ho Chi Minh City is a notable practical case concerning a request to set aside an arbitral award in relation to the determination of late-payment interest.[1]
ARBITRATION FEES AT MCAC: PAYMENT OBLIGATIONS, ALLOCATION PRINCIPLES, AND REFUND CASES
When choosing arbitration to resolve disputes, parties are typically concerned about the fees and expenses payable, the timing of their financial obligations, the principles governing cost allocation, and the circumstances under which arbitration fees may be refunded.
CHOICE OF LANGUAGE IN ARBITRAL PROCEEDINGS: COMMENTARY ON DECISION NO. 1191/2021/QD-PQTT OF THE PEOPLE’S COURT OF HO CHI MINH CITY SETTING ASIDE AN ARBITRAL AWARD
In arbitral proceedings involving a foreign element, or where at least one party is a foreign-invested enterprise, the parties are entitled to agree on the language to be used for resolving their dispute. The Arbitral Tribunal may determine the language of the proceedings only in the absence of such an agreement.
SELECTING THE NUMBER OF ARBITRATORS: BALANCING COST OPTIMISATION AND THE COMPREHENSIVENESS OF THE AWARD
Commercial arbitration respects the parties’ freedom of agreement. In particular, selecting an arbitral tribunal composed of one Arbitrator or three Arbitrators directly affects two core objectives: the speed/cost of the proceedings and the quality/impartiality of the award.
CHANGES TO CORPORATE INFORMATION – KEY CONSIDERATIONS IN COMMERCIAL ARBITRATION PROCEEDINGS
Changes to an enterprise’s fundamental information, such as its name, registered office address, or legal representative, during the resolution of a dispute by arbitration may affect the validity of the service and receipt of procedural documents.
LEGAL COMMENTARY: COUNTERCLAIMS IN ARBITRAL PROCEEDINGS – DECISION NO. 07/2017/QĐ-PQTT OF THE PEOPLE'S COURT OF HANOI ON THE REFUSAL TO SET ASIDE AN ARBITRAL AWARD
In arbitral proceedings, the Respondent is entitled not only to submit a Statement of Defence in response to the Claimant's claims but also to bring counterclaims against the Claimant on matters related to the dispute. However, an independent claim by the Respondent may be considered and resolved by the Arbitral Tribunal only if it is submitted in the proper form and in accordance with the applicable procedures for counterclaims.
Decision No. 07/2017/QĐ-PQTT of the People's Court of Hanoi provides a noteworthy practical example of the consequences arising when the Respondent raises a claim for damages in its Statement of Defence without submitting a separate Counterclaim.