What is the application for grant of licenses for establishment of branches or representative offices of Vietnam-based foreign commercial mediation institutions?
- What are the forms of operation of Vietnam-based foreign commercial mediation institutions?
- What are the rights and obligations of branches and representative offices of Vietnam-based foreign commercial mediation institutions?
- What is the application for grant of licenses for establishment of branches or representative offices of Vietnam-based foreign commercial mediation institutions?
What are the forms of operation of Vietnam-based foreign commercial mediation institutions?
Pursuant to Article 33 of Decree 22/2017/ND-CP stipulating the conditions for and forms of operation of Vietnam-based foreign commercial mediation institutions as follows:
Conditions for and forms of operation of Vietnam-based foreign commercial mediation institutions
1. Foreign commercial mediation institutions that are lawfully established and operate in foreign countries and respect the Constitution and laws of the Socialist Republic of Vietnam may operate in Vietnam in accordance with this Decree.
2. Foreign commercial mediation institutions may operate in Vietnam in the following forms:
a/ Branches of foreign commercial mediation institutions (below referred to as branches);
b/ Representative offices of foreign commercial mediation institutions (below referred to as representative offices).
According to the above provisions, foreign commercial mediation institutions may operate in Vietnam in the following forms:
- Branches of foreign commercial mediation institutions (below referred to as branches);
- Representative offices of foreign commercial mediation institutions (below referred to as representative offices).
What is the application for grant of licenses for establishment of branches or representative offices of Vietnam-based foreign commercial mediation institutions? (Image from the Internet)
What are the rights and obligations of branches and representative offices of Vietnam-based foreign commercial mediation institutions?
Pursuant to Article 35 of Decree 22/2017/ND-CP stipulating this content as follows:
(1) Rights and obligations of a branch
- To rent a working office to serve its operation;
- To recruit Vietnamese and foreign employees in accordance with law;
- To open Vietnam dong and foreign currency accounts at banks licensed to operate in Vietnam to serve its operation;
- To transfer its incomes abroad in accordance with Vietnamese law;
- To have a seal as prescribed by law;
- To operate for proper purposes and within the scope and period stated in its establishment license;
- To appoint mediators to conduct mediation as authorized by the foreign commercial mediation institution;
- To provide commercial mediation services;
- To archive files and provide copies of written records of mediation results at the request of disputing parties or competent state agencies;
- To report on the organization of commercial mediation activities to the provincial-level Department of Justice of the locality where it has registered its operation on an annual basis and upon request;
- Other rights and obligations as prescribed by law.
(2) Rights and obligations of a representative office
- To rent a working office to serve its operation;
- To recruit Vietnamese and foreign employees in accordance with law;
- To open Vietnam dong and foreign currency accounts at banks licensed to operate in Vietnam to serve its operation;
- To have a seal as prescribed by law;
- To operate for proper purposes and within the scope and period stated in its establishment license;
- Other rights and obligations as prescribed by law.
- To seek and promote opportunities of commercial mediation activities in Vietnam;
- To refrain from carrying out commercial mediation activities in Vietnam; to carry out only activities to promote and advertise commercial mediation activities in accordance with Vietnamese law;
- To report on its organization and activities to the provincial-level Department of Justice of the locality where it is located on an annual basis and upon request.
What is the application for grant of licenses for establishment of branches or representative offices of Vietnam-based foreign commercial mediation institutions?
According to the provisions of Article 36 of Decree 22/2017/ND-CP on the application for grant of licenses for establishment of branches or representative offices of Vietnam-based foreign commercial mediation institutions as follows:
- A foreign commercial mediation institution that wishes to establish a branch or representative office in Vietnam shall send 1 set of dossier to the Ministry of Justice, comprising:
(1) A written request for establishment of a branch or representative office, made according to a form issued by the Ministry of Justice;
(2) A certified copy of the paper proving the lawful establishment of the institution, issued by a competent foreign authority;
(3) A written introduction of the institution’s operation;
(4) The decision appointing a commercial mediator to be the head of the branch or representative office;
(5) A list of commercial mediators and staff members expected to work at the branch; or a list of staff members expected to work at the representative office.
LawNet
