What are the conditions for and forms of operation of Vietnam-based foreign commercial mediation institutions?
- What are the conditions for and forms of operation of Vietnam-based foreign commercial mediation institutions?
- What are the regulations on the name of a branch of a foreign commercial mediation institution?
- What are the rights and obligations of branches of Vietnam-based foreign commercial mediation institutions?
- What is the application for establishment of branches of foreign commercial mediation organizations?
What are the conditions for and forms of operation of Vietnam-based foreign commercial mediation institutions?
Pursuant to Article 33 of Decree No. 22/2017/ND-CP stipulating the conditions for and forms of operation of Vietnam-based foreign commercial mediation institutions as follows:
- 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.
- 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 are the conditions for and forms of operation of Vietnam-based foreign commercial mediation institutions? (Image from the Intermet)
What are the regulations on the name of a branch of a foreign commercial mediation institution?
Pursuant to Article 34 of Decree No. 22/2017/ND-CP stipulating as follows:
Branches and representative offices of Vietnam-based foreign commercial mediation institutions
1. Branch is a dependent unit of a foreign commercial mediation institution, which is established to carry out commercial mediation activities in Vietnam in accordance with this Decree. A foreign commercial mediation institution shall take responsibility before Vietnamese law for the operation of its branch. The foreign commercial mediation institution shall appoint a commercial mediator to be head of its branch. The head of a branch shall act as the authorized representative of a Vietnam-based foreign commercial mediation institution.
2. Representative office is a dependent unit of a foreign commercial mediation institution, which is established to seek and promote opportunities of mediation activities in Vietnam in accordance with this Decree. The foreign commercial mediation institution shall take responsibility before Vietnamese law for the operation of its representative office.
3. The name of a branch of a foreign commercial mediation institution must contain the word “Chi nhanh” (branch) and the name of the institution.
The name of the representative office of a foreign commercial mediation institution must contain the words “Van phong dai dien” (representative office) and the name of the institution.
Names of branches or representative offices of foreign commercial mediation institutions must comply with Clause 1, Article 20 of this Decree.
Thus, the name of a branch of a foreign commercial mediation institution must contain the word “Chi nhanh” (branch) and the name of the institution.
What are the rights and obligations of branches of Vietnam-based foreign commercial mediation institutions?
Pursuant to Article 35 of Decree No. 22/2017/ND-CP stipulating the rights and obligations of branches of foreign commercial mediation organizations as follows:
- 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.
What is the application for establishment of branches of foreign commercial mediation organizations?
Pursuant to the provisions of Clause 1, Article 36 of Decree No. 22/2017/ND-CP, the application for establishment of branches of foreign commercial mediation organizations is as follows:
- A written request for establishment of a branch or representative office, made according to a form issued by the Ministry of Justice;
- A certified copy of the paper proving the lawful establishment of the institution, issued by a competent foreign authority;
- A written introduction of the institution’s operation;
- The decision appointing a commercial mediator to be the head of the branch or representative office;
- 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.
Note: Foreign-language papers accompanying the written request for establishment of a branch or representative office must have Vietnamese translations which are certified in accordance with Vietnamese law.
Papers issued by foreign agencies or organizations or notarized or certified in foreign countries must be consularly legalized in accordance with Vietnamese law, unless they are exempted from consular legalization under a treaty to which the Socialist Republic of Vietnam is a contracting party.
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