Vietnam: What are the procedures for terminating the operation of arbitration centers in case of revocation of establishment licenses?
- In what cases will a branch of an arbitration center in Vietnam terminate its operation?
- What are the procedures for terminating the operation of arbitration centers in Vietnam according to their charters?
- What are the procedures for terminating the operation of arbitration centers in Vietnam in case of revocation of establishment licenses?
In what cases will a branch of an arbitration center in Vietnam terminate its operation?
Pursuant to Clause 1, Article 18 of Decree 63/2011/ND-CP as follows:
Termination of operation of branches or representative offices of arbitration centers
1. A branch of an arbitration center shall terminate its operation in the following cases:
a/ Under the arbitration center’s decision on the termination of operation of its branch;
b/ The arbitration center terminates its operation or has its establishment license revoked;
c/ The branch has its operation registration paper revoked in accordance with law.
2. At least 30 days before the date of termination of operation of its branch, an arbitration center shall notify in writing the Ministry of Justice and the provincial-level Justice Departments of the localities in which its head office and its branch are located of the termination of operation of the branch.
The arbitration center shall full pay its debts and completely settle cases it has accepted, unless otherwise agreed upon.
Within 30 days after the date of termination of operation of its branch, the arbitration center shall return the branch’s operation registration paper to the provincial-level Justice Department with which the branch has registered operation; and return the branch’s seal to a competent agency.
3. Representative offices shall terminate their operation under their arbitration centers’ decisions. At least 10 working days before the date of termination of operation of its representative office, an arbitration center shall notify the operation termination to the Ministry of Justice and the provincial-level Justice Departments of the localities in which its head office and representative office are located.
Thus, according to the above provisions, a branch of an arbitration center shall terminate its operation in the following cases:
- Under the arbitration center’s decision on the termination of operation of its branch;
-The arbitration center terminates its operation or has its establishment license revoked;
- The branch has its operation registration paper revoked in accordance with the law.
What are the procedures for terminating the operation of arbitration centers in Vietnam according to their charters?
Pursuant to Article 16 of Decree 63/2011/ND-CP on the procedures for termination of operation of arbitration centers according to their charters as follows:
- In case of termination of operation of an arbitration center under its chapter, at least 30 days before the time of operation termination, the arbitration center shall notify in writing the operation termination to the Ministry of Justice and the provincial-level Justice Department with which the arbitration center has registered its operation;
+ Publish the operation termination on three consecutive issues of a central daily or a daily of the locality in which it has registered its operation.
+ The arbitration center shall fully pay its debts and completely settle cases it has accepted unless otherwise agreed upon.
- Within 7 working days after completing the procedures specified in Clause 1 of Decree 63/2011/ND-CP, the arbitration center shall report in writing on the completion of procedures to the Ministry of Justice.
- Within 7 working days after receiving a report from the arbitration center, the Ministry of Justice shall issue a decision on the termination of operation of the arbitration center.
- The arbitration center shall return its establishment license to the Ministry of Justice and its operation registration paper to the provincial-level Justice Department with which it has registered its operation and return its seal to a competent agency.
What are the procedures for terminating the operation of arbitration centers in Vietnam in case of revocation of establishment licenses?
Pursuant to Article 17 of Decree 63/2011/ND-CP, the procedures for terminating the operation of arbitration centers in Vietnam in case of revocation of establishment licenses are:
- In case an arbitration center has its establishment license revoked under Point b, Clause 1, Article 29 of the Law on Commercial Arbitration and Article 15 of Decree 63/2011/ND-CP, within 60 days after the issuance of the decision to revoke its establishment license, the arbitration center shall fully pay its debts and completely settle cases it has accepted unless otherwise agreed upon.
- Within 10 days after the issuance of the decision on revocation of its establishment license, the arbitration center shall publish the operation termination on three consecutive issues of a central daily or a daily of the locality in which it has registered its operation.
- Within 7 working days after the completion of the procedures specified in Clauses 1 and 2 of Article 17 of Decree 63/2011/ND-CP, the arbitration center shall report in writing on the completion of these procedures to the Ministry of Justice and the provincial-level Justice Department with which it has registered its operation and return its seal to a competent agency.
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