Procedures for termination of operation of arbitration centers in Vietnam

Order and procedures for termination of operation of arbitration centers are specified in Articles 16, 17 of Decree No. 63/2011/NĐ-CP of Vietnam’s Government as follows:

1. Termination of operation of arbitration centers according to their charters:

- In case of termination of operation of an arbitration center according to its charter under Point a, Clause 1, Article 29 of the Law on Commercial Arbitration, 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; and publish the operation termination on three consecutive issues of a central daily or a daily of the locality in which its 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 this Article, 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 of the arbitration center, the Ministry of Justice shall issue a decision on 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.

2. Termination of operation of arbitration centers in case of revocation of establishment licenses

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 this Decree, 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 this Article, 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.

View more details at Decree No. 63/2011/NĐ-CP of Vietnam’s Government, effective from September 20, 2011.

Thuy Tram

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