Hello Lawyer! My company specializes in supplying rice cookers for a consumer electrical store in Bac Ninh. However, recently there has been a trade dispute. Currently, I still have not determined which method I should use to solve it. I also do not understand the advantages and disadvantages of commercial dispute resolution methods. Therefore, today I would like to send a question to the Lawyer; Hoping for an answer. Thank you!
Thank you for sending us your question. With your question, Lawyer X would like to offer a solution for your question as follows:
Legal ground:
Commercial Law 2005.
Law on commercial arbitration 2010.
Commercial dispute resolution methods
Settlement of disputes by negotiation:
Advantage:
With the fast, convenient, flexible nature, less time and money, the negotiation method is the first choice. Because this method is implemented by an internal settlement mechanism through the disputing parties discussing and reaching an agreement to resolve these disagreements themselves.
In addition, this settlement is not binding by complicated legal procedures because Vietnamese law only recognizes this as a commercial settlement method, but there are no regulations governing the settlement mechanism. Besides, the parties in the process of entering into the contract have more mutual understanding and strengthen the relationship.
Limit:
Whether the negotiation is successful or not depends on the goodwill and attitude of the parties involved. And the outcome of the negotiation depends on the willingness of the parties to implement it because this method is still only arbitrary and informal.
Dispute resolution by mediation
Advantage:
Resolving commercial disputes by conciliation also has many advantages because of its simplicity; convenience; fast; flexibility; less money; less subject to the principles or activities of public authorities. Especially with the participation of a third party, both ensuring professional understanding in the field of dispute and satisfying the beliefs of the parties contributes significantly to the success of the conciliation trial in commercial disputes.
Limit:
Depending on the self-discipline of the parties to the dispute, when if one of the parties is not honest; Without cooperation, conciliation is also difficult to get the expected results. Mediation procedures are also prone to distortions; taking advantage of becoming a tool to delay the obligations of the party and make the party with an infringing interest likely to lose the right to sue. The cost will be more expensive than the negotiation method and if the conciliation fails, this cost will become an additional burden for the disputing parties.
Settlement of disputes by arbitration
Advantage:
Dispute resolution by arbitration is subject to certain procedures. The principle of non-disclosure arbitration helps to protect the reputation; confidentiality of the parties in the business. This method is not limited to the territory, so the parties can choose any center to resolve their conflicts. The award is final, after the award is made by the arbitrator, the parties have no right to appeal in any other organization.
Especially, for a dispute when payment is due, but one party does not pay and both parties believe that the other party has breached the contract and a compensation problem arises. The settlement by commercial arbitration will be highly accurate and flexible, the parties are obliged to perform.
Limit:
The arbitration fee is expensive if the dispute takes longer. The enforcement of an arbitral award is not always as convenient as the enforcement of a court judgment or decision.
Dispute Resolution by Court
Advantages:
The court’s decision is highly coercive. Contributing to business entities to raise awareness and respect the law. The procedures in the court method are very complex. Thanks to the principle of two levels of trial, all errors in the dispute settlement process can be detected and remedied. The parties have the right to appeal when the trial judge is finished but this has not been immediately enforced.
Limit:
The dispute resolution process is very long. The public trial is not appropriate with the nature of business operations as well as the psychology of the enterprise. It lasted quite a while. Actual court fees in Vietnam are lower than arbitration fees.
Problem-solving
Resolving commercial disputes is never an easy thing, and how to get the most optimal solution, bringing full benefits to both sides, has strict requirements. certain technical requirements is an even more difficult operation. The parties should consider and find the most suitable settlement method to ensure the interests of the parties.
Please read more:
- Advantages and disadvantages of making pre-wedding property agreement
- Legal regulations about promotional activities according to Vietnamese law
Related question
Registration of commercial arbitration awards is the right of the parties to the dispute. Only the arbitral award of the case may be registered.
A goods sale and purchase contract is an agreement between parties whereby the seller is obliged to deliver the goods; transfer ownership of goods to the buyer and receive payment; the buyer is obliged to pay the seller; receipt of goods and ownership of the goods under the agreement.
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