- STAC is the Arbitration Center Professional with the strength of specializing in resolving disputes arising in the field of finance, banking credit is trusted and are trustworthily chosen by many banks.
- Professional and well-trained secretariat.
- An independent organization, founded by prestige, reputable and experienced arbitrators in the field of law.
- The staff of Arbitrators at the STAC are high-ranking experts in various areas who directly resolves disputes professionally.
- Willingly answering all queries on arbitral proceedings are timely responded
- Ensuring the convenient and fast communication between STAC - disputing parties - Arbitral Tribunal.
Ensuring maximum freedom of agreement between the disputing parties on:
- The selection of Arbitrators, qualifications for and nationality of Arbitrators
- Language of arbitration (in disputes with a foreign element or disputes in which at least one party is an enterprise with foreign investment capital).
- Applicable law (in disputes with a foreign element)
- Flexibility of place of arbitration
- Flexibility of time for dispute settlement
- The Rules of Arbitration are transparent and uniformly applied in accordance with the agreement of the parties
- The access to documents of the parties during the arbitration proceedings is guaranteed
- Schedule of Arbitration Costs is listed publicly
- Arbitrators resolve disputes independently, impartially and objectively in accordance with laws and satisfy international standards.
- Arbitrators have in-depth expertise in many fields
- The information of dispute resolution keeps confidential.
- Time of settlement is much more quickly than the time of court process and the cost is reasonable
- Arbitral Awards rendered by VIAC are directly sent to Vietnamese Enforcement Agencies without conducting the procedures for recognition and enforcement at a Court.
- In cases that are enforced in foreign countries, VIAC Arbitral Awards shall be enforced in more than 150 nations and territories on which are members of the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York, 1958) (the "New York Convention")
- Legal grounding:
- Decision No. 799/QD-BTP dated June 5, 2017 of the Ministry of Justice on the issuance of license to establish an Arbitration Center in Vietnam.
- License No. 17/BTP/GP dated June 5, 2017 of the Minister of Justice.
- Operation registration certificate number: 14/TP/DKHĐ-TT issued by the Department of Justice on June 30, 2017
Field of activities
- The Center is a non-governmental organization, has legal status, own seal and separate account, operates on its own financial autonomy in accordance with the provisions of Vietnamese law and the provisions of the Charter of the Center.
STAC resolves the following disputes:
Objectives of Trade Arbitration Centre ‘s activities
- Being a professional arbitration center for debt settlement disputes in the fields of finance, credit, banking;
- Disputes between the parties arising from commercial activities;
- Disputes arising between the parties in which at least one party has commercial activities;
- Other disputes between the parties as provided for by law shall be resolved by arbitration.
About The Co-founding Arbitrators
- Promoting the development of dispute resolution methods by arbitration in accordance with the law in a fair, convenient and fast manner.
- Any change in the field of operation, the purpose of the Center shall be consistent with the provisions of Vietnamese law from time to time and must be approved in written form by the Ministry of Justice prior officially implemented.
The Co-founding Arbitrators are:
- Enthusiastic and experienced in the field of dispute resolution by arbitration.
- They are veteran, well known and reputable legal experts in Vietnam.
- Holding high positions in the judicial branch, ensuring that Arbitral awards are effectively enforced in accordance with the provisions of law.