The Law on Commercial Arbitration Law recently passed by the National Assembly will provide an important legal foundation for businesses to minimise the risks of disputes, said the head of the Vietnam Chamber of Commerce and Industry's legal department, Tran Huu Huynh.

Ordinance on Commercial Arbitration, which officially came into full force on July 1, 2003 (the “Ordinance on Arbitration”), provides proceedings of arbitration for settlement of disputes arising from commercial activities pursuant to parties’ agreement on such a method of dispute settlement

The newly-introduced Law on Commercial Arbitration, effective from January 1 next year, is expected to engineer more effective commercial dispute settlements in Vietnam

This month we include the first in a series of articles covering the recently passed Law on Commercial Arbitration. Continuing the arbitration theme our case commentary looks at a recent decision to set aside an arbitral award. We look at other new instruments covering food safety, credit institutions and real estate development, and we also consider the authorisation of signatories to Vietnamese contracts and the potential obligations and liabilities for board members of companies in financial distress.