Tiếng Việt
中文An arbitration center that reports inaccurate information on its organization and operations is fined from VND 1,000,000 to VND 3,000,000 (Point k, Clause 1, Article 26 of Decree 82/2020/ND-CP). An arbitration center must report annually on its operations to the Department of Justice where it registered its operations (Clause 10, Article 28 of the Law on Commercial Arbitration 2010).
1. Sanctions for inaccurate reporting on organization and operations
Clause 1, Article 26 of Decree 82/2020/ND-CP:
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Fines from VND 1,000,000 to VND 3,000,000 for: improperly or incompletely implementing the reporting regime; reporting inaccurate information on organization and operations; late notification of changes of the legal representative or branch head; improperly using or incompletely recording statutory books and forms; late registration of changes of name, scope of activities, or head office location.
2. To which authority does an arbitration center report?
Clause 10, Article 28 of the Law on Commercial Arbitration 2010:
An arbitration center must report annually on the Center’s operations to the Department of Justice where the Center registered its operations. In addition, the Center must send the list of arbitrators and any changes to that list to the Ministry of Justice for publication (Clause 3, Article 28).
3. Contents of state management of arbitration
Article 15 of the Law on Commercial Arbitration 2010: state management of arbitration includes: promulgating and guiding legal documents on arbitration; issuing and revoking Establishment Licenses and Operation Registration Certificates; publishing the list of arbitrators; legal dissemination; international cooperation; guiding the training and fostering of arbitrators; inspection, supervision and handling of violations; and resolving complaints and denunciations. The Government exercises unified management; the Ministry of Justice is responsible to the Government.
Notes on applying current legal provisions
Arbitration centers should fully and accurately implement the periodic reporting regime with the Department of Justice and update the arbitrator list with the Ministry of Justice. For advice on commercial arbitration, please contact an ANT Legal lawyer at 0966.475.966.
How can ANT Legal help?
ANT Legal assists with advice on establishing and registering arbitration centers and representing clients in commercial arbitration proceedings.
For quick advice, you may contact a lawyer at 0966.475.966.
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