The availability of multiple commercial dispute resolution methods, specifically, via Litigation or Commercial Arbitration, allows parties to have options in the resolution of their conflict in commercial activities. Suppose the Court exercising judicial power is deemed as the judicial authority of the Socialist Republic of Vietnam. In that case, Arbitration is a private judicial institution,…
Workshop “Claims Under FIDIC Contracts – What Should FIDIC Users Take Notes Of?”
During the implementation of FIDIC contracts, circumstances or events that give rise to claims are very common: the Employer delays in handing over the site or delays in approving VOs, the Employer delays in approving the design leading to construction progress is affected, the Contractor is late in progress or delay in remedying defects,… and countless other circumstances.
In such circumstances, it becomes crucial for both the Employers and Contractors to have a clear understanding of the procedures for serving the valid claims. This understanding helps in avoiding unnecessary errors that could lead to the loss of rights or adversely affect their interests. Proper comprehension and application of the regulations on claims in FIDIC contracts play a pivotal role in preventing encountering challenging and inequitable situations.
To foster an exchange of perspectives and provide comprehensive insights into the topic of claim under FIDIC contracts within the construction community, CNC is pleased to announce the organization of a Workshop
Prolongation Cost Claims – 6 Notable Issues Prolongation Cost Claims Nowadays, Prolongation Cost Claims have become an indispensable element in the management of any Construction Contract. Accordingly, Prolongation Cost Claims may be interpreted as a form of financial compensation for Contractors when the Time for Completion of Work is prolongated beyond the planned schedule.[1] From…
Vietnam’s Direct Power Purchase Agreement (DPPA) Program at a Glance
On 03 July 2024, the Government of Vietnam issued Decree No. 80/2024/ND-CP on Direct Power Purchase Agreements between Renewable Energy Generation Corporations and Large Power Consumers (“Decree 80”), which would immediately take effect from the date of issue.
Vietnam: Pilot policies addressing challenges of commercial housing projects
The Ministry of Natural Resources and Environment recently submitted to the Government the draft of the National Assembly’s Resolution on the pilot implementation of commercial housing projects in non-residential lands whose land use rights are to be obtained via agreements or already available (“Pilot Draft”).
Land Law No. 31/2024/QH15 dated 18 January 2024 (“2024 Land Law ”) was approved by the National Assembly of Vietnam and will take effect as of 01 January 2025 (with the exception that some of the provisions will take effect sooner).
Currently, Mergers and Acquisitions (M&A) are considered popular and effective strategies to expand the enterprises’ scope of business. Therefore, training sessions for internal members are of great importance as they would help to ensure strict management of the M&A Procedure, and these training sessions are often held by CNC.
Precedent No. 06/2024 – Applicable Law for Construction Contract
The debate on the applicable law of construction contracts will end if the Draft Precedent No. 06/2024 is approved.
Refusal of Recognition and Enforcement of Foreign Arbitral Awards in Vietnam
The bases upon which to refuse recognition and enforcement of Foreign Arbitral Awards in Vietnam have recently received plenty of concern due to the increasing demand for arbitral awards to be recognized and enforced in Vietnam. Due to the principle of sovereignty, the recognition and enforcement of foreign arbitral awards is subject to potential refusal….