Decree No. 124/2018/ND-CP (“Decree 124”) dated 19 September 2018 amending Decree No. 63/2011/ND-CP (“Decree 63”) dated 28 July 2011 of the government guiding some articles of Law on Commercial Arbitration took effect on 19 September 2018. Decree 124 has some changes to simplify procedures for issuance licensing and operation registration of Commercial Arbitration Centers in Vietnam. Some remarkable points are as follows:
1. Regarding the application file for operation registration of a Commercial Arbitration Center, Decree 124 removes requirement of an original or notarized copy of the Document evidencing the headquarter of the Arbitration Center. Similarly, regarding the operation registration of the branch of a Commercial Arbitration Center, requirement on the original or notarized copy of the Document evidencing the office of the branch is also removed;
2. Regarding the operation of foreign Commercial Arbitration Centers in Vietnam, operating conditions on application for the license for setting up a branch or representative office are also simplified. Specifically, requirements at point b, point c, point e of Article 21.2 in Decree 63 relevant to (i) the notarized copy of the document proving legal establishment of foreign Arbitration organization issued by the foreign competent authorities; (ii) introduction on the operation of the foreign Arbitration organization; and (iii) list of arbitrators and staff intending to work at the branch, are removed. Besides, requirement regarding certified copies of Decision appointing an arbitrator being a permanent resident in Vietnam, to be the head of the branch is also amended. Instead, when establishing its branch, the foreign Arbitration organization just provides documents proving the permanent residence in Vietnam of the head of the branch to meet the requirement;
3. Moreover, the application file for establishment representative office of a foreign Arbitration organization is reduced to comprise only (i) Letter of Proposal for establishment representative office; and (ii) the notarized copy of the foreign Arbitration organization Charter; and
4. Requirements of application file for operating registration foreign Arbitration organization have shortened from four (04) requirements under Decree 63 to two (02) requirements under Decree 124. Specifically, the application file for the branch operating registration includes (i) Application for operating registration; and (ii) the notarized copy of the license for establishment of the Branch; the case of submitting a copy, the original should be attached for comparison.