1. What is an economic contract?

• Purchase and sale contracts of goods;
• Business cooperation contracts;
• Construction contracts;
• Goods processing contracts;
• Tender contracts;
• Transportation contracts;
• Service contracts;
• Technology transfer contracts;
• Agency contracts;
• Brokerage contracts;
• Lease contracts;
• And other contracts related to business purposes.

2. What is an economic contract dispute?

3. Types of economic contract disputes often occur

• Disputes over Authority to Sign;
• Disputes over Confusing Terminology;
• Disputes over Payment;
• Disputes over Quantity, Volume;
• Disputes over Quality;
• Disputes over Timeframe;
• Disputes over Risk Transfer Timing;
• Disputes over Warranty;
• Disputes over Force Majeure/Fundamental Change of Circumstances;
• Disputes over Penalty for Violation;
• Disputes over Compensation for Damages;
• Disputes over Unilateral Termination of Contract;
• Disputes over Dispute Resolution.

4. Methods of resolving economic contract disputes

• Advantages: This approach is the simplest, fastest, and most cost-effective way to resolve disputes. All disputing parties can achieve their objectives without confrontation, thereby maintaining cooperative relationships…
• Disadvantages: Negotiation results completely depend on the willingness of each disputing party without any legal mechanism to enforce the parties' agreements made  during the negotiation process.

• Requirements for resolving disputes by commercial mediation
  • According to the provisions of Article 6 of Decree 22/2017/ND-CP, disputes are resolved by commercial mediation if the parties have a mediation agreement.
  • The parties may agree to resolve disputes through conciliation before, after a dispute occurs or at any time during the dispute resolution process.
• Advantages: It is carried out quickly without restrictions,  saving time and low cost; Parties have the right to decide and choose anyone as a mediator as well as the location for mediation. Mediation is friendly in order to continue to maintain and develop business relationships for the benefit of both parties, so it generally does not harm the existing cooperative relationship between the parties.
• Disadvantages: The closed and non-public nature of the resolution process may lead to negative and illegal outcomes. Whether conciliation is conducted or not depends on the agreement of the parties, the mediator does not have the authority to impose a binding decision on the disputing parties. The mediation agreement does not have the same enforceability as an arbitration or  court judgment.

• Requirements for dispute resolution: Pursuant to Article 5 of the 2010 Commercial Arbitration Law, conditions for dispute resolution by Arbitration are specified as follows:
  • Disputes are resolved by Arbitration if the parties have an arbitration agreement. Arbitration agreements may be established before or after a dispute arises.
  • In case a party to the arbitration agreement who is an individual dies or loses legal capacity, the arbitration agreement remains valid for that person's heirs or legal representatives, unless the parties have other agreements.
  • In case a party to the arbitration agreement is an organization that terminates its activities, goes bankrupt, dissolves, merges, amalgamates, divides, separates or converts its organizational form, the arbitration agreement remains effective for the organization that receives the rights and obligations of that organization, except when the parties have agreed otherwise.
• Advantages: Arbitration procedures are convenient, fast, demonstrate the simple, flexible, and adaptable nature of litigation. Parties may proactively manage the time and location of dispute resolution, without undergoing through multiple levels of trial like in court, thus reducing time and cost for disputing entities.
• Disadvantages: It incurs high costs; due to having only one trial level, arbitrators' decisions may sometimes be inaccurate, causing damage to the traders. Arbitrators are not state authorities so during trial, in case it is necessary to apply temporary emergency measures to ensure evidence, the arbitrator cannot make a mandatory decision on that matter but must request the Court to enforce its decisions... 

• Advantages: Highly coercive power; strict procedures, sequences proceedings and ensuring the enforcement of court decisions and judgments. As the representative of national sovereignty, the Court has better conditions for conducting investigations compared to arbitrators; The Court also has the authority to enforce, summon third parties to resolve disputes...
• Disadvantages: The legal procedures of court litigation are specifically regulated by law, so they may lack flexibility in certain cases. When the court's ruling is appealed, the litigation process may be delayed and prolonged, going through multiple levels of trial and affecting the normal activities of the disputing parties...

5. Some notes to prevent economic contract disputes

6. What does Lawyer resolving economic contract disputes do?

• Lawyer resolving economic contract disputes provides legal services that include, but are not limited to, the following tasks:
• Consulting on legal regulations and providing legal basis to protect the legitimate rights and interests of clients;
• Consulting on appropriate solutions, procedures, processes for resolving economic contract disputes;
• Representing and negotiating to resolve disputes;
• Collecting and consolidating records and documents for the process of resolving economic contract disputes;
• Drafting, preparing documents and carrying out lawsuit procedures at Court or Arbitration Center;
• Representing to work with the Court or Arbitration and related organizations and individuals;
• Representing participants in proceedings at Court, Commercial Arbitration or other jurisdictional agencies;
• Participating in protecting the legal rights and interests of traders at Court or Arbitration Center;
• Consulting on issues that arise during the process of resolving the case.

7. Why do you need to retain Lawyer resolving economic contract disputes?

8. What is the criteria for selecting a lawyer to resolve economic contract disputes?

• Always put "heart" first;
• Always be honest and objective;
• Always be persistent and patient;
• Always be exemplary with work;
• Always act in the legitimate interests of clients.

• Logical thinking and legal thinking skills;
• Skills to present problems in written and spoken language;
• Skills in researching and analyzing legal regulations;
• Debate and criticism skills;
• Negotiation and persuasion skills;
• Emotion control skills.

9. Where to find Lawyer resolving economic contract disputes?