In today's arbitration practice, disputes arising from complex transactions or a series of related transactions often involve multiple parties and multiple contracts. This raises the challenge of resolving disputes in a manner that is both time- and cost-efficient, while still ensuring fairness to the parties and upholding the principle of party autonomy. As a result, mechanisms for multi-party and multi-contract arbitration have become increasingly common and are provided for in most major arbitration rules.
The first topic in ADR Vietnam Chambers’ series on Multi-Party/Multi-Contract Arbitration explores disputes arising from multiple contracts, comparing the relevant provisions in the VIAC Rules—Vietnam’s leading arbitration institution—with those of other reputable international arbitration rules such as SIAC, HKIAC, and ICC. Based on this comparison, the article proposes amendments to Article 6 of the VIAC Rules, with the aim of bringing Vietnam’s arbitration procedures closer to international standards and reducing legal risks in the recognition and enforcement of arbitral awards both in Vietnam and abroad.
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