Model Arbitration Clause

Of the Vietnam International Arbitration Centre

At the Vietnam Chamber of Commerce and Industry

The Vietnam International Arbitration Centre at the Vietnam Chamber of Commerce and Industry (the “VIAC”) recommends that all parties wishing to make reference to VIAC arbitration in their contracts use the following model clause.

“All disputes arising out of or in relation to this contract shall be finally settled by the Vietnam International Arbitration Centre at the Vietnam Chamber of Commerce and Industry in accordance with its Rules of Arbitration”.

Additionally, the parties may add the following provisions to the arbitration clause:

(a)   The number of arbitrators shall be ......... (one or three);

(b)   The place of the arbitration shall be ......... ;

As to disputes involving a foreign element, the parties may also  make addtions:

(c)   The applicable law shall be ......... ;

(d)   The language of the arbitration shall be ......... .