Legal Proceedings at the Specialized Court of the Vietnam International Financial Center

I. Jurisdiction of the Specialized Court

1. The Specialized Court has the jurisdiction to resolve the following cases, except for those involving public interests or the interests of the State:

a) Investment and business cases between members of the International Financial Center or between a member of the International Financial Center and other organizations or individuals who are not members of the International Financial Center;

b) Requests for recognition and enforcement in Vietnam of judgments and decisions of foreign courts, or awards of foreign arbitrations resolving disputes between members of the International Financial Center or between a member of the International Financial Center and other organizations or individuals who are not members of the International Financial Center;

c) Requests related to the resolution of disputes by Arbitration between members of the International Financial Center or between a member of the International Financial Center and other organizations or individuals who are not members of the International Financial Center in accordance with the law on commercial arbitration;

d) Other cases related to investment and business activities at the International Financial Center in which at least one party is a member of the International Financial Center as prescribed by the Supreme People's Court.

2. The First-instance Court of the Specialized Court has the jurisdiction to adjudicate and resolve cases prescribed in Clause 1 of this Article according to first-instance procedures.

3. The Appellate Court of the Specialized Court has the jurisdiction to adjudicate and resolve cases in which the judgments or decisions of the First-instance Court of the Specialized Court are appealed in accordance with this Law.

4. The Chief Justice of the Specialized Court shall decide on cases within the jurisdiction of the Specialized Court in the event of a jurisdictional dispute between the Specialized Court and the People's Court. The Supreme People's Court shall resolve complaints against the decision of the Chief Justice of the Specialized Court. The decision of the Supreme People's Court shall be final.

II. Spoken and Written Language used before the Specialized Court

The spoken and written language used before the Specialized Court shall be English or English accompanied by a Vietnamese translation. Court judgments and decisions shall be issued in English or English accompanied by a Vietnamese translation.

III. Composition of First-instance and Appellate Trial Panels

1. First-instance trials shall be conducted by 01 Judge. In complex cases, at the request of the parties, the Chief Justice of the Specialized Court shall decide to conduct the first-instance trial with a Panel consisting of 03 Judges. Appellate trials shall be conducted by a Panel consisting of 03 Judges.

2. A Judge who has adjudicated or resolved a case according to first-instance procedures shall not be assigned to adjudicate or resolve that case according to appellate procedures.

3. The refusal or replacement of Judges or Court Clerks shall be carried out in accordance with the Procedural Rules.

IV. Adjudication and Resolution of Cases in an Electronic Environment

1. The filing of lawsuits, processing of lawsuit petitions, service and notification of procedural documents; payment of fees, court fees, and other procedural costs; submission of documents and evidence; sessions, trials, and other procedural steps may be conducted in an electronic environment during the process of adjudication and resolution of cases at the Specialized Court.

2. The adjudication and resolution of cases in an electronic environment shall be carried out in accordance with the Procedural Rules.

3. The Supreme People's Court shall establish an Electronic Specialized Court to adjudicate and resolve cases.

V. Issuance, Service, and Notification of Procedural Documents

The issuance, service, and notification of lawsuit petitions, documents, and other procedural papers shall be carried out in accordance with the Procedural Rules.

VI. Statute of Limitations for Lawsuits and Requests for Resolution at the Specialized Court

Unless the law on investment and business activities at the International Financial Center provides otherwise or the parties have another agreement, the statute of limitations for filing a lawsuit or requesting the resolution of a case is determined as follows:

1. For cases prescribed in Points a and b, Clause 1, Article 13 of this Law, the statute of limitations for a lawsuit or request is 06 years from the date of the event leading to the legal proceedings;

2. The statute of limitations for requests prescribed in Point c, Clause 1, Article 13 of this Law shall be implemented in accordance with the law on commercial arbitration.

VII. Representatives

1. Representatives of the parties participating in proceedings at the Specialized Court include:

a) Vietnamese lawyers in accordance with the law on lawyers;

b) Foreign lawyers holding valid practicing certificates issued by competent foreign agencies or organizations;

c) Legal representatives;

d) Authorized representatives.

2. The representatives prescribed in Clause 1 of this Article are the legal representatives of the parties participating in proceedings at the Specialized Court.

3. A legal entity suing or being sued under the provisions of this Law must be represented by a lawyer, unless the Procedural Rules provide otherwise.

4. The participation in proceedings by representatives, as well as their rights and obligations, shall be carried out in accordance with this Law and the Procedural Rules.

VIII. Procedural Costs at the Specialized Court

1. Procedural costs include court fees, charges, reasonable attorney fees, and other costs for resolving the case as decided by the Court.

2. The requesting party must pay an advance for procedural costs and an amount to guarantee the costs for resolving the case according to the Court's decision.

3. The parties must bear the procedural costs if their requests are not accepted by the Court, unless the parties have another agreement. The Court shall decide on the obligation of the parties to bear procedural costs. Procedural costs decided by the Court must be reasonable, necessary, and proportionate to the nature of the case.

4. The order, procedures, advance payment, and obligation to bear procedural costs shall be carried out in accordance with the Procedural Rules.

5. The level of procedural costs; the collection, payment, management, and use of procedural costs shall be implemented according to the regulations of the Supreme People's Court after reaching an agreement with the Ministry of Finance.

IX. Conclusion

Legal proceedings at the Specialized Court of the Vietnam International Financial Center are not merely legal processes, but also represent Vietnam's commitment to protecting investors' interests according to global standards. Mastering the regulations on jurisdiction and the electronic procedural environment will help businesses be more proactive in managing legal risks.

 

The information contained in this article is general and intended only to provide information on legal regulations. DB Legal will not be responsible for any use or application of this information for any business purpose. For in-depth advice on specific cases, please contact us.

For more information: 

📞: +84 357 466 579

📧: contact@dblegal.vn

🌐Facebook:  DB Legal Vietnamese Fanpage or DB Legal English Fanpage 

🐦X(Twitter)

💼Linkedin

🎬Youtube