VIAC collaborated with the Mekong Delta entrepreneurs training center to implement the training course "Contract management and effective dispute resolution in operations."

On August 10, 2024, in Can Tho City, the Vietnam International Arbitration Centre (VIAC), in collaboration with the Mekong Delta Entrepreneurs Training Center (under the Vietnam Chamber of Commerce and Industry – Mekong Delta Branch), organized the training program Contract management and effective dispute resolution in operations. The program was successfully held with the participation of Mr. Le Thanh Kinh – Director of Le Nguyen Law Firm and listed arbitrator of the Vietnam International Arbitration Center (VIAC). Over 40 participants, representing businesses from various sectors operating in the Mekong Delta region, attended the course.

Mr. Le Thanh Kinh – Director of Le Nguyen Law Firm and Arbitrator at the Vietnam International Arbitration Center (VIAC)

During the training course, Mr. Le Thanh Kinh – Director of Le Nguyen Law Firm and Arbitrator at the Vietnam International Arbitration Center (VIAC) discussed several key issues surrounding three main topics, including:

1. Legal regulations on business cooperation contracts and the challenges in practical application
2. Considerations during the process of drafting, negotiating, and executing contracts
3. Strategies for controlling the implementation of business cooperation contracts

Mr. Kinh explained that, for a long time, investment law and the Vietnamese Civil Code have regulated clauses for signing business cooperation contracts. However, these laws generally provide only principles, establishing a legal framework for businesses to engage in cooperation during investment activities. These related regulations are not very detailed, leaving room for negotiation between parties, which requires flexibility and careful consideration when drafting contracts.

Mr. Kinh emphasized that controlling the business cooperation process is crucial. All parties must clearly understand what the partner is doing, and how it is being implemented, even in cases of subcontracting. He suggested that parties should particularly focus on setting up a joint account where all incoming and outgoing expenses are controlled. This is because disputes may arise from profit-sharing issues or disagreements during the contract execution. To minimize risks, the parties should establish a joint coordination committee, with members from each party, and implement clear operational regulations to ensure close monitoring of the cooperation process.

Mr. Kinh also recommended that parties should consider dispute resolution methods that prioritize confidentiality to maintain the partnership for future collaborations, such as arbitration or mediation.