Arbitration

Which type of arbitration allows parties to set their own procedures?

• Institutional arbitration

• Ad hoc arbitration

• Government arbitration

• Court-mandated arbitration

Arbitration involves a neutral third party who makes a __________ decision.

What must arbitrators respect according to the first principle of arbitration?

• Parties' agreements unless they breach laws or ethics

• Public opinion

• Court judgments

• Government policies

What is the finality of arbitral awards?

• They can be appealed

• They are final and cannot be appealed

• They are subject to government review

• They are suggestions only

When is an arbitration agreement required for dispute settlement?

• Only after a dispute arises

• At any time, before or after a dispute

• Only before a contract is signed

• Never required

What condition must an arbitration agreement meet?

• It's must be in writing

• It can be oral

• It should be verbal

• It must be notarized

What does Article 19 state about arbitration agreements?

• They depend on the contract

• They are independent of the contract

• They can be modified with the contract

• They are void if the contract is void

What is the statute of limitations for initiating a lawsuit according to arbitration procedures in Vietnam?

• 1 year

• 2 years

• 3 years

• 5 years

What is one advantage of arbitration mentioned in the document?

• Low cost

• High fees

• Public hearings

• Confidentiality

What is one disadvantage of arbitration?

• It is always legally binding

• It has multiple levels of appeal

• High fees

• Guaranteed court review