Implementation process
Mediation before filing a lawsuit at arbitration:
- The parties initiate the mediation process and pay the mediation fee in accordance with the VTIAC Mediation Rules and Fees Schedule.
- In case the parties are unsuccessful in conciliation, one party shall file an Arbitration Claim Form and pay the arbitration fee at VTIAC in accordance with the Arbitration Rules and the Arbitration Fee Schedule of VTIAC.
- VTIAC refunds 20% of the conciliation fee, the refund of arbitration fee (if any) is done in accordance with the provisions of the Arbitration Fee Schedule of VTIAC.
Mediation after initiating a lawsuit at arbitration:
- The parties have initiated arbitration at VTIAC, the Arbitral Tribunal has established, and want to suspend the proceedings to conduct conciliation at VTIAC.
- The parties initiate the mediation process and pay the mediation fee in accordance with the VTIAC Mediation Rules and Fee Schedule.
- In case the parties fail to conciliate and continue with the arbitration proceedings, VTIAC will refund 20% of the mediation fee. In case the parties conciliate and terminate the arbitration proceedings, VTIAC will refund the fee according to the VTIAC Arbitration Fee Schedule.
Benefits of using a combination of commercial mediation and commercial arbitration
- Ensure the thorough settlement of disputes through arbitration mechanism combined with the autonomy and voluntary right through mediation of the involved parties.
- Reduced costs compared to using two separate dispute resolution methods.