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THE NATIONAL ASSEMBLY |
SOCIALIST REPUBLIC OF VIETNAM |
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Resolution No. 113/2020/QH14 |
Hanoi, June 18, 2020 |
RESOLUTION
ON RECOGNITION AND ENFOCEMENT IN VIETNAM OF FINAL AWARDS OF THE DISPUTE SETTLEMENT BODY UNDER EU-VIETNAM INVESTMENT PROTECTION AGREEMENT
THE NATIONAL ASSEMBLY
Pursuant to the Constitution of Socialist Republic of Vietnam;
Pursuant to the Law on International Treaties No. 108/2016/QH13;
Pursuant to Resolution No. 103/2020/QH14 dated June 8, 2020 of the National Assembly on ratification of EU-Vietnam Investment Protection Agreement (EVIPA);
At the request of the President in Proposal No. 02/TTr-CTN dated April 18, 2020 on ratification of EU-Vietnam Investment Protection Agreement (EVIPA);
At the request of the Government in the Proposal No. 277/TTr-CP dated June 4, 2020 on the bill of Resolution of the National Assembly on recognition and enforcement in Vietnam of final awards of the dispute settlement body under EU-Vietnam investment protection agreement;
In consideration of the Government Report No. 207/BC-CP dated May 13, 2020, Report No. 2532/BC-UBDN14 dated May 13, 2020 of the Foreign Affairs Committee of National Assembly and comments of the National Assembly deputies;
RESOLVES THAT:
Article 1. Scope
This Resolution sets forth recognition and enforcement in Vietnam of final awards as to financial obligations issued by the dispute settlement body (hereinafter referred to as Awards) as prescribed in Section B Chapter 3 of EU-Vietnam Investment Protection Agreement (hereinafter referred to as Agreement).
Article 2. Recognition and enforcement of Awards
1. Awards issued within 5 years following the date of entry into force of this Agreement, or a longer period determined by the Committee, established under Article 4.1 of the Agreement, where Vietnam is the respondent, shall be considered as foreign arbitral awards. Competent courts of Vietnam shall apply the Civil Procedure Code concerning procedures for recognition and enforcement in Vietnam of arbitral awards in accordance with the New York Convention of 1958 on the Recognition and Enforcement of Foreign Arbitral Awards in order to consider whether or not recognize and enforce Awards where Vietnam is the respondent.
2. An Award issued after the time specified in paragraph 1 of this Article where Vietnam is a respondent shall be recognized as a legally effective judgment of the court of Vietnam. The People’s Courts of province or central-affiliated city where the property of the Award debtor is located shall issue a decision on recognition and enforcement of the Award in the territory of Vietnam upon a request of the Award creditor.
3. As of the date of entry into force of the Agreement, Awards issued where the Union or its Member State is a respondent shall be recognized as legally effective judgments of the court of Vietnam. The People’s Courts of province or central-affiliated city where the property of the Award debtor is located shall issue a decision on recognition and enforcement of the Award in the territory of Vietnam upon a request of the Award creditor.
4. Awards as provided for in this Article shall be enforced in accordance with civil judgment enforcement.
Article 3. Implementation
1. The Supreme People’s Court shall provide guidance on paragraphs 2 and 3 Article 2 of this Resolution.
2. The Ministry of Foreign Affairs shall notify the Supreme People’s Court in a timely manner of the expiry of a period in paragraph 1 Article 2 of this Resolution.
Article 4. Entry into force
This Resolution shall comes into force as of the date of entry into force of this Agreement.
This Resolution is ratified by the 14th National Assembly of Socialist Republic of Vietnam during the 9th session on June 18, 2020.
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PRESIDENT OF THE NATIONAL ASSEMBLY |
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