(PLO)- Businesses should not be too late (when they have gone to court or arbitration) to start thinking about finding a lawyer, but always have a lawyer by your side from the very beginning!
In business, disputes are inevitable. Therefore, in order to minimize disputes or when there is a dispute, to minimize risk and damage, businesses need to “befriend” with a lawyer to provide quick, timely and effective legal services.
In practice, many Vietnamese enterprises have not paid due attention to legal issues in doing business and entering into contracts. In many cases, due to lack of understanding of the law, enterprises have to bear risks and suffer heavy losses.
Many businesses are still quite vague about the time limit for complaints, the statute of limitations for initiating lawsuits, measures to ensure contract performance, sanctions for contract violations or cases where liability is exempted due to violations. contract. Therefore, they often suffer a lot when disputes arise.
Businesses in our country when signing contracts are often very subjective, always trusting their partners, thinking that it’s okay, not bad. Even when choosing a dispute resolution method and agency, they often “accommodate” the wishes of their partners. Until we met, things were not at all as we thought. After reading the contract carefully, the enterprises in our country are new to the terms of the agreement on dispute settlement: The partner has cleverly chosen the method and the settlement agency in their favor. There are businesses who complain because they have to steal the casket to Singapore to sue, but not just once…
Choosing a dispute resolution method and a jurisdiction (court or arbitration, domestic or foreign) is a very important matter, requiring enterprises to be consulted to consider the pros and cons. From there, persistently negotiate and come to an agreement that is in your best interest.
Therefore, I think that if you find yourself unable to fully understand the law, businesses should hire a lawyer to work regularly for them or at least have a lawyer to advise when drafting, negotiating and signing. contracts, especially with large value contracts. When the performance of the contract begins to show signs of violation and a dispute arises, businesses need a lawyer by their side for advice to resolve the dispute in their best interests.
Businesses should not be too late (when they have gone to court or arbitration) to start thinking about finding a lawyer, but always have a lawyer by your side from the very beginning!
NGUYEN Cong Phu, former Deputy Chief of Economic Court – Ho Chi Minh City People’s Court, currently a lawyer and an arbitrator at the Vietnam International Arbitration Center