{"id":8985,"date":"2026-03-05T08:31:35","date_gmt":"2026-03-05T01:31:35","guid":{"rendered":"https:\/\/bbiac.com\/commercial-arbitration-and-issues-relating-to-property-insurance\/"},"modified":"2026-03-05T08:59:55","modified_gmt":"2026-03-05T01:59:55","slug":"commercial-arbitration-and-issues-relating-to-property-insurance","status":"publish","type":"post","link":"https:\/\/bbiac.com\/en\/commercial-arbitration-and-issues-relating-to-property-insurance\/","title":{"rendered":"Commercial Arbitration and Issues Relating to Property Insurance"},"content":{"rendered":"<h2 style=\"text-align: justify;\" data-start=\"1872\" data-end=\"1925\">I. Legal Framework on Property Insurance in Vietnam<\/h2>\n<p style=\"text-align: justify;\" data-start=\"1927\" data-end=\"2024\">The legal system regulating property insurance in Vietnam is relatively comprehensive, including:<\/p>\n<ul style=\"text-align: justify;\" data-start=\"2026\" data-end=\"2261\">\n<li data-start=\"2026\" data-end=\"2067\">\n<p data-start=\"2028\" data-end=\"2067\"><span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">Law on Insurance Business 2022<\/span><\/span><\/p>\n<\/li>\n<li data-start=\"2068\" data-end=\"2109\">\n<p data-start=\"2070\" data-end=\"2109\"><span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">Civil Code 2015<\/span><\/span><\/p>\n<\/li>\n<li data-start=\"2110\" data-end=\"2151\">\n<p data-start=\"2112\" data-end=\"2151\"><span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">Commercial Law 2005<\/span><\/span><\/p>\n<\/li>\n<li data-start=\"2152\" data-end=\"2261\">\n<p data-start=\"2154\" data-end=\"2261\">Implementing decrees, circulars, and insurance policy terms and conditions issued by insurance enterprises.<\/p>\n<\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\" data-start=\"2263\" data-end=\"2299\">1. Concept of Property Insurance<\/h3>\n<p style=\"text-align: justify;\" data-start=\"2301\" data-end=\"2459\">Property insurance is a type of non-life insurance under which the insurer undertakes to indemnify the insured for property damage caused by an insured event.<\/p>\n<p style=\"text-align: justify;\" data-start=\"2461\" data-end=\"2492\">Insurable property may include:<\/p>\n<ul style=\"text-align: justify;\" data-start=\"2494\" data-end=\"2638\">\n<li data-start=\"2494\" data-end=\"2535\">\n<p data-start=\"2496\" data-end=\"2535\">Residential houses and constructions;<\/p>\n<\/li>\n<li data-start=\"2536\" data-end=\"2564\">\n<p data-start=\"2538\" data-end=\"2564\">Machinery and equipment;<\/p>\n<\/li>\n<li data-start=\"2565\" data-end=\"2591\">\n<p data-start=\"2567\" data-end=\"2591\">Goods and merchandise;<\/p>\n<\/li>\n<li data-start=\"2592\" data-end=\"2615\">\n<p data-start=\"2594\" data-end=\"2615\">Means of transport;<\/p>\n<\/li>\n<li data-start=\"2616\" data-end=\"2638\">\n<p data-start=\"2618\" data-end=\"2638\">Property in transit.<\/p>\n<\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\" data-start=\"2640\" data-end=\"2669\">2. Fundamental Principles<\/h3>\n<ul style=\"text-align: justify;\" data-start=\"2671\" data-end=\"3030\">\n<li data-start=\"2671\" data-end=\"2755\">\n<p data-start=\"2673\" data-end=\"2755\"><strong data-start=\"2673\" data-end=\"2699\">Principle of indemnity<\/strong>: Compensation is limited to the actual loss suffered.<\/p>\n<\/li>\n<li data-start=\"2756\" data-end=\"2892\">\n<p data-start=\"2758\" data-end=\"2892\"><strong data-start=\"2758\" data-end=\"2792\">Principle of utmost good faith<\/strong>: The policyholder must provide complete and accurate information related to the insured property.<\/p>\n<\/li>\n<li data-start=\"2893\" data-end=\"3030\">\n<p data-start=\"2895\" data-end=\"3030\"><strong data-start=\"2895\" data-end=\"2923\">Principle of subrogation<\/strong>: After indemnification, the insurer has the right to claim against a third party responsible for the loss.<\/p>\n<\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\" data-start=\"3032\" data-end=\"3066\">3. Property Insurance Contract<\/h3>\n<p style=\"text-align: justify;\" data-start=\"3068\" data-end=\"3119\">A property insurance contract must clearly specify:<\/p>\n<ul style=\"text-align: justify;\" data-start=\"3121\" data-end=\"3274\">\n<li data-start=\"3121\" data-end=\"3148\">\n<p data-start=\"3123\" data-end=\"3148\">Insured subject matter;<\/p>\n<\/li>\n<li data-start=\"3149\" data-end=\"3165\">\n<p data-start=\"3151\" data-end=\"3165\">Sum insured;<\/p>\n<\/li>\n<li data-start=\"3166\" data-end=\"3207\">\n<p data-start=\"3168\" data-end=\"3207\">Coverage scope and exclusion clauses;<\/p>\n<\/li>\n<li data-start=\"3208\" data-end=\"3229\">\n<p data-start=\"3210\" data-end=\"3229\">Insurance period;<\/p>\n<\/li>\n<li data-start=\"3230\" data-end=\"3274\">\n<p data-start=\"3232\" data-end=\"3274\">Method and time limit for indemnification.<\/p>\n<\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\" data-start=\"3281\" data-end=\"3324\">II. Common Disputes in Property Insurance<\/h2>\n<p style=\"text-align: justify;\" data-start=\"3326\" data-end=\"3436\">Property insurance disputes often arise from inconsistent interpretation and application of contractual terms.<\/p>\n<h3 style=\"text-align: justify;\" data-start=\"3438\" data-end=\"3473\">1. Disputes over Coverage Scope<\/h3>\n<p style=\"text-align: justify;\" data-start=\"3475\" data-end=\"3602\">The policyholder may argue that the event falls within coverage, while the insurer invokes exclusion clauses to deny liability.<\/p>\n<h3 style=\"text-align: justify;\" data-start=\"3604\" data-end=\"3641\">2. Disputes over Indemnity Amount<\/h3>\n<ul style=\"text-align: justify;\" data-start=\"3643\" data-end=\"3770\">\n<li data-start=\"3643\" data-end=\"3677\">\n<p data-start=\"3645\" data-end=\"3677\">Inaccurate property valuation;<\/p>\n<\/li>\n<li data-start=\"3678\" data-end=\"3710\">\n<p data-start=\"3680\" data-end=\"3710\">Application of depreciation;<\/p>\n<\/li>\n<li data-start=\"3711\" data-end=\"3770\">\n<p data-start=\"3713\" data-end=\"3770\">Disagreements regarding consequential or indirect losses.<\/p>\n<\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\" data-start=\"3772\" data-end=\"3815\">3. Disputes over Disclosure Obligations<\/h3>\n<p style=\"text-align: justify;\" data-start=\"3817\" data-end=\"3973\">The insurer may refuse indemnification on the grounds that the policyholder failed to fully disclose the condition of the property or relevant risk factors.<\/p>\n<h3 style=\"text-align: justify;\" data-start=\"3975\" data-end=\"4007\">4. Delays in Indemnification<\/h3>\n<p style=\"text-align: justify;\" data-start=\"4009\" data-end=\"4122\">Prolonged loss assessment and payment procedures may cause additional financial damage to the insured enterprise.<\/p>\n<h2 style=\"text-align: justify;\" data-start=\"4129\" data-end=\"4193\">III. Arbitration and Resolution of Property Insurance Disputes<\/h2>\n<p style=\"text-align: justify;\" data-start=\"4195\" data-end=\"4361\">Pursuant to the <span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">Law on Commercial Arbitration 2010<\/span><\/span>, parties may agree to resolve disputes through arbitration if an arbitration clause is included in the contract.<\/p>\n<h3 style=\"text-align: justify;\" data-start=\"4363\" data-end=\"4391\">Advantages of Arbitration<\/h3>\n<h3 style=\"text-align: justify;\">1. Procedural Flexibility<\/h3>\n<p style=\"text-align: justify;\" data-start=\"4424\" data-end=\"4531\">Unlike court litigation, which is bound by strict procedural rules, arbitration allows parties to agree on:<\/p>\n<ul style=\"text-align: justify;\" data-start=\"4533\" data-end=\"4636\">\n<li data-start=\"4533\" data-end=\"4558\">\n<p data-start=\"4535\" data-end=\"4558\">Place of arbitration;<\/p>\n<\/li>\n<li data-start=\"4559\" data-end=\"4572\">\n<p data-start=\"4561\" data-end=\"4572\">Language;<\/p>\n<\/li>\n<li data-start=\"4573\" data-end=\"4605\">\n<p data-start=\"4575\" data-end=\"4605\">Time and format of hearings;<\/p>\n<\/li>\n<li data-start=\"4606\" data-end=\"4636\">\n<p data-start=\"4608\" data-end=\"4636\">Applicable procedural rules.<\/p>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\" data-start=\"4638\" data-end=\"4751\">This flexibility is particularly suitable for technically complex insurance disputes requiring prompt resolution.<\/p>\n<h3 style=\"text-align: justify;\" data-start=\"4753\" data-end=\"4775\">2. Confidentiality<\/h3>\n<p style=\"text-align: justify;\" data-start=\"4777\" data-end=\"4819\">Property insurance disputes often involve:<\/p>\n<ul style=\"text-align: justify;\" data-start=\"4821\" data-end=\"4958\">\n<li data-start=\"4821\" data-end=\"4844\">\n<p data-start=\"4823\" data-end=\"4844\">Large asset values;<\/p>\n<\/li>\n<li data-start=\"4845\" data-end=\"4876\">\n<p data-start=\"4847\" data-end=\"4876\">Financial and revenue data;<\/p>\n<\/li>\n<li data-start=\"4877\" data-end=\"4929\">\n<p data-start=\"4879\" data-end=\"4929\">Production processes and proprietary technology;<\/p>\n<\/li>\n<li data-start=\"4930\" data-end=\"4958\">\n<p data-start=\"4932\" data-end=\"4958\">Corporate risk conditions.<\/p>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\" data-start=\"4960\" data-end=\"4996\">Arbitration ensures confidentiality:<\/p>\n<ul style=\"text-align: justify;\" data-start=\"4998\" data-end=\"5140\">\n<li data-start=\"4998\" data-end=\"5026\">\n<p data-start=\"5000\" data-end=\"5026\">Hearings are not public;<\/p>\n<\/li>\n<li data-start=\"5027\" data-end=\"5068\">\n<p data-start=\"5029\" data-end=\"5068\">Documents are not publicly disclosed;<\/p>\n<\/li>\n<li data-start=\"5069\" data-end=\"5140\">\n<p data-start=\"5071\" data-end=\"5140\">Arbitral awards are not automatically published like court judgments.<\/p>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\" data-start=\"5142\" data-end=\"5218\">This is especially important in high-value or reputation-sensitive disputes.<\/p>\n<h3 style=\"text-align: justify;\" data-start=\"5220\" data-end=\"5276\">3. Selection of Arbitrators with Insurance Expertise<\/h3>\n<p style=\"text-align: justify;\" data-start=\"5278\" data-end=\"5336\">Insurance disputes often require specialized knowledge in:<\/p>\n<ul style=\"text-align: justify;\" data-start=\"5338\" data-end=\"5455\">\n<li data-start=\"5338\" data-end=\"5369\">\n<p data-start=\"5340\" data-end=\"5369\">Loss assessment techniques;<\/p>\n<\/li>\n<li data-start=\"5370\" data-end=\"5390\">\n<p data-start=\"5372\" data-end=\"5390\">Asset valuation;<\/p>\n<\/li>\n<li data-start=\"5391\" data-end=\"5425\">\n<p data-start=\"5393\" data-end=\"5425\">Specialized insurance clauses;<\/p>\n<\/li>\n<li data-start=\"5426\" data-end=\"5455\">\n<p data-start=\"5428\" data-end=\"5455\">Insurance market practices.<\/p>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\" data-start=\"5457\" data-end=\"5586\">Parties may appoint arbitrators with relevant professional expertise, improving the quality and efficiency of dispute resolution.<\/p>\n<h3 style=\"text-align: justify;\" data-start=\"5588\" data-end=\"5638\">4. Final and Binding Nature of Arbitral Awards<\/h3>\n<p style=\"text-align: justify;\" data-start=\"5640\" data-end=\"5685\">Under the Law on Commercial Arbitration 2010:<\/p>\n<ul style=\"text-align: justify;\" data-start=\"5687\" data-end=\"5813\">\n<li data-start=\"5687\" data-end=\"5745\">\n<p data-start=\"5689\" data-end=\"5745\">Arbitral awards take effect immediately upon issuance;<\/p>\n<\/li>\n<li data-start=\"5746\" data-end=\"5813\">\n<p data-start=\"5748\" data-end=\"5813\">They are not subject to appeal or protest as court judgments are.<\/p>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\" data-start=\"5815\" data-end=\"5942\">Courts may only set aside awards in limited circumstances (e.g., invalid arbitration agreement, serious procedural violations).<\/p>\n<p style=\"text-align: justify;\" data-start=\"5944\" data-end=\"6081\">For property insurance disputes\u2014where time directly impacts business recovery the finality of arbitral awards is a significant advantage.<\/p>\n<h3 style=\"text-align: justify;\" data-start=\"6088\" data-end=\"6118\">Basic Arbitration Procedure<\/h3>\n<ol style=\"text-align: justify;\" data-start=\"6120\" data-end=\"6317\">\n<li data-start=\"6120\" data-end=\"6158\">\n<p data-start=\"6123\" data-end=\"6158\">Filing a request for arbitration;<\/p>\n<\/li>\n<li data-start=\"6159\" data-end=\"6203\">\n<p data-start=\"6162\" data-end=\"6203\">Establishment of the arbitral tribunal;<\/p>\n<\/li>\n<li data-start=\"6204\" data-end=\"6256\">\n<p data-start=\"6207\" data-end=\"6256\">Exchange of statements of defense and evidence;<\/p>\n<\/li>\n<li data-start=\"6257\" data-end=\"6282\">\n<p data-start=\"6260\" data-end=\"6282\">Arbitration hearing;<\/p>\n<\/li>\n<li data-start=\"6283\" data-end=\"6317\">\n<p data-start=\"6286\" data-end=\"6317\">Issuance of the arbitral award.<\/p>\n<\/li>\n<\/ol>\n<h3 style=\"text-align: justify;\" data-start=\"6319\" data-end=\"6334\">Enforcement<\/h3>\n<p style=\"text-align: justify;\" data-start=\"6336\" data-end=\"6544\">Arbitral awards are binding and enforceable under Vietnamese law. In disputes involving foreign elements, recognition and enforcement may rely on applicable international treaties to which Vietnam is a party.<\/p>\n<h2 style=\"text-align: justify;\" data-start=\"6551\" data-end=\"6592\">IV. Notable Property Insurance Disputes<\/h2>\n<p style=\"text-align: justify;\" data-start=\"6594\" data-end=\"6727\">In practice, many high-value property insurance disputes have been resolved by arbitration or courts, particularly those relating to:<\/p>\n<ul style=\"text-align: justify;\" data-start=\"6729\" data-end=\"6826\">\n<li data-start=\"6729\" data-end=\"6767\">\n<p data-start=\"6731\" data-end=\"6767\">Factory and industrial park fires;<\/p>\n<\/li>\n<li data-start=\"6768\" data-end=\"6799\">\n<p data-start=\"6770\" data-end=\"6799\">Import-export goods damage;<\/p>\n<\/li>\n<li data-start=\"6800\" data-end=\"6826\">\n<p data-start=\"6802\" data-end=\"6826\">Natural disaster losses.<\/p>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\" data-start=\"6828\" data-end=\"6993\">Large-scale industrial fire cases frequently give rise to disputes concerning exclusion clauses and indemnity valuation, significantly affecting business operations.<\/p>\n<p style=\"text-align: justify;\" data-start=\"6995\" data-end=\"7140\">These cases highlight the importance of clear insurance contract drafting and the prior selection of an appropriate dispute resolution mechanism.<\/p>\n<h2 style=\"text-align: justify;\" data-start=\"7147\" data-end=\"7186\">V. Protection of the Insured\u2019s Rights<\/h2>\n<p style=\"text-align: justify;\" data-start=\"7188\" data-end=\"7262\">To mitigate legal risks and protect their interests, policyholders should:<\/p>\n<ul style=\"text-align: justify;\" data-start=\"7264\" data-end=\"7611\">\n<li data-start=\"7264\" data-end=\"7367\">\n<p data-start=\"7266\" data-end=\"7367\">Carefully review contractual terms, especially exclusion clauses and indemnity calculation methods;<\/p>\n<\/li>\n<li data-start=\"7368\" data-end=\"7453\">\n<p data-start=\"7370\" data-end=\"7453\">Provide honest and complete disclosure during contract formation and performance;<\/p>\n<\/li>\n<li data-start=\"7454\" data-end=\"7526\">\n<p data-start=\"7456\" data-end=\"7526\">Retain invoices, transaction documents, and loss assessment reports;<\/p>\n<\/li>\n<li data-start=\"7527\" data-end=\"7611\">\n<p data-start=\"7529\" data-end=\"7611\">Clearly stipulate an arbitration clause and select a reputable arbitration center.<\/p>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\" data-start=\"7613\" data-end=\"7711\">Proactive legal preparation helps ensure faster, fairer, and more professional dispute resolution.<\/p>\n<h2 style=\"text-align: justify;\" data-start=\"7718\" data-end=\"7734\">VI. Conclusion<\/h2>\n<p style=\"text-align: justify;\" data-start=\"7736\" data-end=\"8060\">Property insurance is a crucial instrument for individuals and enterprises to mitigate financial risks arising from unexpected losses. Nevertheless, disputes regarding coverage scope and indemnity amounts are difficult to avoid when contracts are unclear or parties lack a full understanding of their rights and obligations.<\/p>\n<p style=\"text-align: justify;\" data-start=\"8062\" data-end=\"8435\" data-is-last-node=\"\" data-is-only-node=\"\">In this context, commercial arbitration serves as an effective dispute resolution mechanism due to its flexibility, confidentiality, and the final and binding nature of arbitral awards. Proactively incorporating arbitration clauses and maintaining well-prepared documentation from the outset will significantly enhance the protection of policyholders\u2019 legitimate interests<\/p>\n<div class=\"flex flex-col text-sm pb-25\" style=\"text-align: justify;\">\n<article class=\"text-token-text-primary w-full focus:outline-none [--shadow-height:45px] has-data-writing-block:pointer-events-none has-data-writing-block:-mt-(--shadow-height) has-data-writing-block:pt-(--shadow-height) [&amp;:has([data-writing-block])&gt;*]:pointer-events-auto scroll-mt-[calc(var(--header-height)+min(200px,max(70px,20svh)))]\" dir=\"auto\" tabindex=\"-1\" data-turn-id=\"request-WEB:cc656299-3353-4c51-873a-7b1f475f53be-2\" data-testid=\"conversation-turn-4\" data-scroll-anchor=\"true\" data-turn=\"assistant\">\n<div class=\"text-base my-auto mx-auto pb-10 [--thread-content-margin:--spacing(4)] @w-sm\/main:[--thread-content-margin:--spacing(6)] @w-lg\/main:[--thread-content-margin:--spacing(16)] px-(--thread-content-margin)\">\n<div class=\"[--thread-content-max-width:40rem] @w-lg\/main:[--thread-content-max-width:48rem] mx-auto max-w-(--thread-content-max-width) flex-1 group\/turn-messages focus-visible:outline-hidden relative flex w-full min-w-0 flex-col agent-turn\" tabindex=\"-1\">\n<div class=\"flex max-w-full flex-col grow\">\n<div class=\"min-h-8 text-message relative flex w-full flex-col items-end gap-2 text-start break-words whitespace-normal [.text-message+&amp;]:mt-1\" dir=\"auto\" data-message-author-role=\"assistant\" data-message-id=\"586a0a0b-9e8d-4865-b820-4026cfc42e80\" data-message-model-slug=\"gpt-5-2\">\n<h3 class=\"flex w-full flex-col gap-1 empty:hidden first:pt-[1px]\"><\/h3>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n<h2 style=\"text-align: justify;\" data-start=\"0\" data-end=\"99\">VII. How to Resolve Disputes through Bigboss International Commercial Arbitration Center (BBIAC)<\/h2>\n<p style=\"text-align: justify;\" data-start=\"101\" data-end=\"269\">To resolve disputes by commercial arbitration at the <span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">Bigboss International Commercial Arbitration Center<\/span><\/span> (BBIAC), clients may include one of the following clauses in their contracts:<\/p>\n<h3 style=\"text-align: justify;\" data-start=\"276\" data-end=\"309\">7.1. Model Arbitration Clause<\/h3>\n<blockquote data-start=\"311\" data-end=\"522\">\n<p data-start=\"313\" data-end=\"522\">\u201cAny dispute arising out of or in connection with this contract shall be resolved by arbitration at the Bigboss International Commercial Arbitration Center (BBIAC) in accordance with its Rules of Arbitration.\u201d<\/p>\n<\/blockquote>\n<p style=\"text-align: justify;\" data-start=\"524\" data-end=\"562\">In addition, the parties may agree on:<\/p>\n<p style=\"text-align: justify;\" data-start=\"564\" data-end=\"780\">(a) The number of arbitrators shall be [one or three].<br data-start=\"618\" data-end=\"621\" \/>(b) The place of arbitration shall be [city and\/or country].<br data-start=\"681\" data-end=\"684\" \/>(c) The law governing the contract shall be [ ].<br data-start=\"732\" data-end=\"735\" \/>(d) The language of arbitration shall be [ ].<\/p>\n<p style=\"text-align: justify;\" data-start=\"782\" data-end=\"793\"><strong data-start=\"782\" data-end=\"791\">Note:<\/strong><\/p>\n<ul style=\"text-align: justify;\" data-start=\"794\" data-end=\"969\">\n<li data-start=\"794\" data-end=\"851\">\n<p data-start=\"796\" data-end=\"851\">Applicable only to disputes with foreign elements; or<\/p>\n<\/li>\n<li data-start=\"852\" data-end=\"969\">\n<p data-start=\"854\" data-end=\"969\">Applicable to disputes with foreign elements or disputes where at least one party is a foreign-invested enterprise.<\/p>\n<h3 data-start=\"976\" data-end=\"1039\">7.2. Model Arbitration Clause under the Expedited Procedure<\/h3>\n<blockquote data-start=\"1041\" data-end=\"1415\">\n<p data-start=\"1043\" data-end=\"1415\">\u201cAny dispute arising out of or in connection with this contract shall be resolved by arbitration at the Bigboss International Commercial Arbitration Center (BBIAC) in accordance with its Rules of Arbitration. The parties agree that the arbitration proceedings shall be conducted under the Expedited Procedure as stipulated in Article 37 of the BBIAC Rules of Arbitration.\u201d<\/p>\n<\/blockquote>\n<p data-start=\"1417\" data-end=\"1455\">In addition, the parties may agree on:<\/p>\n<p data-start=\"1457\" data-end=\"1616\">(a) The place of arbitration shall be [city and\/or country].<br data-start=\"1517\" data-end=\"1520\" \/>(b) The law governing the contract shall be [ ].<br data-start=\"1568\" data-end=\"1571\" \/>(c) The language of arbitration shall be [ ].<\/p>\n<p data-start=\"1618\" data-end=\"1629\"><strong data-start=\"1618\" data-end=\"1627\">Note:<\/strong><\/p>\n<ul data-start=\"1630\" data-end=\"1805\">\n<li data-start=\"1630\" data-end=\"1687\">\n<p data-start=\"1632\" data-end=\"1687\">Applicable only to disputes with foreign elements; or<\/p>\n<\/li>\n<li data-start=\"1688\" data-end=\"1805\">\n<p data-start=\"1690\" data-end=\"1805\">Applicable to disputes with foreign elements or disputes where at least one party is a foreign-invested enterprise.<\/p>\n<\/li>\n<\/ul>\n<p data-start=\"1812\" data-end=\"1865\" data-is-last-node=\"\" data-is-only-node=\"\">&#x1f4de; <strong data-start=\"1815\" data-end=\"1865\" data-is-last-node=\"\">For consultation, please contact: 0979 133 955<\/strong><\/p>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\" data-start=\"101\" data-end=\"269\">\n<p style=\"text-align: justify;\" data-start=\"101\" data-end=\"269\">\n<p style=\"text-align: justify;\" data-start=\"101\" data-end=\"269\">\n<p style=\"text-align: justify;\" data-start=\"101\" data-end=\"269\">\n<p style=\"text-align: justify;\" data-start=\"101\" data-end=\"269\">\n<p style=\"text-align: justify;\" data-start=\"101\" data-end=\"269\">\n<p style=\"text-align: justify;\" data-start=\"101\" data-end=\"269\">\n<p style=\"text-align: justify;\" data-start=\"101\" data-end=\"269\">\n<p style=\"text-align: justify;\" data-start=\"101\" data-end=\"269\">\n<p style=\"text-align: justify;\" data-start=\"101\" data-end=\"269\">\n<p style=\"text-align: justify;\" data-start=\"101\" data-end=\"269\">\n<p style=\"text-align: justify;\" data-start=\"101\" data-end=\"269\">\n<p style=\"text-align: justify;\" data-start=\"101\" data-end=\"269\">\n<p style=\"text-align: justify;\" data-start=\"101\" data-end=\"269\">\n<p style=\"text-align: justify;\" data-start=\"101\" data-end=\"269\">\n<p style=\"text-align: justify;\" data-start=\"101\" data-end=\"269\">\n","protected":false},"excerpt":{"rendered":"<p>I. Legal Framework on Property Insurance in Vietnam The legal system regulating property insurance in Vietnam is relatively comprehensive, including: Law on Insurance Business 2022 Civil Code 2015 Commercial Law 2005 Implementing decrees, circulars, and insurance policy terms and conditions issued by insurance enterprises. 1. Concept of Property Insurance Property insurance is a type of [&hellip;]<\/p>\n","protected":false},"author":383,"featured_media":8983,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[88,85],"tags":[],"class_list":["post-8985","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legal-knowledge","category-library"],"_links":{"self":[{"href":"https:\/\/bbiac.com\/en\/wp-json\/wp\/v2\/posts\/8985","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bbiac.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bbiac.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bbiac.com\/en\/wp-json\/wp\/v2\/users\/383"}],"replies":[{"embeddable":true,"href":"https:\/\/bbiac.com\/en\/wp-json\/wp\/v2\/comments?post=8985"}],"version-history":[{"count":1,"href":"https:\/\/bbiac.com\/en\/wp-json\/wp\/v2\/posts\/8985\/revisions"}],"predecessor-version":[{"id":8986,"href":"https:\/\/bbiac.com\/en\/wp-json\/wp\/v2\/posts\/8985\/revisions\/8986"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bbiac.com\/en\/wp-json\/wp\/v2\/media\/8983"}],"wp:attachment":[{"href":"https:\/\/bbiac.com\/en\/wp-json\/wp\/v2\/media?parent=8985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bbiac.com\/en\/wp-json\/wp\/v2\/categories?post=8985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bbiac.com\/en\/wp-json\/wp\/v2\/tags?post=8985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}