Statistically, dispute resolution by arbitration or court usually takes several months to several years, depending on the complexity of the case [1]. Because the time to resolve this dispute depends mainly on the decisions of the arbitral tribunal or trial panel. Meanwhile, the time for settling disputes by mediation will be faster because it depends mainly on the agreement between the parties and the facilitation and support from the mediator. Usually, in order for a mediation to be successful, mediators often set a schedule for the mediation within a short period of time with the goal of completing the dispute resolution within that period (usually one day). If the mediation time is much longer, the probability of successful mediation is not high. In order for a mediation to succeed, the mediator may recommend that the parties make preparations.

[1] Nguyen Hung Quang (Apr. 2017), “Contract performance guarantee”, Vietnam Economic Growth Diagnostic Report, Central Economic Committee, Information and Communication Publishing House; page 220.

(c) VICMC 2019