With the astoundingly rapid development of the market economy in Vietnam, disputes in commercial transactions are inevitable. Assuming your side has a strong case, you can often expect a favorable judgment after the court or arbitrator decides the case. Nevertheless, it is well-known that the resolution of commercial disputes often entails a significant investment in time and money for any business. In addition, contrary to common thinking, obtaining a favorable verdict or award in a lawsuit is only one step in the recovery process. It does not automatically result in the Civil Judgment Enforcement Authority enforcing a legally effective judgment or arbitral award (except in cases where the Civil Judgment Enforcement Authority decides to enforce judgments on its own initiative). Should a favorable judgment or arbitral award be obtained, enterprises are still required to submit a written request for civil judgment enforcement due to the fact that the trial stage and the judgment enforcement stage are two separate and independent phases of litigation. Each stage has its own functions and processes.
How much time does it take for an enterprise that obtains a favorable judgement in a case to have the judgment enforced (receiving money/recovering assets)? How much does judgment enforcement cost? What are the common obstacles faced by enterprises attempting to enforce business and commercial judgments?
There are numerous enterprises that have won their lawsuits but fail to complete the enforcement process which is delayed and prolonged from year to year.
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