Commercial activities are increasingly developing, besides the advantages there are also many potential risks, leading to disputes between participating parties.
This article was consulted by Lawyer Nguyen Quang Trung
TLT LEGAL LLC – VIETNAM BAR FEDERATION
Understanding common types of disputes and methods to limit them will help businesses and individuals be proactive in preventing and resolving disputes effectively.
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Common types of disputes in commerce
Below are some common types of disputes in commerce:
Disputes over commercial contracts:
- Violation of payment obligations;
- Violation of obligations to deliver/receive goods or perform services;
- Disputes over quality of goods and services;
- Disputes over intellectual property rights.
Disputes over transport of goods:
- Loss or damage to goods during transportation;
- Delivery delay;
- Dispute over liability for compensation for goods damage.
Insurance disputes:
- Refusal to compensate;
- Compensation not according to commitment.
Disputes about international payments:
- Violation of payment obligations;
- Disputes over exchange rates.
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Measures to limit disputes in commercial relations
Stage before signing the contract:
- Choose a reputable partner;
- Carefully verify the partner’s capacity and financial situation;
- Negotiate and sign a clear contract, with full terms, ensuring its legality and suitability to the needs of the parties.
Contract implementation stage:
- Strictly comply with contract terms;
- Exchange information and update contract implementation progress regularly;
- Coordinate to resolve arising issues quickly and effectively.
Stage after contract implementation:
- Complete acceptance and payment procedures;
- Maintain complete contract records.
Other measures:
- Participate in training courses on preventing and resolving commercial disputes;
- Use legal consulting services when necessary;
- Buy insurance for risks in commercial activities.
Limiting disputes in trade relations is necessary to protect the interests of participating parties, contributing to promoting healthy and effective development of trade activities. Applying the above methods will help businesses and individuals reduce risks, save costs and time in resolving disputes.
In addition to the above methods, building a reputable business culture and promoting business ethics also plays an important role in limiting disputes in commercial relations.
