How to Determine Financial Security to Request for Arrest of Ship?

 According to Article 132 of Vietnam Law on Maritime, to request for arrest of ships, it is required to provide financial security to ensure that there is a way to hold the requester responsible in case the request is wrongful.

The person requesting arrest of ships must provide financial security in either or both of the following forms:

i) Submitting asset-backed security documents issued by banks or other credit institutions, or individuals, agencies or organizations;

ii) Depositing a sum or valuable papers according to the Court’s judgement over execution of financial security in an escrow account opened at the bank within an area where the work office of the Court accorded authority to arrest a ship is located no later than 48 hours of receipt of such judgement.

The value of a financial security shall be decided by the Court and shall be proportionate to any loss or damage incurred due to consequences arising from request for wrongful arrest of a ship.

We help clients overcome cultural barriers and achieve their strategic and financial outcomes, while ensuring the best interest rate protection, risk mitigation and regulatory compliance. ANT lawyers have law firm in Hanoi, law firm in Ho Chi Minh City and law firm in Da Nang. 

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What are Responsibility for Wrongful Request of Arrest of Ship?

 According to Article 131 of Vietnam Maritime Law, the wrongful request of arrest of ship in Vietnam shall be subject to financial obligations. In particular:

The applicant for arrest of a ship must be held legally liable for his request. If the request for arrest of a ship is wrongful, which may lead to any loss, such applicant shall be responsible for compensating for any loss or damage possibly incurred.

Any loss or damage that may be incurred from consequence of such request for wrongful arrest shall be dealt with as agreed upon between parties. Where there is any disagreement or dispute that may arise, the Court or Arbitration Tribunal shall be requested to settle this disagreement and dispute in accordance with laws.

If the Court that grants a judgement on arrest of a ship which is not based on the reasons for a request for arrest or does not serve on the ship as the right subject matter of such request, which may cause any loss or damage, it shall be liable for any compensation in accordance with laws and regulations.

We help clients overcome cultural barriers and achieve their strategic and financial outcomes, while ensuring the best interest rate protection, risk mitigation and regulatory compliance. ANT lawyers have law firm in Hanoi, law firm in Ho Chi Minh City and law firm in Da Nang. 

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What Documents and Evidence Should be Required to Arrest or Release Ship from Arrest?

 According to Article 134 of Vietnam Law on Maritime, the requester needs to provide documents and evidence attached with a written request for arrest of ships or a written request for release of ships from arrest.

Upon filing a request for arrest or release of ships, the person requesting such arrest must file a written request for arrest of ships or a written request for release of ships from arrest, enclosing documents and evidence stating that such request or release of ships is sound and legitimate.

Where documents about and evidence for a request for arrest or release of ships from arrest are all written in a foreign language, a Vietnamese translation copy must be submitted and legally authenticated in accordance with Vietnamese legislation. With respect to documents and papers created, issued and certified by a foreign competent authority in accordance with such foreign country’s laws, the consular legalization is required, except when this consular legalization process is exempted in uniformity with international agreements to which the Socialist Republic of Vietnam is a party.

We help clients overcome cultural barriers and achieve their strategic and financial outcomes, while ensuring the best interest rate protection, risk mitigation and regulatory compliance. ANT lawyers have Attorneys in Hanoi, Attorneys in Ho Chi Minh and Attorneys in Danang.

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What Admiralty and Maritime Legal Matters in Vietnam Involve?

 Admiralty and maritime lawyers in Vietnam may represent and defend the interests of commercial ship owners and charters involving the total spectrum of maritime casualties, accidents and disputes which may arise in reference to commercial ocean shipping.

Additionally admiralty and maritime lawyers in Vietnam are frequently appointed by a broad vary of domestic and international marine insurance corporations directly or through our international partner law firms in UK, US and Australia to represent and defend the interests of their insureds in reference to casualties involving each commercial and recreational vessels.

When legal proceeding arises from a maritime casualty or dispute admiralty and maritime lawyers in Vietnam commit the total range of the firm’s resources and therefore the intensive litigation expertise of our attorneys to attain the most effective potential outcome for the client. The attorneys additionally counsel ship owners, charters, marine insurers and clients on risk avoidance, regulative necessities and strategic legal solutions.

How maritime lawyers in Vietnam could help?

Maritime lawyers in Vietnam play a pivotal role in assisting clients with legal matters related to the maritime industry. Vietnam’s thriving import and export activities, extensive coastline, and bustling ports have made the maritime sector a critical component of the nation’s economy. Consequently, the need for legal expertise in this field has never been greater.

First and foremost, maritime lawyers are instrumental in ensuring that businesses involved in shipping and maritime trade comply with the myriad national and international regulations governing this industry. These regulations can be complex and multifaceted, covering areas such as vessel safety, environmental protection, cargo handling, and international trade agreements. Maritime lawyers help clients navigate this intricate legal landscape, ensuring that they remain in full compliance with all applicable laws.

Moreover, maritime lawyers are indispensable in the event of disputes or accidents at sea. Whether it’s a collision between vessels, cargo damage during transport, or issues related to maritime insurance, these legal experts step in to provide guidance, mediation, and representation. Their profound understanding of maritime law allows them to swiftly address and resolve disputes, protecting their clients’ interests and mitigating potential financial losses.

In addition to dispute resolution, maritime lawyers in Vietnam are adept at contract drafting and negotiation within the maritime industry. This is particularly critical when it comes to charter parties, vessel purchase agreements, cargo handling contracts, and other maritime-specific contracts. Ensuring that these contracts are carefully drafted and legally sound can prevent disputes and costly litigation down the road, highlighting the preventive role played by maritime lawyers.

Lastly, maritime lawyers act as advocates for their clients on various fronts, including before maritime authorities, governmental agencies, and international organizations. Their ability to represent clients effectively in legal matters related to the maritime sector contributes significantly to the smooth operation of maritime businesses and ensures their compliance with all relevant regulations.

In conclusion, the importance of maritime lawyers in Vietnam cannot be overstated. Their role encompasses compliance with complex regulations, dispute resolution, contract negotiation, and advocacy, all of which are vital for businesses engaged in maritime trade and activities. With their expertise, maritime lawyers help clients navigate the intricacies of this dynamic sector, ultimately contributing to the success and sustainability of the maritime industry in Vietnam.

Matters to be handled by maritime lawyers in Vietnam

An overview of the a number of the kinds of maritime claims, casualties and transactions that admiralty and maritime lawyers regularly handle is as following:

Casualty Defense, Investigation and Litigation

Collisions

Cargo damage

Personal injury and death (seamen, longshoremen and passengers)

Property damage

Product liability

Shipowner’s limitation of liability

Marine Liability Insurance

Commercial Disputes

Bills of Lading

Charter party disputes

Vessel mortgage foreclosure

General Average and Salvage Claims

Vessel Regulatory Matters

Regulatory compliance

Civil fines and penalties

Security issues

Maritime Contracts

Contracts of affreightment, bills of lading and charter parties

Drafting and advice

Recreational Boating

Injuries and Property Damage

Product Liability

Sales and documentation

Subrogation

ANT Lawyers has law been partnering with a number of UK, US, and Australian law firms in advising clients in admiralty and maritime in Vietnam.

About ANT Lawyers, a law firm in Vietnam

We help clients overcome cultural barriers and achieve their strategic and financial outcomes, while ensuring the best interest rate protection, risk mitigation and regulatory compliance. ANT lawyers has lawyers in Ho Chi Minh city, Hanoi, and Danang, and will help customers in doing business in Vietnam.

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