In Vietnam, certain
type of contract has to follow forms requested by laws as such client is
recommended to seek help from professional contract lawyers in Vietnam to help
draft or review.
Contract is an agreement
enforced by law. In Vietnam, contract is a civil transaction which parties
enter into voluntarily, each of whom intends to create, change, or terminate
one or more rights or obligations between them according to Vietnam Civil Code.
Contract plays an important role in business transaction. Written contract
provide individuals and businesses a legal document reflecting agreement,
expectation and mechanism to resolve potential disagreement or disputes.
The
lawyers in Vietnam drafting or reviewing contracts
under Vietnam laws will need to initially review the legal resources in
relevant to the transactions, research related documents and the parties
involved to provide legal opinions, make suggestions and propose an optimal
solution to the client for negotiation and contract finalization.
Basic terms and
conditions of the contracts being rights and obligations of parties to the
contracts, and other terms in regard to duration, quality, payment, dispute
handling procedures, applicable law and/or jurisdiction, confidentiality, force
majeure, intellectual property clauses…among others have to be carefully taken
into considerations.
Further, a contract
should ensure the following points to be covered:
-Use right legal terms
or terminology;
-Foresee the future
scenarios;
-Describe the specific
matters;
-Clearly mention
obligations;
-Obtain a balance
between parties involved.
There are specific
contracts in Vietnam for various transactions being:
-Joint venture
contract;
-Share purchase
contract;
-Sales contract;
-Business cooperation
contract;
-Licensing contract;
-Investment contract;
-Labour contract;
-Lease contract;
-Distribution contract;
-Construction contract;
-Prenuptial agreement.
Each business
transaction is different as such a contract is not a compilation of standard
terms and conditions. Professional contract
lawyers in Vietnam would consider the purpose of the
contract, transaction type, significance of the deal, industry, Vietnam legal
requirements and expectation of the client to prepare a legally enforceable
contract for the client, to avoid misunderstanding and protect the client
against legal disputes.
ANT Lawyers - a Law firm in Vietnam
with international standard, local expertise and strong international network.
We focus on customers’ needs and provide clients with a high quality legal advice
and services. For advice or service request, please contact us via email
ant@antlawyers.vn, or call us +84 24 730 86 529.
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