THE LAW ON COMMERCE OF THE ASSEMBLY OF SOCIALIST REPUBLIC OF VIETNAM
Pursuant to Articles 103 and 106 of the 1992 Constitution of the Socialist Republic of Vietnam, which was amended and supplemented under Resolution No. 51/2001/QH10 dated on 25 December 2001 of the X the National Assembly, the 10th session; This Law provides for commercial activities
CHAPTER I: GENERAL PROVISIONS SECTION 1: GOVERNING SCOPE AND SUBJECTS OF APPLICATION
Article 1. Governing scope 1.Commercial activities conducted in the territory of the Socialist Republic of Vietnam. 2.Commercial activities conducted outside the territory of the Socialist Republic of Vietnam in cases where the involved parties agree to this Law for application, or where a foreign law or a treaty to which the Socialist Republic of Vietnam is a contracting party stipulates the application of this Law. 3.Activities not for profit purposes conducted by a party in its transactions with traders in the territory of the Socialist Republic of Vietnam in cases where the party conducting such not-for-profit activities chooses to apply this Law.
Article 2. Subjects of application 1.Traders conducting commercial activities as provided for in Article 1 of this Law. 2.Other organizations and individuals conducting commerce related activities. 3.Basing itself on the principles provided for by this Law, the Government shall specify the application of this Law to individuals who independently and regularly conduct commercial activities without having to make business registration
Article 3: Interpretation of terms In this Law, the following terms shall be construed as follows:
1.Commercial activities means activities for the purpose of generating profits, including sale and purchase of goods, provision of services, investment, commercial promotion and other activities for the profit purpose. 2.Goods include: a.All types of moveables, including those to be formed in the future; b.Things attached to land; 3.Custom in commercial activities means a code of conduct that has an explicit meaning, is established and repeated time and again for a long period of time between and implicitly recognized by involved parties in order indentify their respective rights and obligations in commercial contracts. 4.Commercial practice means a custom that is widely recognized in commercial activities in an area, a region or a commercial domain , has an explicit meaning, and is recognized by involve parties in oder to indentify their respective rights and obligations in commercial activities. 5.Data message means information created, sent, received and stored in electronic media 6.Vietnam-based reprentative office of a foreign trader means a dependent unit of the foreign trader, which is established under the provision of Vietnamese law to conduct market survey and a number of commercial promotion activities permitted by Vietnamese law. 7.Vietnam-based representative office of a foreign trader means a dependent unit of the foreign trader, which is established and conducts commercial activities in Vietnam under the provisions of Vietnamese law or treaties to which the Socialist Republic of Vietnam is a contracting party. 8.Purchase and sale of goods means commercial activities whereby the seller is obliged to deliver goods, transfer ownership of goods to the purchaser and receive payment; the purchaser is obliged to pay to the seller and receive goods and the ownership thereof as agreed. 9.Provision of services means commercial activities whereby a party (hereinafter referred to as the service provider) is obliged to provide a service to another party and receive payment; the service-using party (hereinafter referred to as the customer) is obliged to pay to the service provider and use the service as agreed. 10.Commercial enhancement means activities promoting and seeking opportunities for the purchase and sale of goods and for the provision of services, comprising promotional activities, commercial advertising, displays and introductions of goods and services, and trade fairs and exhibitions. 11.Commercial intermediary activities mean activities conducted by business entities in order to carry out commercial transactions for one or more specified traders, and comprises representation of business entities, commercial brokerage, purchase and sale of goods by authorized dealers, and commercial agency 12.Breach of contract means one party fails to perform, fails to perform fully or performs incorrectly an obligation in accordance with an agreement of the parties or in accordance with this Law. 13.Fundamental breach means breach of contract by one party causing loss to the other party to the extent that such other party is unable to achieve its objective in entering the contract. 14.Origin of goods means the country or territory where the goods were totally manufactured, or where the final and fundamental processing stage was implemented in respect of goods for which a number of countries or territories participate in the manufacturing process. 15.Forms with validity equivalent to that of a written document comprises telegraphs, telexes, facsimiles, data messages and other forms pursuant to law.
Article 4. Applicability of Commercial Law and other relevant laws 1.Commercial activities must comply with the Commercial Law and other relevant laws. 2.In the case of specialized commercial activities as prescribed in another law, the provisions of such other law shall apply. 3.The provisions of the Civil Code shall apply to a commercial activity which is not governed by provisions in the Commercial Law or by provisions in other laws. more detail....
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