COMMERCIAL LAW (REVISED - 2005) THE STATE PRESIDENT
ORDER No. 10/2005/L-CTN OF JUNE 27, 2005, ON PROMULGATION OF LAW THE PRESIDENT OF THE SOCIALIST REPUBLIC OF VIETNAM Pursuant to Article 103 and Article 106 of the 1992 Constitution of the Socialist Republic of Vietnam, which was amended and supplemented under Resolution No. 51/2001/QH10 of 25 December, 2001, of the Xth National Assembly, the 10th session; Pursuant to Article 91 of the Law on Organization of the National Assembly; Pursuant to Article 50 of the Law on Promulgation of Legal Documents, HEREBY PROMULGATES: The Commercial Law, which was passed on June 14,2005, by the XIth National Assembly of the Socialist Republic of Vietnam at its 7th session. President of the Socialist Republic of Vietnam TRAN DUC LUONG
(No. 36/2005/QH11) Pursuant to Article 103 and Article 106 of the 1992 Constitution of the Socialist Republic of Vietnam, which was amended and supplemented under Resolution No. 51/2001/QH10 of 25 December, 2001, of the Xth National Assembly, the 10 th session; This Law provides for commercial activities.
CHAPTER 1: GENERAL PROVISION
GENERAL PROVISION 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 mean 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 movables, 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 identify 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 involved parties in order to identify their respective rights and obligations in commercial activities. 5. Data message means information created, sent, received and stored in electronic media. 6. Vietnam-based representative office of a foreign trader means a dependent unit of the foreign trader, which is established under the provisions of Vietnamese law to conduct market survey and a number of commercial promotion activities permitted by Vietnamese law. 7. Vietnam-based branch 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...
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