Topic
Special Treatment for SOEs
in Vietnam
Start up with a Sole
Proprietorship
Enterprise seal under Law
on Enterprises 2014
No fundamental clause for
the Sales contract under
VCL 2005
Non written form of the
International Sale of Goods
Contract
Maximum amount of 8% of
the penalty remedy
Fundamental breach under
VCL 2005 (in comparison
with CISG 1980)
Publicity principle of
commercial dispute
settlement by the court
Support Against
Competitiveness with International Treaties
foreign rivals.
Tools for regulating the
economy.
SMEs Vietnam with small International viewpoint
capital => less attractive Unlimited liability
to the investors if limited
liability.
Save time, expense, effort Fake seal and not cost
for enterprises and effective
government
Flexibility and freedom of International Scale
2 parties
Focus on Vietnam Focus on Vietnam Situation
Situation
Focus on Vietnam Vietnam: Only Penalty, Not
Situation Liquidated Damages, which
contrast to the world.
VN Government Intervention.
Drawbacks and notices of Foreseeability
CISG
Focus on arbitration Confidential situations
Resolving commercial Private settings Cancellation of arbitral
disputes by arbitration awards
Cancellation of arbitral Focus on 2 levels of Contract – mutual agreement
award under Vietnamese award mechanism (first final and binding -> no
Law instance court and court cancellation.
of appeal) International practices
(reality)