Several common types of contract: Representation contract
Content
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The
2015 Civil Code
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Contract form
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Written.
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Other forms of similar legal value
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No
specific regulations on this shall be applied.
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Scope of representation
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A
part or all of commercial activities that fall within the scope of operations
of the principal
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Activities
that fall within the scope of authorization.
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Period of representation
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This is subject to any agreement between contracting parties.
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In the absence of any agreement, the period of representation shall end when
the principal notifies the representative of termination of the contract or
the representative notifies the principal of termination of the contract.
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This is subject to any agreement between contracting parties.
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Unless agreed upon and prescribed by laws, the period of representation shall
be 01 year from the date on which representation is made effective.
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Rights and obligations of the representative
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Unless
otherwise agreed, the representative shall have the following obligations:
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Perform commercial activities on behalf of and in the interests of the
principal;
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Notify the principal of chances and results of commercial activities
permitted under authorization;
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Comply with instructions given by the principal if these instructions do not
violate laws;
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Do not carry out commercial activities permitted under authorization in their
own name or in the name of the third party;
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Do not reveal or provide other persons with secret information about
commercial activities of the principal during the period of representation
and within the period of two years from the date of termination of the
contract;
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Keep property and documents given for representation purposes.
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Carry out works that fall under the scope of representation and report to the
principal on the status of these works.
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Notify the third person involved in the representation relationship of the
duration, scope of authorization, and any modification or supplementation of
authorization.
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Safekeep documents and equipment assigned for representation purposes.
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Ensure that any information that they obtain during the process of
implementing representation are kept confidential.
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Return property received under authorization and interests gained during the
process of carrying out representation activities according to agreements or
laws.
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Make compensation for any loss or damage resulted from breach of the
obligations specified in this Article.
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Request the principal to provide information, documents and equipment
necessary to carry out works that fall within the scope of authorization.
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Qualify for payments of any reasonable cost that they have spent to carry out
works; receive remunerations if these remunerations are agreed upon in the
contract.
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Rights and obligations of the principal
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Unless
otherwise agreed, the principal shall have the following obligations:
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Promptly notify the representative of conclusion of the contract that the
representative has negotiated, execution of the contract that the
representative has concluded, acceptance or disapproval of activities falling
outside of the scope of representation that the representative is carrying
out;
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Provide property, documents and information necessary for the
representative’s works.
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Pay remunerations and other reasonable costs to the representative;
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Promptly notify the representative of possibility of failing to sign or
implement a contract within the scope of representation.
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Provide information, documents and equipment necessary for the representative
to carry out their contractual works.
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Bear responsibility for any commitment within the scope of authorization that
the representative implements.
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Pay reasonable costs that the representative has spent on carrying out their
works; pay remunerations to the representative if these remunerations are
agreed upon in the contract.
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Request the representative to notify them in detail of their performance.
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Request the representative to give back the property or benefits gained from
carrying out their works, unless otherwise agreed.
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Receive compensation for any loss or damage resulted from the
representative’s breach of the obligations specified in Article 565 of the
2015 Civil Code.
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Remuneration
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- This
is subject to any agreement between contracting parties.
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In the absence of an agreement on this, the rate of remuneration shall be calculated
based on the service price as provided by the 2005 Law on Commerce.
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Remuneration
shall be paid only if agreed between parties or prescribed by laws.
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Reading in Vietnamese: Hợp đồng đại diện
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