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Official Gazette

Thursday, February 22, 2018
Tags: Civil Code
Control and handling of corrupt acts in the private sector through accountability mechanism Control and handling of corrupt acts in the private sector through accountability mechanism
Corruption in the non-state business sector happens when someone takes advantage of his/her position in his/her enterprise for the sake of his/her personal gains. In Vietnam, the 2015 Penal Code (revised in 2017) has broadened the scope of corrupt acts to include corruption occurred in the private sector. Specifically, persons with high positions and/or powers in a non-state enterprise or organization will be liable for the following criminal acts: embezzlement, receiving bribes, giving bribes and bribery brokerage. However, in order to effectively prevent and combat corruption in the private sector, holding persons committing corrupt acts liable is not sufficient enough.
New regulations on interest: a view from credit extension practice New regulations on interest: a view from credit extension practice
The State Bank of Vietnam (SBV) has recently issued some new regulations guiding lending activity of credit institutions and branches of foreign banks (credit institutions). These regulations have a significant effect on lending activity of credit institutions. Enacted to address the limitations of the precedent regulations, they also have some unclear points which might limit their effect. This article analyzes regulatory issues relevant to interests on loans of credit institutions.
Vietnamese rules on compensation for contractual damage Vietnamese rules on compensation for contractual damage
In both legal theory and civil transaction practice, regulations on liability to compensate for contractual damage always play an important role. Theoretically, it is the concretization of the principles of equality, free will, good will, binding of contract, and theories of fault and damage in civil liability.
Building an equal relationship between the State and citizens Building an equal relationship between the State and citizens
Rule-of-law institutions of citizens and of the state are part of a rule-of-law state. The history of building rule-of-law states around the world shows that in order to successfully build rule-of-law institutions of the state, it is a must to simultaneously establish, or even give priority to establishing, rule-of-law institutions of citizens.
Remedies for breach of contract under the Civil Code: a comparative analysis Remedies for breach of contract under the Civil Code: a comparative analysis
The 2015 Civil Code recognizes unilateral termination and cancellation of contract as new remedies for breach of contract. It states that penalty for breach of contract and compensation for damage will still be enforced after the contract is cancelled or unilaterally terminated.
Asset registration brought up for discussion Asset registration brought up for discussion
Regulations on asset registration remain disperse and lack consistency while the ownership registration requested for a number of assets have not yet been ruled, heard a workshop recently held by the Ministry of Justice in Lam Dong province.
Free will to enter into contract under the Civil Code Free will to enter into contract under the Civil Code
Freedom of contract in general or free will to enter into contract in particular is one of the basic principles of private law and civil code. Vietnam’s 2015 Civil Code contains necessary revisions to better guarantee these principles in the country’s private law system and in the formation and perfection of legal behavioral standards for subjects of private relations in conformity with international customs and practices.
Enforcement of security under the new resolution on dealing with bad debts Enforcement of security under the new resolution on dealing with bad debts
Resolution No. 42/2017/QH14 on trial dealing with non-performing loans of credit institutions was passed on June 21, 2017, by the National Assembly. It took effect on August 15, 2017, and remains in force for five years from that date. The resolution is a long-awaited text and expected to help credit institutions to better deal with their non-performing loans. A significant number of provisions of this text are about secured transactions which are at the heart of the process of recovery of bank loans for the time being. This article tries to give an overview of the text.
Third-party security in the Civil Code Third-party security in the Civil Code
The 2015 Civil Code provides nine measures to secure the performance of civil obligations according to two approaches, namely law-prescribed security and agreement-based security, and security without property and security with property. Under either approach, the issue that attracts special attention from the parties to civil transactions is whether third-party security is recognized and what legal contents of this issue are. This article touches upon the issue in light of the Code.
Legal status of foreigners in civil proceedings in Vietnam Legal status of foreigners in civil proceedings in Vietnam
The legal status of foreign entities in civil proceedings under Vietnamese law encompasses their civil procedure law capacity, civil litigation act capacity, and rights and obligations when participating in civil proceedings in Vietnam. In this article, foreign entities refer to foreigners, foreign agencies and organizations and their Vietnam-based branches and representative offices.

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