What are commercial activities in Vietnam? What are the fundamental principles in commercial activities in Vietnam?
What are commercial activities in Vietnam? Which activities are included in commercial activities?
The interpretation of commercial activities is defined in Clause 1, Article 3 of the 2005 Commercial Law in Vietnam as follows:
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.
Thus, it can be understood that commercial activities mean activities for the purpose of generating profits. Commercial activities include the following activities:
- Purchase and sale of goods: is a commercial activity in which the seller is obliged to deliver the goods, transfer the ownership of the goods to the buyer and receive payment; the buyer is obliged to pay the seller, receive the goods and take ownership of the goods as agreed.
- Provision of services: is a commercial activity whereby one party (service provider) is obliged to perform a service for another party and receive payment; the service user (customer) is obliged to pay the service provider and use the service as agreed.
- Trade promotion: means commercial activities to promote, seek opportunities to buy and sell goods and provide services, including promotional activities, commercial advertising, display and introduction of goods, and services and trade fairs and exhibitions.
- Other profitable activities: Goods processing, Goods auction, Goods and service bidding, Logistics services, Cargo transit services, Inspection services, Cargo leasing, Franchising, etc.
What are commercial activities in Vietnam? What are the fundamental principles in commercial activities in Vietnam?
How many fundamental principles are there in commercial activities in Vietnam?
Pursuant to the provisions of Section 2, Chapter I of the 2005 Commercial Law in Vietnam, commercial activities have 06 principles as follows:
- Principle of traders’ equality before law in commercial activities;
- Principle of freedom and freewill to agreement in commercial activities;
- Principle of application of customs in commercial activities pre-established between parties;
- Principle of application of practices in commercial activities;
- Principle of protection of legitimate interests of consumers;
- Principle of recognition of legal validity of data messages in commercial activities.
What are the contents of the fundamental principles in commercial activities in Vietnam?
Pursuant to the provisions of Article 10 of the 2005 Commercial Law in Vietnam, Article 11 of the 2005 Commercial Law in Vietnam, Article 12 of the 2005 Commercial Law in Vietnam, Article 13 of the 2005 Commercial Law in Vietnam, Article 14 of the 2005 Commercial Law in Vietnam, and Article 15 of the 2005 Commercial Law in Vietnam. The fundamental principles in commercial activities are as follows:
No. | Principle | Content |
1 | Principle of traders’ equality before law in commercial activities | Traders of all economic sectors are equal before law in commercial activities. |
2 | Principle of freedom and freewill to agreement in commercial activities | - Parties have the rights of freedom to reach agreements not in contravention of the provisions of law, fine traditions and customs and social ethics in order to establish their rights and obligations in commercial activities. The State respects and protects such rights. - In commercial activities, the parties shall act on their own freewill, and neither party is allowed to impose its own will on, to force, intimidate or obstruct, the other party. |
3 | Principle of application of customs in commercial activities pre-established between parties | Except otherwise agreed, the parties shall be regarded as automatically applying customs in commercial activities pre-established between them which they have already known or ought to know, provided that such customs are not contrary to the provisions of law. |
4 | Principle of application of practices in commercial activities | Where it is neither provided for by law nor agreed by the parties, and there exist no customs pre-established between them, commercial practices shall be applied provided that such practices are not contrary to the principles provided for in this Law and the Civil Code. |
5 | Principle of protection of legitimate interests of consumers | - Traders conducting commercial activities are obliged to provide consumers with sufficient and truthful information on goods and/or services they trade in or provide and take responsibility for the accuracy of such information. - Traders conducting commercial activities must be responsible for the quality and lawfulness of goods and/or services they trade in or provide. |
6 | Principle of recognition of legal validity of data messages in commercial activities | In commercial activities, data messages which satisfy all technical conditions and standards provided for by law shall be recognized legally valid as documents. |
Thus, according to regulations, 06 basic principles in commercial activities have the above contents.
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