Vietnam: What is the latest authorization letter form applicable to enterprises? What are the regulations on the representation period under the 2015 Civil Code?
What is the latest authorization letter form applicable to enterprises in Vietnam?
Currently, an authorization letter can be understood as a document between an individual and an individual or an individual and an organization to establish the right to represent the authorizing individual/organization.
At enterprises in Vietnam, an authorization letter is often used for management, and representatives authorize employees to perform specific tasks and carry out administrative procedures.
The below contents are a few authorization letter forms applicable to enterprises in Vietnam:
> Authorization Letter Form 1: Here
> Authorization Letter Form 2: Here
> Authorization Letter Form 3: Here
What are the regulations on the representation period in Vietnam under the 2015 Civil Code?
Under the provisions of Article 140 of the 2015 Civil Code as follows:
Representation period
1. The representation period shall be determined according to an authorization letter, a decision of a competent authority, and a charter of a juridical person or as prescribed by law.
2. If it fails to determine the representation period prescribed in Clause 1 of this Article, the representation period shall be determined as follows:
a) If the representation right is determined according to a specific civil transaction, the time limit for representation shall be determined until the time of termination of such civil transaction;
b) If the representation right is not determined according to a specific civil transaction, the representation period is 1 year, from the time of arising representation right.
3. The authorized representation shall terminate in any of the following cases:
a) Upon an agreement;
b) Upon expiry of the term of authorization;
c) Upon completion of the authorized tasks;
d) The principal or the representative unilaterally revokes the authorization;
dd) The principal or the representative being natural person dies; the principal or the representative being juridical person ceases to exist;
e) The representative does not meet the conditions prescribed in Clause 3 Article 134 of this Code;
g) Upon another basis that causes the failure of the representation.
4. The legal representation shall terminate in any of the following cases:
a) The principal being natural person becomes an adult or has his/her legal capacity restored;
b) The principal being person dies;
c) The principal being a juridical person ceases to exist;
d) Upon another basis as prescribed in this Code and relevant laws.
Thus, currently, the representation period shall follow the above content.
Specifically, the representation period shall be determined according to an authorization letter, a decision of a competent authority, and a charter of a juridical person or as prescribed by law.
If it fails to determine the representation period, the representation period shall be determined as follows:
- If the representation right is determined according to a specific civil transaction, the time limit for representation shall be determined until the time of termination of such civil transaction;
- If the representation right is not determined according to a specific civil transaction, the representation period is 1 year, from the time of arising representation right.
What are the obligations of enterprises in Vietnam under current regulations?
Under the provisions of Article 8 of the Enterprise Law 2014, the obligations of enterprises in Vietnam are determined as follows:
- Satisfy the conditions when engaging in the business lines subject to business conditions as prescribed by the Law on Investment; maintain the fulfillment of such conditions throughout the business operation.
- Do accounting, make and submit truthful financial statements in a timely manner according to regulations of law on accounting and statistics.
- Declare, pay taxes and fulfill other financial obligation as prescribed by law.
- Ensure the lawful rights and interests of employees according to regulations of law on employment; do not show discriminatory behaviors or insult employees in the enterprise; do not employ children and forced labour; provide support for and enable employees to have professional training; buy social insurance, unemployment insurance, health insurance, and other types of insurance for employees.
- Ensure and take responsibility for quality of goods/services according to standards prescribed by law or registered/announced standards.
- Fulfill obligations pertaining to business registration, changes of business registration information, disclosure of information about the enterprise establishment and operation, and other obligations prescribed in this Law and relevant laws.
- Take responsibility for the truthfulness and accuracy of information in the application for business registration and reports; rectify incorrect information.
- Comply with regulations of law on national defense and security, social order and safety, gender equality, protection of natural resources, the environment, historic sites and natural monuments.
- Exercise the obligations about business ethics to protect the lawful rights and interests of customers and consumers.
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