What are contents of real estate brokerage service agreement in Vietnam?

1. What are contents of real estate brokerage service agreement in Vietnam? 

Pursuant to Clause 4, Article 61 of the Law on Real Estate Business 2014 stipulates as follows:

4. The real estate service agreement agreed by contracting parties shall contain

a) Names and addresses of contracting parties;

b) Entities and content of the services;

c) Requirements and results of the services;

d) Service provision duration;

dd) Service fee, remuneration, and service commission;

e) Payment method and deadline;

g) Rights and obligations of contracting parties;

h) Dispute settlement;

i) Effective date of the agreement.

2. Are real estate brokerage service agreements required to be notarized in Vietnam?

Pursuant to Clause 2, Article 61 of the Law on Real Estate Business 2014 stipulates as follows:

2. The real estate service agreement must be made in writing. The agreement’s notarization or authentication shall be agreed by contracting parties.

Thus, the agreement’s notarization or authentication shall be agreed by contracting parties in Vietnam.

3. What is effective date of real estate brokerage service agreements in Vietnam?

Pursuant to Clause 3, Article 61 of the Law on Real Estate Business 2014 stipulates as follows:

3. The effective date of the agreement shall be agreed by contracting parties and stated in the agreement. In case the agreement is notarized or authenticated, the effective date of the agreement is the date on which it is notarized or authenticated. If there is no agreement between contracting parties or the agreement is not notarized or authenticated, the effective date of the agreement shall be the day on which it is signed.

Best Regards!