If a notary causes damage due to a mistake, does he have to pay compensation in Vietnam?
If a notary causes damage due to a mistake, does he have to pay compensation in Vietnam? Who has obligations to purchase professional liability insurance for notaries in Vietnam?
Hi, I'm currently a final year student, I plan to go to study about notary after graduation, I want to learn about the above issues, could you please advise?
If a notary causes damage due to a mistake, does he have to pay compensation in Vietnam?
Pursuant to Article 38 of the Law on Notary 2014 there are provisions on compensation and indemnity in notarial activities as follows:
1. Notarial practice organizations shall pay compensation for damage caused to notarization requesters and other organizations and individuals due to faults of their notaries or employees or interpreters being their collaborators in the process of notarization.
2. Notaries, employees or interpreters being collaborators who cause damage shall indemnify the notarial practice organization for the compensation amount already paid by this organization to the damage sufferer in accordance with law; in case they fail to indemnify such amount, the notarial practice organization may request a court to settle.
According to this Article, although notaries do not have to compensate for the damage they cause in notarization activities, the notaries will have to reimburse this amount to the notarial practice organizations in Vietnam.
Who has obligations to purchase professional liability insurance for notaries in Vietnam?
Pursuant to Article 37 of the Law on Notary 2014, there are regulations on professional liability insurance for notaries as follows:
1. Professional liability insurance for notaries is compulsory insurance. The purchase of professional liability insurance for notaries shall be maintained throughout the operation duration of a notarial practice organization.
2. Notarial practice organizations are obliged to purchase professional liability insurance for their notaries.
Within 10 working days from the date of insurance purchase or the date of modification or extension of contracts on professional liability insurance for notaries, a notarial practice organization shall notify such and send copies of these contracts or the modified or extended contracts to the provincial-level Justice Department.
3. The Government shall stipulate in detail conditions for, premium rates and minimum premiums of, professional liability insurance for notaries.
Thus, professional liability insurance for notaries will be purchased by notary practice organizations in Vietnam.
Best Regards!
