Do authorization contracts with payment of remuneration upon termination have to be notified to principals in Vietnam? What are rights of principals in Vietnam?
Do authorization contracts with payment of remuneration upon termination have to be notified to principals in Vietnam? What are rights of principals in Vietnam?
I asked my friend to do some land-related work, so I made a power of attorney with the corresponding remuneration, but now I want to terminate this authorization, do I have to notify my friend? Please advise.
Do authorization contracts with payment of remuneration upon termination have to be notified to principals in Vietnam?
Pursuant to Article 569 of the 2015 Civil Code provides for unilateral termination of performance of authorization contracts as follows:
1. Where an authorization involves payment of remuneration, the principal has the right, at any time, to terminate unilaterally the performance of the contract but must remunerate the attorney in proportion to the acts performed and compensate for damage. If the authorization does not involve payment of remuneration, the principal has the right, at any time, to terminate the performance of the contract, subject to giving reasonable prior notice to the attorney.
A principal must notify any third person in writing of the termination of the performance of the contract by the principal. If the principal fails to do so, any contract with any such third person shall remain in effect, unless such third person knows or should know of the termination of the performance of the contract.
2. Where an authorization does not involve payment of remuneration, the attorney has the right, at any time, to terminate unilaterally the performance of the contract, subject to giving reasonable prior notice to the principal. If the authorization involves payment of remuneration, the attorney has the right, at any time, to terminate unilaterally the performance of the contract and must compensate for any damage caused to the principal.
Thus, according to current regulations in Vietnam, in case you want to terminate this authorization, it is necessary to consider the notice of whether this authorization contract has remuneration or not. In the case of remuneration, you should notify the attorney in advance within a reasonable time.
What are rights of principals in Vietnam?
According to Article 568 of the 2015 Civil Code, rights of principals are as follows:
1. Require the attorney to report fully on the performance of the authorized act.
2. Require the attorney to return any property and benefits derived from the performance of the authorized act, unless otherwise agreed.
3. Compensate for damage caused by a breach of any of the obligations provided in Article 565 of this Code.
Best Regards!
