Do I have to notarize a 2-year lease contract in Vietnam?

Do I have to notarize a 2-year lease contract in Vietnam?

I'm about to sign a lease contract, the lease term is 2 years, so I have to have it notarized, right? Because I heard that lease contracts of 6 months or more must be notarized.

Previously, according to the provisions of Article 492 of the 2005 Civil Code, for housing lease contracts with a term of 6 months or more, it must be notarized or authenticated and must be registered, unless otherwise provided by law. 

However, currently, based on Article 472 of the 2015 Civil Code, regulations on contracts for lease of property are as follows:

Contract for lease of property means an agreement between parties whereby a lessor delivers property to a lessee for use during a fixed term and the lessee is required to pay rent.

Lease contracts of houses or lease contracts of houses for other purposes shall comply with this Code, the Law on Housing and relevant laws.

And Clause 2, Article 122 of the 2014 Housing Law stipulates the notarization and authentication of agreements and effective date of housing agreements as follows:

2. Regarding transactions in giving houses of gratitude; sale or lease purchase of state-owned housing; sale or lease purchase of social housing, housing serving the relocation; contributed housing which one entity of contracting parties is an organization; housing lease, lending, permission for stay, or authorization of housing management, it is not required to notarize or authenticate the agreement, unless contracting parties wish to notarize or authenticate the agreement.

Regarding any agreement prescribed in this Clause, the effective date of the agreement shall be agreed by contracting parties; if the contracting parties do not agree, the effective date of agreement shall be the date on which the agreement is signed.

According to the above regulations in Vietnam, currently, housing lease contracts are not required to be notarized or authenticated unless the parties so wish. Therefore, if your lease contract has a term of 2 years, it is not required to be notarized in Vietnam.

Do I have to notarize a 2-year lease contract in Vietnam? (Image from the Internet)

Is changing payment account number in the sale contract required re-signing of the contract in Vietnam?

Our company has signed a sales contract with company A. Now we want to change the account number to another bank so that party A can transfer money there. So let me ask, do we need to re-sign a new contract?

According to the information you provided, between your company and company A, sale contract of property arose according to the provisions of Article 430 of the 2015 Civil Code. Currently, your company wants to change the payment account number information specified in the previous contract agreement between the two parties.

Pursuant to the provisions of Clause 1, Article 403 of the 2015 Civil Code:

1. Appendices providing details on certain terms and conditions of a contract may be attached to the contract. The appendices shall have the same effectiveness as the contract. The contents of the appendices shall not contradict the contents of the contract.

According to this regulation in Vietnam, in case your company's payment information is only changed without affecting other contents of the contract, the two parties do not need to sign a new contract.

Instead, you can sign an appendice to the contract to stipulate payment account information in Vietnam. The content of this appendice is ​​determined to be part of the contract and has the same value as the contract, serving as a basis for determining the rights and obligations of the parties when a dispute arises.

If I withdraw from cooperation contract, will I reclaim my contributed property in Vietnam?

Please ask, in what cases does a member have the right to withdraw from the cooperation contract? When they withdraw, will they receive their contributed assets back? Thanks for advice.

Pursuant to Clauses 1 and 2, Article 510 of the 2015 Civil Code stipulates:

1. A member has the right to withdraw from the cooperation contract in any of the following cases:

a) Satisfy the conditions specified in the cooperation contract;

b) There is a good reason and the consent of more than half the total cooperative members.

2. The member withdrawing from the cooperation contract has the right to reclaim contributed property, divided part of the property in the common property and must pay all obligations under the agreement. Where the division of property in kind affects the cooperation activities, the property are worth the money to divide.

The withdrawal of a member from the cooperation contract does not terminate his/her rights and obligations that are established or performed before the withdrawal time.

Thus, when withdrawing from the cooperation contract, the member has right to request the return of the contributed assets, to share the assets in the common assets, and at the same time to pay the obligations according to the agreement in Vietnam.

Best regards!