Penalties for Violations and Compensation for Damages as the Only Two Sanctions in Commerce?
Based on Article 292 of the 2005 Commercial Law regulating sanctions in commerce as follows:
Compulsory performance of the contract.
Penalty for breach.
Mandatory compensation for damages.
Temporary suspension of contract performance.
Termination of contract performance.
Cancellation of the contract.
Other measures agreed upon by the parties that are not contrary to the fundamental principles of Vietnamese law, international treaties to which the Socialist Republic of Vietnam is a member, and international commercial customs.
Thus, according to the regulations, there are numerous sanctions in commercial activities as mentioned above, not just the two most common sanctions of mandatory compensation and penalty for breach.
Respectfully!
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