Will Franchising Without a Contract Be Subject to Penalties?
Pursuant to Clauses 1 and 6, Article 75 of Decree 98/2020/ND-CP (Effective from October 15, 2020) regulating violations in the business of franchising as follows:
- A fine ranging from 1,000,000 VND to 3,000,000 VND shall be imposed for the act of franchising without a contract as prescribed.
- Remedial measures: Compulsory confiscation of the illegal profits gained from the violation.
Thus, in cases of franchising without a contract, a fine of up to 3 million VND shall be imposed. This fine is applicable to individuals; in case of organizational violations, the maximum fine is 6 million VND (Clause 4, Article 4, Decree 98/2020/ND-CP).
Sincerely!
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