04 notable point about trust service in Vietnam under the Law on Electronic Transactions 2023

04 notable point about trust service in Vietnam under the Law on Electronic Transactions 2023 (Internet image)

Regarding this issue, LawNet would like to answer as follows:

1. What is trust service?

Each trust service is a conditional business line. A trust service includes:

- Timestamping service;

- Data message authentication service;

- Public digital signature authentication service.

(Clause 1, 2, Article 28 of the Law on Electronic Transactions 2023)

2. Regulations on requirements for trust service provision in Vietnam

According to Clause 1, Article 29 of the Law on Electronic Transactions 2023, requirements for trust service provision include:

- Being enterprises which are legally established and operated in the territory of Vietnam;

- Satisfying financial, managerial and technical requirements for each type of trust service specified in Section 1;

- Having information systems serving the trust service provision which satisfy at least information security level 3 requirements according to regulations of law on information security;

- Having technical plans serving the provision for each type of trust service specified in Section 1;

- Having plans for technical connections serving supervision, inspection and data reporting by electronic means, which satisfy requirements for state management of trust services.

3. What is the time limit of trust services business license in Vietnam?

Each trust service provider must have a service business licence granted by the Ministry of Information and Communications, except electronic contract authentication services in commerce. The provider is entitled to register one or several services prescribed in Section 1.

Time limit of the business licence is 10 years.

Thus, the trust services business license will be valid for 10 years.

(Clause 3, Article 28 of the Law on Electronic Transactions 2023)

4. Responsibilities of trust service providers in Vietnam

Responsibilities of trust service providers in Vietnam include:

- Publicly disclose procedures for registering use of services, forms and relevant costs.

- Ensure 24/7 collection of information and provision of services.

- Store applications and documents, connect and provide information and data by electronic means in accordance with regulations of law.

- Ensure that equipment in information systems is coded and ready for technical connection serving state management of trust services.

- Implement professional measures, suspend, stop provision of services or other professional measures at the request of competent authorities according to regulations of law.

- Act as administrators of information system serving trust service provision which satisfy at least information security level 3 requirements according to regulations of law on information security.

- Annually report the trust service provision according to regulations of competent authorities.

- Pay service fees for maintaining systems for checking status of digital signature certificates according to regulations of law on fees and charges.

(Article 30 of the Law on Electronic Transactions 2023)

The Law on Electronic Transactions 2023 takes effect on July 1, 2024.

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