Vietnam: Principle contents of a petrol and oil agent contract

According to Circular No. 38/2014/TT-BCT of the Ministry of Industry and Trade of Vietnam, a petrol and oil agent contract shall be made in writing with a validity duration of at least twelve (12) months, including the following principle contents:

- Names, addresses and tax identification numbers of the agent and principal; form of agency; quantity, quality and kinds of petrol and oil, method of delivery and receipt, sale price, and agency remuneration; and other commitments as prescribed by law and this Circular;

- Responsibilities of related parties for the quality of petrol and oil; petrol and oil quality inspection and supervision and joint responsibility for the quantity and quality of petrol and oil sold within the network of petrol and oil agents of the key trader, distributor or general agent (when acting as principals);

- Specific provisions on supply of invoices and documents; payment of remuneration; and invoices and documents on goods transported on roads by petrol and oil vehicles of agents as prescribed by the Ministry of Finance;

- Selection of petrol and oil vehicles of agents and insurance responsibility for persons and vehicles, safety during transportation, responsibility for the quantity and quality of petrol and oil, risks, losses, process of delivery and receipt, and freight, and other agreements and commitments of related parties.

Note:

- Principal means a key trader, petrol and oil distributor or petrol and oil general agent that delivers petrol and oil to agents.

- Agent means a petrol and oil general agent or petrol and oil retail agent that receives petrol and oil from a principal.

View full text at Circular No. 38/2014/TT-BCT of the Ministry of Industry and Trade of Vietnam, effective from November 01, 2014.

Thu Ba

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