Vietnam’s Circular No. 38/2014/TT-BCT: Contents of the petrol and oil purchase and sale contract

Vietnamese traders trading petroleum in the Vietnamese market must note that a petrol and oil purchase and sale contract shall be made in writing with the following principal contents:

- Names, addresses and tax identification numbers of the seller and purchaser; quantity, quality and kinds of petrol and oil, method of delivery and receipt, and sale and purchase prices; and other commitments as prescribed by law and Circular No. 38/2014/TT-BCT of the Ministry of Industry and Trade of Vietnam.

- Responsibilities of related parties for the quality of petrol and oil.

- Specific provisions on supply of invoices and documents on petrol and oil purchase and sale; and invoices and documents on goods transported on roads by petrol and oil vehicles as prescribed by the Ministry of Finance.

Besides, Circular No. 38/2014/TT-BCT also stipulates that a petrol and oil retail franchise contract shall be made in writing with a validity duration of at least twelve (12) months, including the following contents:

- Names, addresses and tax identification numbers of the franchisor and franchisee; contents of the petrol and oil retail right; quantity, quality and kinds of petrol and oil and method of delivery and receipt; prices, periodical franchise charges and method of payment; and other commitments as prescribed by law and this Circular;

- Specific provisions on supply of invoices and documents on petrol and oil upon franchise; and invoices and documents on goods transported on roads by petrol and oil vehicles as prescribed by the Ministry of Finance.

View other provisions 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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