Vietnam: The operation charter of the Goods Exchange must have the 12 following contents

09:28, 05/01/2007

This is a notable content of Decree No. 158/2006/NĐ-CP of Vietnam’s Government detailing the implementation of the Commercial Law regarding goods purchase and sale through the Goods Exchange.

Điều lệ hoạt động của Sở Giao dịch hàng hóa, Nghị định 158/2006/NĐ-CP

According to Article 14 of Decree No. 158/2006/NĐ-CP of Vietnam’s Government, the operation charter of the Goods Exchange must have the following principal contents:

- Conditions and procedures for recognizing the member status; rights and obligations of members;

- Cases of termination of the member status and responsibilities thereupon;

- Type of goods for trading; standards and units of measurement of such type of goods;

- Model trading contract and trading order;

- Time limit for contractual trading and trading process;

- Trading limits, collateral and fee;

- Methods and procedures for contract performance;

- Information to be disclosed by the Goods Exchange and operation reports and financial statements of the members;

- Risk management measures;

- Settlement of disputes;

- Amendment or supplementation of the operation charter;

- Other relevant contents.

Thus, the operation charter of the Goods Exchange must have the above-mentioned contents and must not contravene the provisions of this Decree and current provisions of law.

View more details at Decree No. 158/2006/NĐ-CP of Vietnam’s Government, effective from January 22, 2007.

Ty Na

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