Vietnam: Trading members shall notify customers right after executing transactions

According to Article 48 of Decree No. 158/2006/NĐ-CP of Vietnam’s Government, right after executing transactions for their customers, trading members shall notify in writing those customers of results of order placement through the Goods Exchange.

- In case of order matching, trading members shall notify their customers of the following information: trading form; goods for trading; time and date of transaction execution; number of sale or purchase contracts; trading price; total value of executed transactions; trading charge; other contents as agreed upon between them and their customers.

- If trading orders cannot be executed, trading members shall promptly notify their customers of the failure, clearly justifying the reasons therefor.

- After receiving notices on execution of transactions according to the above provisions, if detecting that those notices are incorrect or inappropriate, customers may lodge with trading members written complaints about the notified contents.

- In case of contract performance by the mode of goods delivery and receipt, trading members shall notify their customers of the following contents:

+ Trading form;

+ Goods for trading;

+ Time and date of transaction execution;

+ Number of sale or purchase contracts;

+ Trading price;

+ Total value of executed transactions;

+ Trading charge;

+ Other contents as agreed upon between them and their customers;

+ The name of the goods warehouse;

+ The name of the goods seller or purchaser;

+ The certification number of the warehouse;

+ Other contents as agreed upon by the parties.

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

Ty Na

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE