What is the fine for violating regulations on petrol and oil sale contracts in Vietnam?

What is the fine for violating regulations on petrol and oil sale contracts in Vietnam? (Internet image)

Article 24 of Decree 99/2020/ND-CP stipulates penalties for violations against regulations on concluding petrol and oil sale contracts and petrol and oil retail franchise contracts in Vietnam as follows:

1. A fine ranging from VND 20,000,000 to VND 40,000,000 shall be imposed on a petrol and oil retail franchisee for any of the following violations:

- Concluding a contract to act as a petrol and oil retail franchisee with a number of wholesalers or petrol and oil distributors that exceeds the maximum permissible number as prescribed;

- Concluding a contract to act as an agent for a petrol and oil general agent or petrol and oil distributor wholesaler.

2. A fine ranging from VND 60,000,000 to VND 80,000,000 shall be imposed on a petrol and oil distributor for any of the following violations:

- Purchasing petrol and oil from a wholesaler or subsidiary authorized by the wholesale trader or another petrol and oil distributor without a petrol and oil sale contract as prescribed;

- Concluding a petrol and oil retail franchise contract with a petrol and oil retail franchisee that fails to satisfy all conditions as prescribed.

3. A fine ranging from VND 80,000,000 to VND 100,000,000 shall be imposed on a wholesaler for any of the following violations:

- Concluding a petrol and oil retail franchise contract with a petrol and oil retail franchisee in case such trader belongs to another wholesaler or distributor’s distribution system;

- Selling petrol and oil to a petrol and oil distributor that fails to satisfy all conditions as prescribed or without a petrol and oil sale contract as prescribed.

In addition to being fined, The violator is compelled to return the illegal profits obtained from the violations specified above

More details can be found in Decree 99/2020/ND-CP, which comes into force from October 11, 2020.

Le Vy

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