Regulations you need to know regarding notarization of ready-made contracts and transactions in Vietnam

Regulations you need to know regarding notarization of ready-made contracts and transactions in Vietnam (Internet image) 

1. Regulations you need to know regarding notarization of ready-made contracts and transactions in Vietnam

Regulations you need to know regarding notarization of ready-made contracts and transactions in Vietnam according to Article 40 of the Law on notarization 2014 are as follows:

- A notarization request dossier shall be made in one set, comprising:

= A notarization request containing information on full name and address of the notarization requester, contents to be notarized and list of enclosed papers; name of the notarial practice organization, full name of the dossier recipient, and time of dossier receipt;

= The draft contract or transaction;

= A copy of the personal identity paper of the notarization requester;

= A copy of the ownership certificate or use right certificate or its substitute paper as permitted by law for assets subject to ownership or use right registration under law, in case the contract or transaction is related to those assets;

= Copies of other papers related to the contract or transaction as required by law.

- The copies specified in Clause 1 of Article 40 of the Law on notarization 2014 may be photocopied, printed or typewritten copies containing full and accurate contents as the originals and do not need to be certified.

- A notary shall check the papers in a notarization request dossier. When the dossier is complete and valid as prescribed by law, he/she shall accept it and record it in the notarial register.

- Notaries shall guide notarization requesters to comply with regulations on notarization procedures and relevant regulations on performance of contracts and transactions; clearly explain to notarization requesters their rights, obligations and lawful interests as well as the significance and legal consequences of their entry into contracts or transactions.

- When having grounds to believe that a notarization request dossier contains unclear matters, the contract or transaction was concluded under threat or coercion, or having doubts about the civil act capacity of the notarization requester, or the object of the contract or transaction has not yet been specifically described, a notary may request the notarization requester to clarify the matters or, at the request of the notarization requester, conduct verification or request assessment; if the matters cannot be clarified, the notary has the right to refuse to notarize.

- A notary shall check the draft contract or transaction; if the draft contains some articles and clauses contrary to law or social ethics or the object of the contract or transaction is incompliant with law, he/she shall point them out for the notarization requester to modify. If the notarization requester fails to modify, the notary has the right to refuse to notarize.

- The notarization requester shall himself/herself read again the draft contract or transaction or request the notary to read it.

- If agreeing with the whole contents of the draft contract or transaction, the notarization requester shall sign every page of the draft. The notary shall request the notarization requester to produce the originals of the papers specified in Clause 1 of Article 40 of the Law on notarization 2014 for comparison before writing testimonies and signing every page of the contract or transaction.

2. Notarization time limit in Vietnam

The notarization time limit in Vietnam according to Article 43 of the Law on notarization 2014 is as follows:

- The notarization time limit shall be counted from the date of acceptance of a notarization request dossier to the time of issuance of notarization results. The time of verification and assessment of contents related to contracts or transactions and posting of information on the acceptance for notarization of written agreements on division of estate, written declarations for acceptance of estate or translations of papers and documents shall not be included in the notarization time limit.

- The notarization time limit is two working days; for complicated contracts or transactions, this time limit may be longer but must not exceed 10 working days.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE