How to Determine Interest Rate for Late Payment Obligations in Commercial Transaction?

The most important obligation of the parties to a commercial contract is to deliver or provide services and pay in full and on time as agreed. However, in reality, there are times that one party or the parties fail to perform their payment obligations, causing damages to the other party. In particular, in the case of a breach of the payment obligation, the aggrieved party may request the person having caused damage to pay late payment obligations interest. Potential dispute on this matter might arise between parties.

 How to Determine Interest Rate for Late Payment Obligations in Commercial Transaction?

Article 306 of the Commercial Law 2005 provides for the application of the interest rate due to the delay of payment as follows: Where a contract-breaching party delays making payment for goods or payment of service charges and other reasonable fees, the aggrieved party may claim an interest on such delayed payment at the average interest rate applicable to overdue debts in the market at the time of payment for the delayed period, unless otherwise agreed or provided for by law.

The interest rate for late payment of obligations in commercial business is applied according to the average interest rate on overdue debts in the market at the time of payment corresponding to the late payment period, unless otherwise agreed or otherwise provided by law.

However, the Commercial Law 2005 at that time did not have a specific regulation on the average interest rate of overdue debts on the market. The Resolution No. 01/2019/NQ-HDTP has detailed instructions on this interest rate. When determining the interest on late payments, the Court shall determine the interest rate on late payments on the basis of average interest rates on overdue debts announced by at least 03 (three) commercial banks (such as Vietcombank, VietinBank, Agribank, etc.) whose headquarters, branch or transaction office is located in the same province or central-affiliated city where the headquarters of the Court in charge of the case is located at the payment date (the date of first-instance trial), except otherwise agreed upon by the parties or regulated by laws.

In case of late payment liabilities defined in a contract which includes the parties’ agreement on interest payment, the judgment debtor is liable to pay interest on the outstanding judgment debt at the agreed interest rate which must be conformable with applicable laws; if the agreed interest rate is not available, the Court shall decide application of the interest rate prescribed in Clause 2 Article 468 of the 2015 Civil Code. In case interests are charged on amounts payable to the state budget as regulated by laws, the judgment debtor is liable to pay an interest on the judgment debt arrears calculated at the interest rate prescribed in Article 357 or Article 468 of the 2015 Civil Code, unless otherwise prescribed by laws.

In order to protect the best interest of parties, it is important to consult with dispute lawyers in Vietnam for advice.

ANT Lawyers - English speaking law firm in Vietnam, recognized by Legal500, IFLR1000. We are an exclusive Vietnam member of Prea Legal, the global law firm network covering more than 150 jurisdictions. The firm provides a range of legal services to multinational and domestic clients.

Source ANTLawyers: https://antlawyers.vn/library/how-to-determine-interest-rate-for-late-payment-obligations-in-commercial-transaction.html

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End-user license agreement (EULA) in Vietnam

How Important is End-User License Agreement in Vietnam?

End-user license agreement (EULA) is a legal agreement enter between two parties which are software developer or provider and software user. Terms and Conditions could cover a large scope of matters, for example, payment schedule, privacy policy, providing service to third party, solving arisen disputes and even inclusive of EULA. Whilst, EULA almost focuses on agreement of giving the user using software right and includes the regulations related to grant of license, limitations or using period of the software.

Software Piracy Lawyers in Vietnam

Normally, after the user downloads the software and officially install it, an EULA would be shown out for user to understand its rights and obligations and agreed to. EULA may be called by different names which are License Agreement, Software license agreement, etc.

What is the nature of EULA?

This is a commitment which developer or provider create and user must abide by before installing the software. However, this does not mean from the time user agrees to EULA, user will be the owner of the software. The user only has the legal using right to that software. Some important matters to consider would be granting of license, limitation of granting of license, and IP.

Firstly, “Granting of License” is a prerequisite of this agreement when clearly state that user will be granted using software right. Secondly, the term “Limitation” is also a very important term of EULA as after installing, user may utilize the software in lots of purposes which are both legal and illegal and may affect the software developer/provider or any third party. Thus, this term particularly regulates the activities which users are not allowed to do while using the software. Thirdly, “Intellectual Property” is a pretty popular term in almost all type of agreements to protect the developer in copyrights. Besides, there are other terms such as “software update, maintenance and technical assistance, ability limitation, regulated law, etc.” and for each particular case and purpose of the owner, the agreement might also cover other appropriate terms.

End User License Agreement is a very important agreement attached to the software to guide the users and protect rights of the software developer or provider. Therefore, this agreement should be anticipating all cases as software owner wish to avoid disputes and even in the case of violation, the agreement will be the starting points to recover the damages to the developer and software owner.

ANT Lawyers – English Speaking law firm in Vietnam with international standard, local expertise and strong international network. We focus on customers’ needs and provide clients with a high quality legal advice and services. For advice or service request, please contact us via email ant@antlawyers.vn, or call us +84 24 730 86 529.

Source ANTLawyers: https://antlawyers.vn/library/how-important-is-end-user-license-agreement-in-vietnam.html

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The Benefit from Protecting Invention Patent

The Benefit from Protecting Invention Patent

Invention protection shall bring advantages for the owner of invention including the usage and application within the duration of 20 years. As Law on intellectual property of Vietnam, an invention patent shall be valid from the grant date until the end of twenty (20) years after the filing date.

Register invention in Vietnam

Besides, Invention patent can bring its owner the followings:

The steady position on the market: with the invention patent, the owner of the invention shall have rights to prevent others from using their invention with commercial purpose. This will reduce the competitive capacity of competitors and bring preferred position for the owner.

Right to sell and license the invention: in case owners of inventions cannot use their invention by themselves, they can sell or license the use of their inventions to other people or companies. They can license only the right of use and sell all of their inventions. This does not only bring them a lot benefits but also avoid risks because of the competition on the market.

When your inventions have been commercialized and got the significant position on the market, other companies or people might tend to copy and use your invention illegally or sell other products which are similar to yours. If your inventions were not properly registered at competent authority, the competitors and violators can use your inventions without breaching of law.

Therefore, it is essential to register a new invention to protect the owner’s rights to avoid unfair competition on the market.

If you are looking for experienced IP services in Vietnam to help you with your IP application, you should visit ANTLawyers. Our attorneys have experience with the IP process and will work closely with you as you apply for your IP.

Source ANTLawyers: https://antlawyers.vn/library/intellectual-property-law/the-benefit-from-protecting-invention-patent.html

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How to Distinguish between Deposit and Advance Payment?

In commercial transactions, it is very common for one party to give the other party an amount of money before the contract being performed. Should this amount be considered as deposit or advance payment?

How to Distinguish between Deposit and Advance Payment

 Deposit is one of security measures for the performance of contract obligations. According to regulation of Civil Code 2015, deposit is an act whereby one party (hereinafter referred to as the depositor) gives to other party (hereinafter referred to as the depositary) a sum of money or precious metals, gemstones or other valuable things (hereinafter referred to as the deposited property) for a period of time as security for the entering into or performance of a contract.

Upon a contract being entered into or performed, any deposited property shall be returned to the depositor, or deducted from the amount of payment obligation. If the depositor refuses to enter into or perform the contract, the deposited property shall belong to the depositary. In case the depositary refuses to enter into or perform the contract, the depositary must return the deposited property and pay an amount equivalent to the value of the deposited property to the depositor, unless otherwise agreed.

It can be seen that the purpose of deposit is to ensure the entering into or performance of a contract. Due to the fact that its nature is a security measure for the performance of contract obligations, sanction is set in regulation of deposit in case one party refuses to perform the agreement.

In practice, the advance payment can be understood that the obligor pays the obligee a sum of money in advance and this amount is regarded as in-advance performance of a payment obligation. As the nature of the advance is not a security measure for the performance of contract obligations, there is no fine rising from the advance if one party refuses to perform the agreement. Further, when a contracting party gives to the other party a sum of money, which is not clearly identified by the parties as a deposit or an advance, such amount shall be considered an advance payment.

It is important to distinguish the difference between deposit and advance payment to avoid potential disputes in performance the contract or consult with dispute resolution lawyers in Vietnam at early stage of the dispute for proper actions.

ANT Lawyers, as a reliable law firm in Vietnam, we focus on providing possible solutions that best meet the needs of legal and business clients. We help customers achieve their goals while protecting their interests, minimizing risks, and complying with the law.

Source ANTLawyers: https://antlawyers.vn/library/how-to-distinguish-between-deposit-and-advance-payment.html

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Contract Preparation in Vietnam

In Vietnam, certain type of contracts has to follow forms requested by laws as such client is recommended to seek help from professional contract dispute lawyers in Vietnam to help draft or review.

Contract negotiation law firm in Vietnam

Contract is an agreement enforced by law. In Vietnam, contract is a civil transaction which parties enter into voluntarily, each of whom intends to create, change, or terminate one or more rights or obligations between them according to Vietnam Civil Code. Contract plays an important roles in business transaction. Written contract provide individuals and businesses a legal document reflecting agreement, expectation and mechanism to resolve potential disagreement or disputes.

The English speaking lawyers in Vietnam drafting or reviewing contracts under Vietnam laws will need to initially review the legal resources in relevant to the transactions, research related documents and the parties involved to provide legal opinions, make suggestions and propose an optimal solution to the client for negotiation and contract finalization.

Basic terms and conditions of the contracts being rights and obligations of parties to the contracts, and other terms in regard to duration, quality, payment, dispute handling procedures, applicable law and/or jurisdiction, confidentiality, force majeure, intellectual property clauses…among others have to be carefully taken into considerations.

Further, a contract should ensure the following points to be covered:

-Use right legal terms or terminology;

-Foresee the future scenarios;

-Describe the specific matters;

-Clearly mention obligations;

-Obtain a balance between parties involved.

There are specific contracts in Vietnam for various transactions being:

-Joint venture contract;

-Share purchase contract;

-Sales contract;

-Business cooperation contract;

-Licensing contract;

-Investment contract;

-Labour contract;

-Lease contract;

-Distribution contract;

-Construction contract;

-Prenuptial agreement. 

Each business transaction is different as such a contract is not a compilation of standard terms and conditions. Professional contract dispute lawyers in Vietnam would consider the purpose of the contract, transaction type, significance of the deal, industry, Vietnam legal requirements and expectation of the client to prepare a legally enforceable contract for the client, to avoid misunderstanding and protect the client against legal disputes.

ANT Lawyers – A reliable law firm in Vietnam with international standard, local expertise and strong international network. We focus on customers’ needs and provide clients with a high quality legal advice and services. For advice or service request, please contact us via email ant@antlawyers.vn, or call us +84 24 730 86 529.

Source ANTLawyers: https://antlawyers.vn/library/contract-preparation.html 

Source: ANT Lawyers.vn

 

 

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Second Review Of Application Of Anti-Dumping Measures Of Some Aluminum Products from China

On June 10, 2022, the Ministry of Industry and Trade issued Decision No. 1149/QD-BCT on the second review of the application of anti-dumping measures for a number of aluminum products originating from the People’s Republic of China (case code AR02.AR05).

Anti-dumping law firm in Vietnam

The above decision requires a review of the application of anti-dumping measures to certain aluminum, alloy or non-alloy products, in the form of bars, rods and shapes, extruded, whether or not treated surface treatment, whether or not further processed, imported into Vietnam and classified under HS code: 7604.10.10; 7604.10.90, 7604.21.90, 7604.29.10, 7604.29.90.

To ensure the interests of all organizations and individuals involved in the case, the Trade Remedies Authority of Vietnam recommends that relevant organizations and individuals do the followings: register as a related party in the review case to access publicly circulated information during the review process; submit comments, information and evidences related to the content of the review; cooperate with the investigating agency in the investigation and review process.

The conduct of procedures related to the review process must not interfere with the application of anti-dumping measures in force.

If Client needs any more information or request for legal advice or potential dispute regarding trade remedies measures including, anti-dumping, countervailing duty and safeguard measures or international trade dispute matters, our international trade lawyers, countervailing duty lawyers in Vietnam and antitrust lawyers in Vietnam at ANT Lawyers could be of help.

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Cancellation Against of Trademark in Vietnam

Trademark is the priceless asset with your company because of being used to distinguish goods or services of different organizations or individuals.

It usually takes a long time and attempts for your company to gain the trust and belief from customers on your goods and trademark. However, if there is any other same trademark of the same goods like yours, it will easily make customer mistake or confuse and lead many damages to your company such as distinguishing capacity, losing reputation and sale decline.

 

Cancellation Against of Trademark in Vietnam

In fact, many international companies after co-operating with domestic companies to distribute or sell good, find that co-operators steal their trademark by registered trademark protection in National offices intellectual property. Because trademark is protected independently in each nation, it is easy for violators to do steal trademarks.

To protect your rights and benefits, you should request Vietnam IP authority to cancel violated trademark. With highly professional staff and great experience in IP aspect in Vietnam, ANT Lawyers would like to support you in cancelling against of trademark in Vietnam as follows:

Cancellation against of trademark in Vietnam

Under the Article 96 of the Law on Intellectual Property of Vietnam (IP Law), a certificate of trademark registration may be cancelled wholly or partly, by any third party’s request.

The applicant may request to the National Office of Intellectual Property (NOIP) in written form to cancel protection titles in the cases specified provided that they pay fees and charges.

Period for filling cancellation request

To request cancellation of a trademark due to the Applicant’s bad faith: the period for lodging such a request is the whole term of a Protection Title.

To request cancellation of a trademark due to other legal reasons: the period for lodging such a request is within 5 years as from the granting date.

The case for cancellation

A certificate of trademark registration may be cancelled wholly or partly, by any third party’s request, in the following cases:

The registration applicant has neither had nor been assigned the right to register an invention, industrial design, layout-design or mark;

The subject matter of industrial property fails to satisfy the protection conditions at the time the protection title is granted.

Required documents

Proofs (if any);

Power of attorney;

Written justification of the reason for request (clearly stating the serial number of the protection title, reason, legal grounds, contents of the request for termination or Cancellation of part of or the entire protection title) and relevant documents.

Time and procedures

In case a request for cancellation of trademark protection title is made by a third party, the NOIP shall notify in writing the third party’s opinions to the protection title holder, setting a time limit of two months from the date of notification for the trademark protection title holder to respond.

After considering opinions of the parties, the NOIP shall issue a decision on cancellation of part of the entire protection title or notify its refusal to cancellation the trademark protection title.

If disagreeing with the NOIP’s decision on handling of the request for Cancellation of the trademark protection title, the requester or an involved party may lodge a complaint about that decision or the relevant notice.

A decision on cancellation of a trademark protection title shall be published in the Industrial Property Official Gazette and recorded in the National Register of Industrial Property within two months from the date of its signing.

ANT Lawyers – IP services in Vietnam is supported by a team of experienced patent, trademark, design attorneys with qualification and skills handling full range of legal services relating to intellectual property rights in Vietnam. We have specialized in the preparation and registration of patents, trademarks and designs for our clients.

Source ANTLawyers: https://antlawyers.vn/library/cancellation-against-of-trademark-in-vietnam.html

 

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Copyright Law Firm in Vietnam

 

Copyright is violated on a regular basis in the music, publishing and software industries. We are a copyright consultant in Vietnam with lawyers with qualification and experience to assist client from application, protection, and dispute handling process.

Copyright in Vietnam

ANT Lawyers IP practice offers client in protecting and enforcing copyrights and similar intellectual property rights as following:

-Advise legal matters of copyright and related rights in Vietnam and abroad;

-Conduct searches and provide information on copyright and related rights, advice measures to protect copyright and related rights in Vietnam and abroad;

-Complete the applications and file to register copyright and related rights;

-Enforce the copyright and related rights, including investigation, supervision, negotiation, mediation, lawsuit initiation to handle infringement in Vietnam and oversea.

With highly professional staff and great experience in Copyright and Related right aspect in Vietnam and other countries in the world, ANT Lawyers - Copyright Law Firm in Vietnam would like to support and represent the clients in protecting copyright and related right.

Source ANTLawyers: https://antlawyers.vn/area-of-expertise/intellectual-property/copyright-and-related-rights

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Industrial Design Consultant in Vietnam

Before a new design is launched, or sold in a new country, client company needs to ensure the Intellectual Property protection of industrial design.

Industrial Design Consultant in Vietnam

We are an industrial design consultant in Vietnam with lawyers with qualification and experience to assist client from application, protection, and dispute handling process.

ANT Lawyers IP Practice offers industrial design services as following:

-Look-up, assess and consult possibilities to register industrial design in Vietnam and abroad;

-Represent clients in applying for certificates of industrial design, record modification, extend degree of industrial protection in Vietnam and abroad;

-Evaluate the effectiveness of the certificate of industrial design registration and the possibility of industrial design rights violation;

-Implement of the protected industrial design rights: investigate, monitor, negotiate, seek arbitration or initiate a lawsuit or request other competent agencies for handling of infringement in Vietnam and abroad;

-Negotiate, draft, evaluate and register the of changing industrial design ownership in Vietnam and abroad;

-Advise on building strategies, brand development;

ANT Lawyers offers industrial design services to protect intellectual assets through advising, searching, filing design by industrial design attorney in Vietnam.

Source ANTLawyers: https://antlawyers.vn/area-of-expertise/intellectual-property/industrial-design

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Industrial Design Registration in Vietnam

Industrial design is the appearance of the product which is expressed through shapes, lines, colors or combinations of these factors.

Industrial Design Consultant in Vietnam

A product as being commercially marketed will have a certain style with a combination of certain shapes, lines, colors, etc.. which is the design of the product. When a new design to be launched, if it attracts customers, there is a big chance there will be fake or imitated products. Therefore, before a new design is launched, business owners need to conduct registration procedures for protection of industrial designs. That is the action for the protection of its product design and the prestige of the enterprise in the market. This protection will prevent the infringement of the design, therefore the registration of industrial design protection is essential.

ANT Lawyers IP services in the field of industrial design registration advice covers:

-Look-up, assess and consult possibilities to register industrial design in Vietnam and abroad;

-Represent clients in applying for certificates of industrial design, record modification, extend degree of industrial protection in Vietnam and abroad;

-Evaluate the effectiveness of the certificate of industrial design registration and the possibility of industrial design rights violation;

-Implement of the protected industrial design rights: investigate, monitor, negotiate, seek arbitration or initiate a lawsuit or request other competent agencies for handling of infringement in Vietnam and abroad;

-Negotiate, draft, evaluate and register the of changing industrial design ownership in Vietnam and abroad;

-Advise on building strategies, brand development; For advice and specific details in each case, please contact us directly for advice.

If you are looking for an experienced Industrial design consultant in Vietnam to help you with your Industrial design matters, you should visit ANT Lawyers. Our attorneys have experience with the IP process and will work closely with you as you apply for your IP.

Source ANTLawyers: https://antlawyers.vn/legal-service/industrial-design-registration-in-vietnam.html

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What Type of Works Are Protected by Copyright in Vietnam?

According to Article 14 of Vietnam Intellectual Property Law (Vietnam IP Law), literary, artistic and scientific works which are protected by copyright comprise:

Registering Copyright Services in Vietnam

Literary works, scientific works, textbooks, teaching courses and other works expressed in written language or other characters;

Lectures, addresses and other speeches;

Press works;

Musical works;

Stage works;

Cinematographic works and works created by a process analogous to cinematography (cinematographic works);

Plastic art works and applied art works;

Photographic works;

Architectural works;

Sketches, plans, maps and drawings related to topography or scientific works;

Folklore and folk art works;

Computer programs and data collections.

ANT Lawyers - copyright consultant in Vietnam with lawyers with qualification and experience to assist client from application, protection, and dispute handling process.

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Recordal of Trademark Assignment in Vietnam

 

Recordal of Trademark Assignment in Vietnam

Assignment of a trademark right means the transfer of ownership right by owner of such trademark right to another organization or individual.

Trademark Assignment in Vietnam be established in the form of written agreement. Oral agreements, letters or telegrams shall not be accepted and have no legal effect.

 

Recordal of Trademark Assignment in Vietnam

Required documents

You are required to provide us the following documents:

-One executed original of Deed of Assignment, which must be signed and sealed by both Assignor and Assignee. Since the Deed of Assignment has two pages, both Assignor and Assignee should sign on each page or use company stamp to inter-cross seal over all pages (NO      further notarization or legalization is required);

-A Power of Attorney (POA) that should only be signed by the Representative of Assignee; 

-The relevant original Certificate of Trademark Registration (if recording the assignment for a registered one).

Procedures and time

After the recordal of assignment is completed, the NOIP will issue the following documents:

-The Notice of Assignment Recordal in case of a pending Trademark Application.

-The Certificate for Registration of Deed of Assignment in case of Trademark Registration in Vietnam.

In addition, the name and address of new owner will be endorsed on the last page of this Certificate of Trademark Registration.

The whole duration for recordal of assignment in Vietnam will in straightforward case is 2 months counted from the filing date. However, in practice, this duration can be extended from 3-6 months.

Other matters

Under Vietnam Intellectual Property Law, the trademark assignment will not be approved in the following cases:

-The subject mark for assignment identical/confusingly similar to the trade name of assignor as it shall cause the confusion as to the origin of goods or services with those of assignor. 

-The subject mark for assignment similar or identical to other trademarks but not for assignment of Assignor in respect of similar goods or services as it shall cause the confusion as to the origin of goods or services with the rest of assignor.

ANT Lawyers - IP services in Vietnam located in the business centers of Hanoi, Danang, Ho Chi Minh city. We provide convenient access to our clients. Please contact our lawyers in Vietnam for Trademark registration services in Vietnam via email ant@antlawyers.vn or call our office at +84 28 730 86 529.

Source ANTLawyers: https://antlawyers.vn/library/recordal-of-trademark-assignment-in-vietnam.html

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