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 is a 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.

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Intellectual Property and Trademark Registration Services in Vietnam

 

In Vietnam, many businesses today have not paid sufficient attention to trademark protection. Only when their trademarks would be infringed by other companies or competitors, they really concern to protect their trademarks and business through trademark registration, trademark opposition or take further actions. Such situation will negatively impact the business financially.

Trademark Registration services in Vietnam

Trademark rights will be protected within the national territory, therefore when a trademark has been registered in Vietnam, it will be protected in Vietnam. If one company wishes their trademarks to be protected in other countries, it could:

-Directly register in each country or

-Register via the Madrid International registration by filing a single application which indicates the registrations at respective countries.

If registered under the Madrid International, firstly, trademarks must have been submitted trademark applications or have registered in Vietnam, depending on whether the country for protection is under the Madrid Protocol or the Madrid Agreement.

Law on Intellectual Property and its related documents could also be referred to for further information.

ANT Lawyers’ services in the field of trademark registration advice covers:

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

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

-Evaluate the effectiveness of the certificate of trademark registration in Vietnam and the possibility of trademark rights violation;

-Implement of the protected trademark 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 trademark ownership in Vietnam and abroad;

-Advise on building strategies, brand development;

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

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Recordal of Trademark Assignment

 

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.

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

 

 

 

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How to Recognize Father or Mother for a Child in Vietnam

 

It is a legal requirement in Vietnam to register the recognition of father, mother of a child regardless the child’s parents are married or not. Such recognition shall be made on the newly issued birth certificate of the child.

 

Recognize Father for Child in Vietnam

The recognition of the father, mother protects the legal rights of all involved parties. For the family involving foreign elements i.e foreigners, expatriates living in Vietnam, the procedure for recognition of father, mothers of a child have to follow the laws of Vietnam, through various steps at Vietnam Authority including People’s Committee, Provincial Department of Justice and at Consular of foreign country where the mother or father of the child comes from.

The dossiers of application for recognition of fathers, mothers or children shall include the following papers:

-The application for recognition of father, mother of the child;

-The copies of the ID (for Vietnamese citizens staying in the country), or passports or substitute papers (for foreigners and Vietnamese citizens in foreign countries);

-The copies of the birth certificates of the persons to be recognized as child;

-Papers, documents or evidences (if any) to prove that there is a blood relationship between the father or mother and the child;

-The copy of the household registration book or collective resident certificate (for Vietnamese citizens permanently residing in the country);

-The permanent residence card (for foreigners permanently residing in Vietnam) of the persons to be recognized as father or mother.

Documents issued in foreign language shall need to be translated into Vietnamese, notarized or legalized to conform with legal document requirements of Vietnam authorities.

The time for processing dossiers at various authorities depend on the submitted documents and the time taken by the authorities to validate the case and could range between two weeks to two months.

The Vietnam authorities will need to study and examine dossiers of application for recognition of father, mother of the child. In cases where there is any doubts, complaints or denunciation about the recognition of father, mother of the child, or whether it is deemed that the personal identification of the involved parties or papers in the dossiers of application need to be clarified, the Provincial Department of Justice shall carry out the verification, including interviews with the involved parties or request for the additional proof.

Once the application is processed, verified and confirmed, the revised birth certificate of the child will be issued to reflect the changes which will show the name of the father or mother added.

We are a 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 services request, please contact us via email ant@antlawyers.vn, or call us +84 24 730 86 529.

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Dispute Law Firm in Da Nang

ANT Lawyers offers clients legal services from Da Nang office.

 

Dispute Law firm in Da Nang

The office is represented by lawyers whom are local of Hoi An covering Da Nang, Hoi An, Hue and other central provinces.

Dispute Lawyers in Da Nang focus on important business and legal issues related to real estate, foreign investment, setting up company and other business structures, M&A, contract and other corporate legal works.

Together with law offices in Hanoi and Ho Chi Minh City, the law office in Da Nang with coverage of Hoi An, Hue and other central provinces strengthens the nationwide coverage of ANT Lawyers, serving clients better in legal services in Vietnam.

Our dispute resolution practice at ANT Lawyers helps our clients with the following:

Negotiation: reviewing relevant contracts and documents, advising possible courses of action and negotiating with relevant parties before initiating the legal proceeding.

Litigation and legal representation: representing clients before Vietnamese courts and other Vietnamese authorities.

Arbitration: advising on choice of arbitration, drafting arbitration clause, and representing clients for recognition and enforcement of foreign arbitral awards.

Alternative proceedings: certain alternatives may be available for dispute resolution in Vietnam.

Please contact us to book your time in advanced to let us provide our best service.

ANT Lawyers is a 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

 

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Dispute Law Firm in Hanoi

ANT Lawyers, the dispute law firm in Hanoi is located in the business center that provides convenient access to our clients. 

 

Dispute lawyers in Hanoi

ANT Lawyers works with corporate and individual clients from across the sectors and offers a true spectrum of legal expertise, both contentious and non-contentious. The range of our experience enables us to advise on various matters from the precedent-setting to the purely procedural.

The common thread in everything we do is our ability to combine both commercial and legal perspectives.  This means our clients can rest assured that, whatever the case or transaction, our lawyers have the experience to deliver legal advice and service that works in a commercial context.

Our dispute resolution practice at ANT Lawyers helps our clients with the following:

Negotiation: reviewing relevant contracts and documents, advising possible courses of action and negotiating with relevant parties before initiating the legal proceeding.

Litigation and legal representation: representing clients before Vietnamese courts and other Vietnamese authorities.

Arbitration: advising on choice of arbitration, drafting arbitration clause, and representing clients for recognition and enforcement of foreign arbitral awards.

Alternative proceedings: certain alternatives may be available for dispute resolution in Vietnam.

Please contact us to book your time in advanced to let us provide our best service.

ANT Lawyers is a 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.

 

 

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Dispute Law firm in Ho Chi Minh City for legal service

ANT Lawyers, the Dispute Law firm in Ho Chi Minh City is located in the business center that provides convenient access to our clients.

 

ANT Lawyers works with corporate and individual clients from across the sectors and offers a true spectrum of legal expertise, both contentious and non-contentious. The range of our experience enables us to advise on various matters from the precedent-setting to the purely procedural.

The common thread in everything we do is our ability to combine both commercial and legal perspectives.  This means our clients can rest assured that, whatever the case or transaction, our lawyers have the experience to deliver legal advice and service that works in a commercial context.

Our dispute resolution practice at ANT Lawyers helps our clients with the following:

Negotiation: reviewing relevant contracts and documents, advising possible courses of action and negotiating with relevant parties before initiating the legal proceeding.

Litigation and legal representation: representing clients before Vietnamese courts and other Vietnamese authorities.

Arbitration: advising on choice of arbitration, drafting arbitration clause, and representing clients for recognition and enforcement of foreign arbitral awards.

Alternative proceedings: certain alternatives may be available for dispute resolution in Vietnam.

Please contact us to book your time in advanced to let us provide our best service.

ANT Lawyers is a 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.

 

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How Does Dispute Settlement Mechanism of WTO Work?

How Does Dispute Settlement Mechanism of WTO Work?

The dispute settlement mechanism of the World Trade Organization (WTO) is a succession of the dispute settlement rules that has been effective for nearly 50 years in the history of GATT 1947. The basic objective of this dispute resolution mechanism is to achieve a positive solution to the dispute. Vietnam is member of WTO therefore it could refer to dispute settlement mechanism of WTO in dispute against other country member.

 

When a dispute arises at the WTO, the parties will first conduct consultations to come up with a mutually agreed solution to resolve the case (Consultation – the stage of mediation), as  usual in each case there is the participation of third parties (who are members of significant interest and desire to participate in the dispute resolution process), if they feel a significant interest in the case and should be considered by the panel. In the case of an unsuccessful inquiry, a panel of 3 to 5 members will be established and tasked with examining a particular issue in dispute on the basis of WTO rules cited by the claimant’s country.

After the establishment of a panel to review the complaint, the first thing that the panel needs to do is to set a timetable for its proceedings (Article 12.3 of the DSU). The panel procedure usually covers the contents set forth in Article 12 and Annex 3 of the DSU, including certain flexibility to ensure the quality of the report without delaying the proceedings. Setting a timetable helps the parties understand the contents and deadlines for each dispute, helping them be more proactive in presenting evidence, bases and arguments in their submitted documents.

After the hearings take place, the panel will enter the internal discussion phase (deliberation), to review the assessment of relevant legal, practical issues in accordance with the provisions of the WTO, the deliberation must be kept secret. These reports were drafted without the presence of the parties to the dispute, but only according to the content of the information provided and the comments made earlier. Individual opinions of jurors presented in a panel report shall not include the names of speakers of such opinions.

After the final report will be sent to the parties to the dispute within 2 weeks after the panel has concluded the mid-term review. Normally, every report of the panel has very large content, to facilitate the study of review by the appellate body and to quote case law, the report must show the table of contents and paragraphs which are separate numbered in the order of the report. If there is no appeal, the dispute resolution process will immediately go to the implementation stage after the DSB adopts a panel report. If there is an appeal, the case will be reviewed at the Appellate level.

It is important for Vietnam as member of WTO to be aware of the dispute settlement mechanism and fully prepared when having dispute against other country members in international trade dispute matters.

 

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How do you get trademark registration?

What is Trademark?

The term ‘Trademark’ refers to the brand or logo which represents the business. It is a visual symbol of a signature, name, device, label, numerals or combination of colors used by the owner of the trademark for goods or services or any other articles of commerce. Moreover, it is meant to differentiate among the similar products or services originated from the different business. A trademark can be a word, wrapper, packaging labels or a tagline or a combination of these. For example Coca-Cola and Pepsi.

 

Who can apply for the Trademark?

Any Individual, Company, Proprietor or legal entity who can claim to be an owner of the Trademark can apply for it. The trademark Registration formalities can be done in 18 to 24 months after that you can start using the ‘TM’ symbol. Once your trademark registry is done and registration certificate is issued then you may use ® (registered symbol) next to your trademark. The validity of a registered trademark is for 10 years from the date of filing and that can be renewed from time to time.

What are the documents required for Trademark Registration?

Following are the documents which are required for the Trademark registration:

-Copy of Trademark or logo

-Applicant details like name, address, and nationality and for the company it requires the state of incorporation

-Goods or services to register

-Date of first use of the trademark in Vietnam

-Power of attorney which is to be signed by the applicant.

-What are the steps for registering Trademark in Vietnam?

Following are the steps through which you can register your Trademark:

-Select a trademark agent and authorize it.

-Select attorney to represent you.

-The trademark attorneys in Vietnam conducts a trademark search.

-It depends upon the results of the search whether the trademark attorney will be draft your trademark or not. Just in case, someone already has the same trademark then you can change yours.

-The trademark attorney will file your trademark application with the trademark office and send you the receipt.

-Within a few days, the trademark attorney will send you the Original Representation Sheet of your trademark as it has been filed with the trademark office.

-No matter what the place is, it takes anywhere around 18 months to 2 years for the Trademark Office to decide whether the trademark should be granted or not. In case, if there are any objections from anywhere then it may take longer.

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

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Why Investor Needs to Protect Trademark in Vietnam?

Trademark protection in Vietnam is initially obtained through trademark registration. Trademark opposition could be filed to prevent a pending application for a mark from being granted application. Litigation is the final measure to handle dispute during trademark protection in Vietnam.

 

Trademark is a sign that help distinguish the goods or services of one enterprise from those of others. Together with industrial design and patent, trademark of goods and services plays an extremely important role for the growth of the enterprise. Trademark establishes a link between enterprise and customer. A strong trademark will attract customers to use goods or services. When trademark is popular and economic benefits achieved through sale of goods or provision of services coupled with trademark is large, the violation of trademark is inevitable.

The annual reports of the Vietnam National Office of Intellectual Property (NOIP) prove that trademark violation in Vietnam is the most popular, among other industrial property rights. According to the preliminary annual report in 2011, and 2012, there has been more than 1,000 cases of trademark violations each year.  Report of 2013 and after shows more than 2,000 trademark infringements were handled with the total fines of trademark violators of around USD 1 million per year. Having said that, it is important for trademark owner to register trademarks in Vietnam for better protection. This is also suggested for even well-known trademarks.

For registration, trademark owner has two options: either directly register trademark in Vietnam by filling an application for registration with the Vietnam NOIP, or seek the trademark protection in Vietnam through Madrid’s system. For the first option, the trademark owner needs to prepare, file for registration, and pay fee as the requirement of Vietnam Intellectual Property law. In case trademark needs to be protected in a number of nations, including Vietnam, trademark owner may register trademark through Madrid’s system.

Where the violation of trademark occurs, trademark owner needs to judge the level of infringement, level of damage to choose suitable resolutions. Initially, the trademark owner may protect by requiring to the trademark violator to terminate the infringing acts, apologize, and rectify. In case of being damaged, trademark owners have rights to claim compensation. If failing to reach result, trademark owner may use settlement mechanism through negotiation or mediation or could request the competent state agencies to handle acts of infringement through i.e. filling a denunciation application and submitting to the Vietnam NOIP. Litigation might be required to handle acts of infringement. Generally, the proceeding of civil litigation is more complex than the arbitration proceeding. In cases the trademark owner needs a decision from court in order to end trademark infringement, civil litigation is top priority. In the remaining cases, arbitration is a better choice with advantages of cheaper cost, shorter settling time, and more flexible.

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

 

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