VIETNAMESE COMMERCIAL LAW - Chapter 5 Intermediary Commercial Activities - SECTION 3 SALE AND PURCHASE OF GOODS BY AUTHORIZED DEALERS








	
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CHAPTER 5 INTERMEDIARY COMMERCIAL ACTIVITIES
SECTION I REPRESENTATION OF BUSINESS ENTITIES
Article 141 Representation of business entities
Article 142 Contracts for representation of business entities
Article 143 Scope of representation
Article 144 Term of representation of business entities
Article 145 Obligations of representatives
Article 146 Obligations of represented entities
Article 147 Right to receive representative's remuneration
Article 148 Payment of expenses incurred
Article 149 Lien
SECTION 2 COMMERCIAL BROKERAGE
Article 150 Commercial brokerage
Article 151 Obligations of commercial brokers
Article 152 Obligations of principals
Article 153 Right to broker’s remuneration
Article 154 Payment of expenses incurred in relation to brokerage activities
SECTION 3 SALE AND PURCHASE OF GOODS BY AUTHORIZED DEALERS
Article 155 Sale and purchase of goods by authorized dealers
Article 156 Authorized dealers
Article 157 Principals
Article 158 Goods subject of authorization
Article 159 Authorization contracts9
Article 160 Authorization of third parties
Article 161 Receipt10 of authorization from multiple principals
Article 162 Rights of principals
Article 163 Obligations of principals
Article 164 Rights of authorized dealers
Article 165 Obligations of authorized dealers
SECTION 4 COMMERCIAL AGENCY
Article 166 Commercial agency
Article 167 Principals and agents
Article 168 Agency contracts
Article 169 Forms of agency
Article 170 Ownership rights in commercial agency
Article 171 Agent's remuneration
Article 172 Rights of principals
Article 173 Obligations of principals
Article 174 Rights of agents
Article 175 Obligations of agents
Article 176 Payments in cases of agency
Article 177 Term of agency

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SECTION 3 SALE AND PURCHASE OF GOODS BY AUTHORIZED DEALERS


Article 155 Sale and purchase of goods by authorized dealers

The sale and purchase of goods by authorized dealers means commercial activity whereby the authorized dealer carries out the sale and purchase of goods under its own name subject to terms agreed with the principal and is paid dealer's remuneration.


Article 156 Authorized dealers

An authorized sale and purchase dealer means a business entity dealing in goods which are consistent with the goods the subject of authorization and carrying out the sale and purchase of goods on terms agreed with the principal.


Article 157 Principals

A sale and purchase principal means either a business entity or someone who is not a business entity who authorizes an authorized dealer to conduct the sale and purchase of goods at the request of the principal and who must pay dealer's remuneration.


Article 158 Goods subject of authorization

All goods which are legally in circulation may be the subject matter of an authorized sale and purchase.


Article 159 Authorization contracts9

A contract for sale and purchase authorization must be in writing or in another form with equivalent legal validity.


Article 160 Authorization of third parties

An authorized dealer may not authorize a third party to perform the signed contract for sale and purchase authorization without the written consent of the principal.


Article 161 Receipt10 of authorization from multiple principals

An authorized dealer may conduct an authorized sale and purchase of goods on behalf of more than one principal.


Article 162 Rights of principals

Unless otherwise agreed, a principal shall have the following rights:

1. To require the authorized dealer to provide full information relating to the performance of the authorization contract.

2. Not to bear liability for breach of law by the authorized dealer except in the circumstances stipulated in article 163.4 of this Law.


Article 163 Obligations of principals

Unless otherwise agreed, a principal shall have the following obligations:

1. To provide necessary information, materials and facilities for the performance of the authorization contract.

2. To pay dealer's remuneration and other reasonable charges to the dealer.

3. To pay money and deliver goods strictly as agreed.

4. To be jointly liable when the authorized dealer breaches the law for any reason caused by the principal or when the parties intentionally act contrary to the law.


Article 164 Rights of authorized dealers

Unless otherwise agreed, an authorized dealer shall have the following rights:

1. To require the principal to provide necessary information and materials for the performance of the authorization contract.

2. To receive dealer's remuneration and other reasonable expenses.

3. Not to bear liability for goods which have been delivered to the principal correctly as agreed.


Article 165 Obligations of authorized dealers

Unless otherwise agreed, an authorized dealer shall have the following obligations:

1. To conduct the sale and purchase of goods as agreed.

2. To notify the principal of matters relating to the performance of the authorization contract.

3. To follow the instructions of the principal which are consistent with the agreement.

4. To preserve assets and materials assigned for the purpose of performance of the authorization contract.

5. To maintain the confidentiality of information relating to the performance of the authorization contract.

6. To pay money and deliver goods correctly as agreed.

7. To be jointly liable for a breach of law by the principal if the breach was caused partly by the fault of the authorized dealer.

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