When Can the Buyer Suspends the Payment of the Goods Under International Sale Contract?
In the execution of sales of goods contract, there are cases in international trade that allow buyer suspend the payment of the value of the goods to the seller.
According to Article 51 Law on Commerce 2005, it is regulated that, unless otherwise agreed, the suspension of payment for goods is provided for as follows:
-The buyer that has proofs of deceit of the seller shall have the right to suspend the payment.
-The buyer that has proofs that the goods are subject to a dispute shall have the right to suspend the payment until the said dispute is settled.
-The buyer that has proofs that the seller has delivered goods which do not conform with the contract shall have the right to suspend the payment until the seller remedy such inconformity.
However, it is suggested that the buyer or the seller to consult with international trade lawyers in Vietnam for specific situations in potential contract dispute to avoid breaching the agreements.
How ANT Lawyers Could Help Your Business?
You could learn more about ANT Lawyers International Trade and Tax or contact our International trade dispute lawyers in Vietnam for advice via email ant@antlawyers.vn or call our office at (+84) 24 730 86 529
The Pilot Policy of Low-Orbit Satellite Internet in Vietnam Now, Vietnam has moved its position,…
Introduction to the Vietnam Fast-Track Investment Procedure In the highly competitive global race to attract…
With plans to pilot a Vietnam digital currency exchange, the government is signaling a shift…
Why is a Major Reform Necessary? Vietnam is entering a phase of economic and social…
Vietnam at the Threshold of the Digital Asset Era The 21st century has witnessed an…
Moving to Vietnam might be an interesting experience. But before you get too comfortable, there’s something…
This website uses cookies.
