What are Application Dossiers to Apply for Bank Guarantee?

According to Vietnam Law on Credit Institution, and Circular 07/2015/TT-NHNN on bank guarantee, bank guarantee refers to a type of credit whereby the guarantor undertakes to act on behalf of the obligor to fulfill their financial obligations to the obligee in the event the obligor fails to fulfill or insufficiently fulfill their agreed-upon obligations to the obligee; the obligor must take on their debt obligations and repay the guarantor. Bank...

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Should intellectual property be abolished?

I am assuming your intended question was directed at the legal protections over intellectual property rights (i.e. patents, copyrights, trademarks, trade secrets), and not the literal interpretation that we should stop creating and innovating. The “value to society of intellectual property as a legally protected right” is an opinion with many views. IP Services in Vietnam  My view is that it would reduce the...

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Labour matters in the EU-Vietnam Free Trade Area (EVFTA)

The International Labor Organization (ILO) is an international organization founded in 1919, after World War I and became the first specialized agency of the United Nations in 1946. The main purpose of the ILO is Promoting the rights of the employee in the workplace, promoting employment opportunities, enhancing social protection, and enhancing dialogue with people about work-related issues. Until now, the organization has 186 members worldwide...

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How to Determine Financial Security to Request for Arrest of Ship?

According to Article 132 of Vietnam Law on Maritime, to request for arrest of ships, it is required to provide financial security to ensure that there is a way to hold the requester responsible in case the request is wrongful.  Maritime lawyers in Vietnam The person requesting arrest of ships must provide financial security in either or both of the following forms: i) Submitting asset-backed security documents issued by banks or other...

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Cybersecurity law in Vietnam and data privacy issue

Vietnam’s cybersecurity law has been passed on 12/6/2018, will officially come into effect on Jan 1st, 2019. This new law attracts attention, and contributions from many people. From the state management’s perspective, Cybersecurity Law is to protect national security. From business and users’ perspective, organizations that provide Internet services, social networks service, IT services companies, Fintech services, ecommerce websites and...

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Trading Conditions on Medical Device in Viet Nam

Medical device includes device related to human health, therefore, the business of medical device in the conditional business line in accordance with the law of Vietnam. Medical device is defined as kinds of device, tools, materials for implanting activities, reagents and in vitro calibration solutions, software which are used separately or in association with each other according to the instruction of their owners for human use for the purpose...

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How exactly does registered trademark law works?

Intellectual property rights are territorial. American trademarks, patents and copyrights, therefore, do not confer protection on their owners in Europe if the IP owner has not registered their product with your nation’s patent office. The sole exception to this rule involves trademark applications filed under the Madrid Protocol. This system permits American business owners to submit trademark applications that protect their mark in the United...

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Foreign Investment in Education Sector in Vietnam

Foreign cooperation and investment in education are not new to Vietnam. There has been a number of schools and education institutions such as BVIS, Hanoi Academy, International School in Hanoi, Japanese International School, Vietnam-Australia School. Since Aug 1st, 1018, the decree 86/2018/ND-CP on international cooperation and investment in education in Vietnam will be effective, replacing Decree 72/2012/ ND-CP. According to Decree 86/2018/ND-CP,...

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What are Rights and Obligations of the Obligee?

The rights and obligations of the obligee are as following: Rights of the obligee: a) Request the guarantor, the guarantee-confirmation issuing party to fulfill guarantee obligations; b) Request the guarantor, the guarantee-confirmation issuing party to fulfill obligations and liabilities agreed upon in the guarantee commitment; BankingLawyer in Vietnam c) File a lawsuit in accordance with laws if the guarantor or the guarantee-confirmation...

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Is it necessary to register the trademark of my open source project?

Generally, a trademark is necessary for all companies and businesses. However, the registration of a trademark obviously is not a primary objective when a company starts operating. It is advisable to do so as soon as the company/project starts bringing sufficient profit. If you wish to save your right to a brand name it would be a rational decision. Registered trademark protection in Vietnam Why trademark? -You wish to be able...

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If you steal someone else business idea and start your own company, what is the worst thing that can happen?

 Well, to answer your questions, I’m going to say hypothetically that “you” stole something that was legally protected in some way (be it via patent, trademark, copyright, signing an NDA, or the likes). Can they successfully stop you from operating your business? Yes, they have options that could put “you” out of business. If you’ve violated their legally protected rights to certain items (their trademarked name, their copy-protected...

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What are Responsibility for Wrongful Request of Arrest of Ship?

According to Article 131 of Vietnam Maritime Law, the wrongful request of arrest of ship in Vietnam shall be subject to financial obligations. In particular: Maritime law firm in Vietnam The applicant for arrest of a ship must be held legally liable for his request. If the request for arrest of a ship is wrongful, which may lead to any loss, such applicant shall be responsible for compensating for any loss or damage possibly incurred. Any...

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What are Conditions to Meet for Trading civil cryptographic products and services?

According to Article 30 and 31, Law on Cyber Information Security, Civil cryptographic products and services are: 1. Civil cryptographic products include cryptographic documents and technical and professional equipment used to protect information not classified as state secret. Cyber security in Vietnam 2. Civil cryptographic services include services of protection of information using civil cryptographic products; inspection and assessment...

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What Must Be Included in the Bank Guarantee Letter?

The guarantee commitment must include the following contents: a) Applicable regulations; b) Serial numbers and guarantee commitment form; c) Information about parties in the guarantee relationship; Banking Lawyer in Vietnam d) Date of guarantee issuance, guarantee validity commencement and/or cases in which the guarantee validity begins; dd) Date of validity termination and/or cases in which the guarantee validity is terminated; e) Guarantee...

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What is Bank Guarantee Letter?

According to Vietnam Law on Credit Institution, and Circular 07/2015/TT-NHNN on bank guarantee, bank guarantee refers to a type of credit whereby the guarantor undertakes to act on behalf of the obligor to fulfill their financial obligations to the obligee in the event the obligor fails to fulfill or insufficiently fulfill their agreed-upon obligations to the obligee; the obligor must take on their debt obligations and repay the guarantor. Bank...

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How to Apply For Trading License in Civil Cryptographic Products and Services?

According to Article 32, Law on Cyber Information Security, the application of licenses for trading in civil cryptographic products and services need to follow the following: Cyber information law firm in Vietnam 1. An enterprise applying for a license for trading in civil cryptographic products and services shall submit a dossier of application for a license at the Government Cipher Committee. 2. A dossier of application for a license...

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