The right to enjoy brokerage remuneration

Article 153.- The right to enjoy brokerage remuneration

Set-up-company-in-vietnam-Vinasc21. Unless otherwise agreed, the right to enjoy brokerage remuneration arises from the time the principals enter into contracts.

2. Where there is no agreement, brokerage remuneration rates shall be determined according to the provisions of Article 86 of this Law.

Article 154.- Payment of expenses incurred in relation to brokerage

Unless otherwise agreed, principals must pay all reasonable expenses incurred in relation to brokerage to brokers, even where the brokerage does not bring about any results for principals.

SECTION 3. SALE AND PURCHASE OF GOODS BY MANDATED DEALERS

Article 155.- Purchase and sale of goods by mandated dealers

Purchase and sale of goods by mandated dealers mean commercial activities whereby the mandatory conducts the purchase and sale of goods in his/her/its own name under terms agreed upon with the mandator and is entitled to receive mandate commission.

Article 156.- Mandatories

A mandatory for purchase and sale of goods is a trader dealing in goods which are consistent with the mandated goods and conducting the purchase and sale of goods under terms agreed upon with the mandator.

Article 157.- Mandators

A mandator of purchase and sale of goods may, or may not, be a trader that authorizes a mandatory to conduct the purchase and sale of goods at his/her/its request and pays a commission.

Article 158.- Mandated goods

All goods which are lawfully circulated may become the subject matter of a mandated sale and purchase.

Article 159.- Mandate contracts

Mandate contracts for purchase and sale of goods must be made in writing or in other forms of equivalent legal validity.

Article 160.- Sub-mandate to a third party

A mandatory shall not be allowed to sub-mandate a third party to perform the signed mandate contract for purchase and sale of goods, except where it is so approved in writing by the mandator.

Article 161.- Multilateral mandate

Set-up-company-in-vietnam-Vinasc1A mandatory may accept the mandate for purchase and sale of goods from different mandators.

Article 162.- Rights of mandators

Unless otherwise agreed, mandators shall have the following rights:

1. To request mandatories to supply adequate information on the performance of mandate contracts;

2. Not to bear responsibility in cases where mandatories commit law violations, except for cases specified in Clause 4, Article 163 of this Law.

Article 163.- Obligations of mandators

Unless otherwise agreed, mandators shall have the following obligations:

1. To provide information, documents and means necessary for the performance of mandate contracts;

2. To pay mandate commissions and other reasonable expenses to mandatories;

3. To hand over money and goods as agreed upon;

4. To bear joint responsibility in cases where mandatories commit law violations which are attributable to acts of mandators or intentional law-breaking acts of the parties.