Rights and obligations of lessors

Article 270.- Rights and obligations of lessors

Set-up-company-in-vietnam-Vinasc2Unless otherwise agreed, lessors shall have the following rights and obligations:

1. To deliver leased goods to lessees as agreed upon in lease contracts;

2. To ensure that the right of lessees to possess and use leased goods is not disputed by a concerned third party in the lease duration;

3. To ensure that leased goods are suitable to the use purposes of lessees as agreed upon by the parties;

4. To maintain and repair leased goods within a reasonable duration. Where the maintenance and repair of leased goods cause harms to the use of such goods by lessees, lessors shall have to reduce rent rates or prolong lease duration corresponding to the time of maintenance and repair;

5. To receive rentals according to agreements or provisions of law;

6. To take back leased goods upon the expiration of the lease duration.

Article 271.- Rights and obligations of lessees

Unless otherwise agreed, lessees shall have the following rights and obligations:

1. To possess and use leased goods according to lease contracts and the provisions of law. Where there is no specific agreement on the manner in which leased goods should be used, such leased goods shall be used in a manner appropriate to their nature;

Set-up-company-in-vietnam-Vinasc12. To maintain and preserve leased goods in the lease duration and return such goods to lessors upon the expiration of the lease duration;

3. To request lessors to perform the maintenance and repair of goods. If lessors fail to perform such obligation within a reasonable period of time, lessees may perform the maintenance and repair of leased goods and lessors shall bear all reasonable expenses for such maintenance and repair;

4. To pay rentals as agreed or according to the provisions of law;

5. Not to sell or sub-lease the leased goods.

Article 272.- Repair or alteration of original status of leased goods

1. Lessees must not repair or alter the original status of leased goods if not so consented by lessors.

2. Where lessees perform the repair or alter the original status of the leased goods without lessors’ consents, lessors shall have the right to request lessees to restore the original status of the leased goods or claim damages.

Article 273.- Liability for loss occurring in the lease duration

1. Unless otherwise agreed, lessors shall bear loss of leased goods occurring in the lease duration if lessees are not at fault in causing such loss.

2. In cases mentioned in Clause 1 of this Article, lessors shall have to repair leased goods within a reasonable duration to ensure the achievement of use purposes of lessees