Best Practices for Drafting Commercial Contracts in Vietnam
As an investor in Vietnam, one learns quickly that the one of the cornerstone of successful risk management for business operations is a well-drafted commercial contract. The robustness of commercial contracts often reflects the resilience of a business against the complexities of the Vietnamese market. Here are insights into drafting commercial contracts to safeguard interests and navigate risks. Drafting Commercial Contracts in the Vietnamese Market The art of drafting commercial contracts in Vietnam requires an in-depth understanding of the local legal environment. The Vietnamese market, burgeoning with opportunities, also comes with its share of risks. Every draft commercial contract should be seen as a shield, tailored to protect against these risks. The first step is ensuring that every draft commercial contract adheres to Vietnamese laws and customs. This is pivotal because a contract that overlooks local regulations is like a ship without an anchor—it won’t stand up to legal sc...