In international commerce, construction, and financing transactions, guarantees play a critical role in managing risk and securing performance. Two commonly used forms are the on-demand guarantee and the conditional guarantee. While both serve to assure one party that the other will fulfill their obligations—or face financial consequences—their legal nature, enforceability, and risk allocation differ significantly. […]
1. Legal Framework and Permissibility The use of sidewalks (vỉa hè) for private or commercial purposes in Vietnam—such as placing tables, parking, or vending—has long been a practical solution in crowded urban areas. However, under Vietnamese law, sidewalks are considered public infrastructure. The Land Law 2013 (Article 5) and Law on Road Traffic 2008 (Article […]
1. Legal Recognition of Liquidated Damages in Vietnamese Law Liquidated damages refer to a sum of money that contracting parties agree to in advance, which one party must pay if they breach the contract. This concept, common in common law jurisdictions, is also recognized in Vietnam’s civil and commercial legal framework, albeit with certain limitations. […]