In Vietnam, businesses often require contracts for transactions with customers, vendors, investors, partners, and employees. Business contracts must be carefully prepared and reviewed to ensure proper implementation, protecting your business interests, minimize potential risks. They can also serve as evidence if something goes wrong.
Common mistakes in business contracts
Nova Law has reviewed many business contracts prepared by our clients, and we frequently encounter the following common errors:
- Unclear terms: Confusing or overly complicated language can lead to disputes over interpretation;
Inconsistencies: Internal conflicts can arise when the terms within a contract contradict each other, leading to disputes over confusion;
- Missing important terms: Contracts that are too short or lack essential terms can leave out critical details, leaving the contracting parties vulnerable and making implementation difficult;
Misapplication of law: Vietnam has its own set of business laws and regulations. Misapplying the law or relying on outdated regulations significantly increases the legal risk of non-compliance;
- Unfair: Contracts that are heavily designed to favor one side too much can create imbalance;
Format and Typo Errors: Even though these may seem like small issues, they can make the entire deal appear unprofessional and damage your business’s reputation, especially in large or important transactions.
Why do you need a local lawyer to review your contract?
Today, it’s easy to find contract templates online or use AI to draft agreements. However, without a Vietnamese legal expert, it’s difficult to verify if the contract fully complies with local laws. Vietnam’s legal system has its own set of rules and grey areas that may not be addressed by standard templates or AI-generated content.
If disputes arise or the government audits your business, a poorly drafted contract could work against you. For any deal involving large sums of money or significant risks, it’s essential to have a lawyer review your contract to ensure your deal is well-protected.
Tailored contract solutions from Nova Law
Nova Law has years of experience drafting and reviewing a wide range of contracts, including but not limited to:
- Sales Contracts
- Supply and Distribution Contracts
- Service Agreements
- Business Cooperation Contracts (BCC)
- Employment Contracts
- Commercial Agency Contracts
- Software Development Agreements
- IT Service Agreements
- Licensing Agreements
- Foreign Loan Agreements
- Non-Disclosure Agreements (NDA)
- Authorization Letters
- Partnership or Founder Agreements
Nova Law’s contract drafting approach
Each business transaction is unique, and so are the requirements of the parties involved. At Nova Law, we tailor our contract drafting to meet both the commercial objectives of the parties and the legal requirements under Vietnamese law.
We believe in keeping things simple. Instead of over-complicating contracts with overly legalistic language, we focus on clarity. We structure each business transaction like a story, with a clear beginning, plot, and conclusion. Our goal is to ensure that every party clearly and easily understands their rights and obligations, minimizing the risk of confusion or misinterpretation. Our legal experts combine logical precision with creative solutions to draft contracts that are professional, legally sound, and easy to implement.
Contact Nova Law for contract services
Nova Law works with businesses of all sizes. In today’s global business environment, you may deal with contracts from different countries. We can review these contracts to ensure they comply with Vietnamese law and help you manage risks in cross-border deals.
Our contract review service start at USD 200, and contract draft services start at USD 300, depending on the complexity of the contract.
At Nova Law, we are confident that our contract drafting and review services will add value to your business and protect your interests.
Contact us today to schedule a consultation.