Model contract model on purchase of commercial apartments in Vietnam

 On February 20th, 2014, the Ministry of Construction of Vietnam issued Circular No.03/2014/TT-BXD amending Circular 16/2010/TT-BXD, in which stipulated that the purchase of commercial apartments must comply with commercial contract model on purchase of commercial apartment between investors and buyers.

Model contract on purchase of commercial apartments in Vietnam

 The housing transactions must be made in writing (hereafter called as the housing contract) contain the contents stipulated in Article 93 of Law on House, the Civil Code, Article 63 of Decree No.71/2010/ND-CP, the housing contract must comply with contract model and contents of housing contracts specified in the appendixes in connection with this Circular.

 For a sale contract of  the enterprise in the real estate business, the parties must be made in four copies, one kept by buyer, the remaining three kept by investors to make tax payment procedures, registration fees, the procedures for granting certificates of land use rights and ownership over houses and other assets attached to land (hereinafter referred to as the certificate) to buyers and filing; this housing purchase contracts will determine the legal rights and obligations of the buyers during the housing management, use of house bought, even in case where the buyer was granted ownership certificate by competent authorities.

 From 8th Aril 2014, the case of buying and selling commercial apartments between the investor and the customer does not comply with the content and contract model of purchase of commercial apartment stipulated by Circular 03/2014/TT-BXD, the signed contract is not recognized by law and can not be used as a basis for granting ownership certification.

 The investor is responsible for registration of the sale contract model of commercial apartment prescribed in Circular 03/2014/TT-BXD with the competent authority as prescribed by law for the protection of consumer rights.

 Model contract on purchase of commercial apartments in Vietnam (Download)

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