The parties when concluding the contracts may specify the payment method and payment account number in the contract. In case there are changes in the account numbers in the contract, the parties need to have clear amendment agreements with each other. Let’s find out this issue with Lawyer X through the following situation: “Hello, Lawyer! What do I need to do to change the account number in the contract? Thanks for the reply Lawyer!”
Legal grounds
Civil Code 2015
Enterprise Law 2020
When to amend the contract?
The contract is an agreement between parties on the establishment, change or termination of civil rights and obligations. Some common contracts today are as follows:
Property purchase and sale contract is an agreement between parties whereby the seller transfers ownership of the property to the buyer and the buyer pays the seller.
Property lease contract is an agreement between parties whereby the lessor delivers the property to the lessee for use for a certain period of time, and the lessee must pay rent.
Cooperation contract is an agreement between individuals and legal entities on jointly contributing assets and efforts to perform certain jobs, sharing benefits and taking responsibility.
Information in the conclusion of the contract
Where one party has information affecting the other party’s acceptance to enter into a contract, it must notify the other party.
In case one party receives confidential information of the other party during the process of entering into a contract, it is responsible for keeping the information confidential and must not use such information for its own purposes or for other illegal purposes.
The party violating the provisions of Clauses 1 and 2, Article 387 of the 2015 Civil Code, and causing damage, must compensate.
Content contract
The parties to the contract have the right to agree on the content of the contract.
The contract may contain the following contents:
- Object of the contract;
- Quantity Quality;
- Price, payment method;
- Term, location and method of contract performance;
- Rights and obligations of the parties;
- Liability for breach of contract;
- Argument setllement.
The parties may agree to amend the contract
The contract may be amended according to the provisions of Article 420 of the Civil Code 2015
- Circumstances change fundamentally when the following conditions are fully satisfied:
- The change of circumstances due to objective causes occurs after the conclusion of the contract;
- At the time of entering into the contract, the parties cannot foresee the change of circumstances;
- Circumstances change so much that if the parties had known in advance, the contract would not have been concluded or was concluded with completely different contents;
- The continuation of contract performance without changing the contract contents will cause serious damage to one party;
- The party with affected interests has applied all necessary measures within its capacity, in accordance with the nature of the contract, but cannot prevent or minimize the degree of influence on the interests.
– In the event of a fundamental change in circumstances, the party with interests affected has the right to request the other party to renegotiate the contract within a reasonable period of time.
– Where the parties cannot agree on the modification of the contract within a reasonable time, one of the parties may request the Court:
- Termination of the contract at a definite time;
- Modify the contract to balance the legitimate rights and interests of the parties due to the fundamental change in circumstances.
The court may only decide to amend the contract in cases where the termination of the contract will cause more damage than the costs to perform the contract if it is amended.
In the course of negotiation, amendment and termination of the contract, the Court settles the case, the parties must continue to perform their obligations under the contract, unless otherwise agreed.
The revised contract must follow the form of the original contract
The validity of the contract in relation to the modification of the contract
A legally concluded contract takes effect from the time of signing, unless otherwise agreed or otherwise provided by relevant law. From the time the contract takes effect, the parties must perform their rights and obligations towards each other as committed. The contract can only be modified or canceled by agreement of the parties or according to the provisions of law.
Notice of change of account number in the contract
– When using the joint payment account of the enterprise, it must be done strictly according to the agreement in the contract of management and use of the account and following the following principles, specifically:
- All relevant information and notices related to the use of a joint payment account must be sent to all account holders unless otherwise agreed upon by the parties.
- The joint bank account holders have equal rights and obligations with respect to the joint payment account, the use of which must be agreed upon by all such account holders.
– With the registration and use of a bank account, the account holder can make payment, withdraw cash or request payment service providers via the account such as making payment orders, payment orders, collection requests, Bank card, money transfer, collection, …
– For the convenience of work, as well as transactions, businesses need to notify their new account numbers to their customers. The notice of change of bank account number may contain the following contents:
- The item to be sent should clearly state the name of the recipient.
- The instructions on the content of the notice should be written clearly and concisely, to guide the information that needs to be changed so that it is reasonable.
- The new bank account name and bank account number entries have been changed.
- Address, hotline number to handle errors or customer complaints if there are transaction problems on the new account number.
- The content of the bank account number and the old partner bank needs to be changed.
- Start time changes and use new account number to trade.
- The company’s board of directors signs and writes their full name after the final conclusion.
Related article:
- Drafting service of purchase and sale contracts in Vietnam
- Principles of commercial contracts in Vietnam
Frequently asked questions:
Circumstances change fundamentally when the following conditions are satisfied:
The change of circumstances due to objective causes occurs after the conclusion of the contract;
At the time of entering into the contract, the parties cannot foresee the change of circumstances;
Circumstances change so much that if the parties had known in advance, the contract would not have been concluded or was concluded with completely different contents;
The continuation of contract performance without changing the contract contents will cause serious damage to one party;
The party with affected interests has applied all necessary measures within its capacity, in accordance with the nature of the contract, but cannot prevent or minimize the degree of influence on the interests.
Where the parties cannot agree on the modification of the contract within a reasonable time, one of the parties may request the Court:
Termination of the contract at a definite time;
Modify the contract to balance the legitimate rights and interests of the parties due to a fundamental change in circumstances
Services of LawyerX
Prestigious professional services: Firstly, the team of consultants and consultants for many years in the field of civil status, and customer support.
On-time: Certainly, with the motto “Get your lawyer right at your fingertips”, we ensure the service always performs on time. The rights and interests of customers always come first.
Cost: Besides, Lawyer X’s service costs are highly competitive; depending on the nature of the particular case. So, we want our guests to have the best possible service experience. Therefore, costs which guaranteed to be the most suitable and economical for customers.
Confidentiality of client information: Finally, all brand information of client Lawyer X will be 100% confidential.
Please contact us immediately if you have any questions about “Change the account number in the contract in accordance with Vietnamese law”
Contact LSX Lawfirm
Finally, we hope this article is useful for you to answer the question about: “Change the account number in the contract in accordance with Vietnamese law”. If you need any further information, please contact LSX Law firm: +84846175333 or Email: [email protected]
Conclusion: So the above is Change the account number in the contract by Vietnamese law. Hopefully with this article can help you in life, please always follow and read our good articles on the website: lsxlawfirm.com
