Seizing and looking for opportunities is always the top priority of investors in the business investment process. Therefore, we believe that knowing and understanding the provisions of BCC contracts will give investors a tool, helping investors sign business cooperation contracts, and minimize other procedures, making investing easier and more efficient.
- Basic information
BCC contract is explained and defined in the Investment Law 2014 as a contract signed between investors for business cooperation to divide profits and distribute products without establishing an economic organization.
Therefore, an individual investor or an economic organization can sign a BCC contract.
Under the provisions of the Law on Investment, a BCC contract can be signed between domestic investors, a domestic investor and a foreign investor, or between foreign investors.
Notes:
Foreign investors must apply for an Investment Registration Certificate before signing a BCC contract.
Besides, foreign investors can set up an operating office in Vietnam to perform the BCC contract in accordance with the law.
- Files
BCC contract includes the following contents:
– Names, addresses, and authorized representatives of the parties to the contract; the transaction address or the address where the project is implemented;
– Objectives and scale of business investment activities;
– Contribution of the parties to the contract and distribution of business investment results between the parties;
– Contract performance schedule and deadline;
– Rights and obligations of the parties to the contract;
– Modification, assignment, and termination of the contract;
– Liability for breach of contract, method of dispute resolution.
Notes:
– During the implementation of a BCC contract, the contracting parties may agree to use assets formed from business cooperation to establish an enterprise in accordance with the law on enterprises.
– Parties of a BCC contract have the right to agree on other contents that are not contrary to law.
To know more about this issue or other related legal matters, please contact hotline 024 6653 9546 to get more specific consultancy and further support.
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Dream Law LLC, Ltd.
Add: 401, No. 68, Phan Ke Binh road, Cong Vi ward, Ba Dinh district, Hanoi.
Hotline: 02466539546
Email: dreamlawllc@gmail.com
Website: https://dreamlaw.vn/
