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ARTICLE · 21 DECEMBER 2023

Significant Aspects Of Vietnam's New Law On E-Transactions

Tilleke & Gibbins
Tilleke & Gibbins
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Tilleke & Gibbins

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Vietnam's new Law on Electronic Transactions No. 20/2023/QH15 (LOET 2023) was promulgated by the National Assembly on June 22, 2023, and will replace the existing Law on Electronic Transactions...

ThailandTechnology
Giang Thi Huong Tran
Giang Thi Huong Tran
Thomas Treutler
Thomas Treutler
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Vietnam's new Law on Electronic Transactions No. 20/2023/QH15 (LOET 2023) was promulgated by the National Assembly on June 22, 2023, and will replace the existing Law on Electronic Transactions No. 51/2005/QH11 (LOET 2005) when it enters into effect on July 1, 2024. The LOET 2023 is aimed at facilitating transactions carried out in an electronic environment in all sectors. Derived from the fundamental principles of the LOET 2005, the LOET 2023 is similarly considered a framework law, developed based on the Model Law on E-Commerce of the United Nations Commission on International Trade Law (UNCITRAL). The main points of interest of the LOET 2023 are summarized below.

1. Scope of Application

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