Transfer of risks

Hi DMS Law office in Vietnam! In a sale transaction, the buyer has paid 100% for the goods, who is responsible for damage or loss while the goods is in transit, not yet delivered to the buyer ? Thank you!

Hi!

Transfer of risks

The seller shall bear all risks of the property until the property is delivered to the purchaser, the purchaser shall bear all risks of the property from the time of acceptance of the property, unless otherwise agreed or prescribed by law.

For a sale contract of a property where the law requires such property must be registered for ownership rights, the seller shall bear all risks until the time of completion of the registration procedures and the purchaser shall bear all risks from the time of completion of the registration procedures, unless otherwise agreed (Article 441 The Civil Code No. 91/2015/QH13 dated November 24, 2015).

Related topics:

Compensation for damage caused by breach of contract

Penalty for breach of contract

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Risk transfer