Performance of Contracts upon the Fundamental Change of Circumstances in Vietnam’s Civil Code 2015

Abstract

While performance of contracts upon the fundamental change of circumstances is not a new matter in the laws of developed countries, it is newly regulated in the 2015 Civil Code of Vietnam. Only now, Vietnam has had guiding documents from competent state agencies on this matter, so the application in practice is still inconsistent, especially in determining what is the fundamental change of circumstances. Therefore, on the basis of clarifying the concept, legal status and practical application problems, the article will also make some recommendations for the contracting parties as well as the Court in handling the matter of performance of contracts upon the fundamental change of circumstances.