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Contract Liquidation: Minutes

Contract Liquidation: Minutes

What is an office lease contract liquidation record and why is it necessary to draft a liquidation record? That is the question of many businesses when they do not have much experience in renting offices. This article will answer in detail all your questions related to the minutes of the liquidation of office lease contracts.

What is contract liquidation?

What is contract liquidation?

Contract liquidation is a record recorded after completing a certain work, re-confirmed by the two parties on the volume, and quality, and arising after the completion of such work and mutually agreed upon by both parties. sign. Contract liquidation minutes take effect when legally signed by both parties.

Liquidation of economic contracts is a legal term mentioned in the previous Ordinance on Economic Contracts 1989. Since the 2005 Civil Code came out, the term “liquidation of economic contracts” is no longer mentioned or regulated. However, in reality, businesses, organizations, and individuals still often use the phrase “contract liquidation” in civil transactions and contract performance in order to terminate and release their rights. and obligations of the parties arising from the contract entered into.

Features of minutes of liquidation of office lease contracts

  • Contract liquidation is a meeting and dispute-free record, resolving conflicts and theoretical contract terms.
  • It is a written agreement signed by representatives of both parties.
  • Drafting and applying the charter according to the terms of the old contract, the signed official contract.

In which cases should the liquidation of an office lease contract be performed?

In which cases should the liquidation of an office lease contract be performed?

Not every business when signing an office lease contract also needs to use a contract liquidation record, but should only use it in the following common cases:

  • When the enterprise has not expired the office use term according to the original lease contract, but the lessee has no need to use this office anymore and notify the lessor in writing on time. regulations. If the leasing office building side agrees to terminate the contract ahead of time, the two parties will make a written record of liquidation of the office lease contract.
  • On the contrary, when the lessor wants to unilaterally terminate the contract ahead of time, then the same process will be carried out. And contract liquidation minutes are used to commit to fulfilling the responsibilities and interests of both parties.
  • When the two parties are about to end the previous office lease contract and have no intention of renewing the contract, the minutes of liquidation of the office lease contract will be made with the confirmation of the representatives of both parties.

Through the minutes of liquidation of the office lease contract, the lessor and the lessee can realize their rights and obligations to perform. At the same time, the two sides will also clearly define their responsibilities so that they can take the right actions to bring about a mutually beneficial consensus without any problems.

5 notes when liquidating office lease contracts

5 notes when liquidating office lease contracts

  • Before proceeding to make a record of the liquidation of the office lease contract, it is necessary to clearly define the purpose as “unilateral termination of the contract” or “the expiration of the contract liquidation”. If unilaterally terminating the office lease contract, the form “unilateral notice of office lease termination” will be used. If the office lease term expires, the form “notice of liquidation of office lease contract” will be used.
  • Provide sufficient basic and accurate information about the two parties involved in the liquidation of the contract.
  • In case of unilateral termination of the contract, it is necessary to clearly state the reason for the termination of the office lease contract.
  • The contract liquidation and termination notice should be notarized to ensure legality.
  • The minutes of liquidation of the office lease contract must be attached to the expired office lease contract form.

Sample letter of liquidation of the latest office lease contract 2023

Sample letter of liquidation of the latest office lease contract 2023

SOCIALIST REPUBLIC OF VIETNAM
Independence – Freedom – Happiness

HCMC, day….month….year

MINUTES OF CLEARANCE OF OFFICE LEASE CONTRACT

Pursuant to the 2015 Civil Code;
Office lease contract No.…….signed on…….month……………….;
Today, day…month…year….at…………………… we include the following parties to conduct the liquidation of the office lease contract at …………..

LEADER: (Referred to as Party A)
Grandparents:…………………………………………………………………….
Date of birth:…………………………………………………
Identity card/Citizen identity card:…………………… issued on……month……year……
Issued by:……………………………………………………………………
Permanent address:…………………………………………………….

TENDER: (Referred to as Party B)
Grandparents:……………………………………………………………………..
Date of birth…………………………………………………..
Identity card/Citizen identity card:…………………… issued on……month……year……
Issued by: ……………………………………………………………………..
Permanent address:……………………………………………………….

Office leasing contract between Party A and Party B signed on ……month…….. regarding office leasing at …… road…………. wards………. District/district…………..province/city has expired the lease term.
We now agree and mutually agree on the following in the minutes of the liquidation of the office lease contract:

Article 1. Both parties agree to terminate the office lease contract from …..month ..year ………….
Article 2. Party A confirms that it has received the office for lease back and that Party B has fully paid the office rent to Party A. All issues related to the office lease contract have been resolved by both parties.
Article 3. When there is a dispute related to the liquidation of the office lease contract, the parties will choose to settle it by way of the Court.
Article 4. From the date this liquidation contract is signed by both parties and certified by Notary Office No.…………., the office lease contract ………… is no longer valid.

The contract is made into….copy, each ……page, each party keeps 01 copy, Notary Office No.…………. save 01 copy.
Prepared at Notary Office No.…………..date…………..month………….…….

LEADER PARTY                                                                                           LEARNING PARTY

(Signature and full name)                                                                               (Signature and full name)

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You can read the previous article here: Renting in Vietnam: Regulations

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Q: What are the legal requirements for lease contracts in Vietnam?

Vietnam has specific legal requirements for lease contracts, such as registration with the local authority and the inclusion of certain clauses, including those related to rent adjustment, termination, and dispute resolution.

Q: What are the different types of lease contracts available in Vietnam?

There are several types of lease contracts available in Vietnam, including commercial office leasing, co-working space lease contracts, and business center lease contracts.

Q: What is an office lease contract?

An office lease contract is a legally binding agreement between a landlord and a tenant, which sets out the terms and conditions for renting office space.

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huyho

Professional Content Writter about the office space for lease, coworking, serviced office, retailed space.

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