THE LAW APPLICABLE TO INTERNATIONAL COMMERCIAL CONTRACTS UNDER THE CURRENT LAW OF VIETNAM

Abstract

While international commercial contracts have been strongly increased in parallel with their diversity and complexity, they are required to be duly regulated by the law, both national and international ones. As a source of law regulating international commercial contract relationships, the law of Vietnam regulates one of the most essential issues of those relationships which is the choice of law. The paper analyses the current legal provisions of Vietnam on principles of choice of law applicable to international commercial contracts in which it mainly compares the relevant provisions of the 2005 Civil Code and those of the related common international agreements. On that basis, the paper offers some assessments and proposals for improving the current law on limiting the right to choice of law of contracting parties as well as properly determining the most related law.