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5 Principles of Compensation for Damage Under Civil Code 2015 in Vietnam

5-principles-of-compensation-for-damage-under-civil-code-2015

5 Principles of Compensation for Damage Under Civil Code 2015 in Vietnam

Principles of compensation for damage under civil code 2015 include five specific principles as follows:

The first principle of compensation for damage under civil code 2015 is that the actual damage shall be compensated in full and promptly. The civil code 2015 allows the involved parties in negotiation by themselves on the amount of compensation, the form of compensation and the method of compensation but the agreement is not contrary to the law and social ethics.

Secondly, a person who is responsible for compensation for damage, based on  principles of compensation for damage under civil code 2015 may be reduced if such person was not at fault or was unintentional and the damage is greater than the financial ability of such person. This principle shall be understood that in order to reduce the amount of compensation, the person who responsible for compensation for damage bears the burden of proof to satisfy two elements: (1) no fault or unitentional fault; and (2) the damage is too great compared to the actual ability.

Thirdly, if the amount of compensation determined becomes unrealistic, based on  principles of compensation for damage under civil code 2015 the aggrieved person or the person having caused damage has right to request the competent court or other competent state authority to change the amount of compensation. The level of compensation no longer consistent with the reality may be changed due to the changes in the economic, social situation, price volatility.

The fourth principle of compensation for damage under civil code 2015 is that if the aggrieved party is partly at fault in causing the damage, part of damage caused by himselve/herselve shall not be compensated. The person causing damage is only responsible for compensation for the damage equivalent to his/her degree of fault.

The final principle of compensation for damage under civil code 2015, the party having rights and interest violated shall not be compensated if such damage results from the failure to apply necessary and reasonable measures to prevent, mitigate the damage for himself/herself.

Above is an overview of the principles of compensation for damage under Civil Code 2015. If you have trouble with legal issues regarding the compensation for damage, please contact us: Phuoc & Partners is a professional consulting firm established in Vietnam and currently has nearly 100 members working in three offices in Ho Chi Minh City, Hanoi and Danang. Phuoc & Partners is also rated as one of the leading consulting firms specializing in business law in Vietnam that has leading practice areas in the legal market such as Labour and EmploymentTaxationMerger and acquisitionLitigation. We are confident in providing customers with optimal and effective service.

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5 Principles of Compensation for Damage Under Civil Code 2015 in Vietnam
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5 Principles of Compensation for Damage Under Civil Code 2015 in Vietnam
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Principles of compensation for damage under civil code 2015 include five specific principles as follows: The first principle of compensation for damage under
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Phuoc & Partners
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