This is reference to your emails from which, we understand that your company (hereinafter referred to as “Client”) would like us to issue a legal opinion on whether a Vietnamese Citizen is under the status of individual bankruptcy and whether he has the powers and authority to execute an Individual Guarantee in favor a foreign entity to obtain a loan or finance from your company.
The legal opinion shall be issued in light of applicable Vietnam Law. We therefore are grateful to present you our Legal Services Proposal for your review and consideration.
1. SCOPE OF WORKS
Following works are proposed based on the request of Client. However, depending on the specific position/situation of Client, several work items may not be necessary. Meanwhile, other works may be required. SB Law shall immediately advise Client the same upon review documents of the case.
However, any additional works shall not fall under the scope of this Legal Service Proposal Letter, but could be provided upon request.
(i) Preparing a legal opinion on whether the Vietnamese Citizen mentioned above can be subjected to individual bankruptcy under Vietnam Law;
(ii) Preparing a legal opinion whether the Vietnamese Citizen has the powers and authority to execute a Personal Guarantee in favor a foreign entity to obtain a loan or finance from your company as well as potential risk if Client accept such Personal Guarantee;
(iii) Answering queries from Client and/or assisting Client in answering queries in respect of legal issues and related matters contained in the prepared legal opinion (maximum 03 working hours after delivery of first drafted Legal Opinion).
For avoidance of any doubt, the scope of work shall strictly adhere to following specific assumption:
The legal opinion will be based essentially on results from searches of public records (if available) and documents provided by Client, and the relevant parties will cooperate to provide documents requested in full and in a timely manner;
The scope of investigation is limited to matters set out in Item (i) and (ii) above;
Communication will be in English, and will mostly be via email and telephone;
For litigation and insolvency searches, there is virtually no public record in Vietnam, nor are court dockets available. SB Law will conduct general searches on public sources (such as the internet, certain online databases of governmental agencies, if any), and the information may be limited;
The estimated fees presented below are, among others, based on our understanding of the structure of the transaction based on information known by us, and our experience in similar cases. However, each transaction is different, and the transaction referred to above may develop differently than the parties anticipated, the scope of work may be enlarged to cover aspects not initially covered, and so on. In such case, if our estimated fees are exceeded, SB Law will also be entitled to discuss with Client to revisit our fees.
2. PROFESSIONAL FEE
The Price for performing the SB Law services as mentioned in item 3 above will be 1,350USD (One thousand and three hundred and fifty US Dollar).
In case Client deplete 03 working hours after delivery of the first drafted legal opinion for further inquiry, further works conducted by SB Law shall subject to additional charge, i.e. 185USD/01 working hour.
The fee is exclusive of 10% VAT and actual expense for traveling out of Hanoi or Ho Chi Minh City.
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