LIFE INSURANCE MUST REGISTER THE CONTRACT FORMS

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This requirement is prescribed in the Decision No. 35/2015/QD-TTg dated August 20, 2015 of the Prime Minister on amending a number of articles of the Decision No. 02/2012/QD-TTg on promulgation of essential goods and services for which contract forms and general transaction conditions must be registered.

In particular, beside life insurance, terrestrial mobile information services (form of payment: prepay service) and issue of inland debit cards, open and use payment account service (applicable to individual customers), individual borrow service (for consumption purpose) is add to the List of essential goods and services for which contract forms and general transaction conditions from October 15, 2015.

Apart from above services, this Decision also adjusts some other services in this List. In particular, “Supply of clean water for residential consumption” is changed into “Supply of tap water”, “Fixed telephone subscription” is changed into “Terrestrial fixed telephone services”, “Postpaid mobile phone subscription” is changed into “Terrestrial mobile information services (form of payment: postpaid service)” and “Internet connection” is changed into “Internet access services”.

At the same time, within 90 days from the day on which this Decision takes effect, any organizations/individuals applying contract forms and/or general transaction conditions to goods and services shall register according to laws on secure of rights of consumers.