1. Permitted & Prohibited: Pursuant to this Agreement, User is assignated for the usage of the information provided by Vietnam Creditrating., JSC (Vietnamcredit) solely for reference in making business decisions. The User is prohibited to use provided information to engage in any unfair or deceptive practices.
2. Ownership of Information: The User agrees that VietnamCredit has sole ownership, copyright and all other rights in the Products / Services provided. VietnamCredit has the exclusive right and control over the use, arrangment and disposition of information in the reports.
3. Use of Information: The Information furnished by VietnamCredit is for the User’s internal usage. VietnamCredit provides information for decisions related to credit granting, investment, Insurance, Marketing or Business Cooperation and evaluation of creditworthiness of business suitable to Vietnam and International law.
4. Information Confidenditality: The information furnished hereunder shall be kept in strict confidence. The User is not allowed to reproduce, copy, reveal or make accessible in whole or in part, in any manner whatsoever, to the Third Party or any others without the written agreement of VietnamCredit. It means that the User shall neither request information for the use of others, nor permit requests to be made under this Agreement by others.
5. The recognition of risk limit: The User acknowledges that VietnamCredit does not bear the cost or warranty of any kind for the problem, including but not limited to the accuracy, adequacy, convertibility or suitability to the particular purpose of use of the reports. The User also acknowledges that every business decision, to some degree or another, represents the assumption of a risk and that VietnamCredit, does not bear or assume the User’s risk, in any manner whatsoever.
6. The recognition for the third party: The User acknowledges that that VietnamCredit is not responsible for any damage or loss suffered by the User or any Third party arising out of or caused, in whole or in part, by the acts or omissions of VietnamCredit in procuring, compiling, collecting, interpreting, reporting, communicating or delivering the information with or without prior notice of the possibility of a risk and damage caused by the use of reports.
7. The responsibility to the risk: The User acknowledges that there might be risks involved in accepting and using the reports, and that credit insurance may be used in the event that the User is unwilling to accept such risks and that is the User’s internal affairs. VietnamCredit is not liable for cost of procurement of substitute products, services, or information, losses, or direct or indirect damages arising from the User's use of the reports.
8. Limitation on liability: The User agrees that VietnamCredit is not liable to any damages, losses or injuries of the User or any Third party. In case of the an aggregated liability is imposed, The User agrees that the total liability of VietnamCredit never exceeds the amount paid by the User for the services done or furnished hereunder. The User covenants not to sue VietnamCredit for any amount larger than the amount stated in this Agreement for any reason whatsoever.
9. Term & Adjustment: This Agreement will be automatically renewed for the same period as agreed herewith. Cancellation or amendment of the agreement will be accepted provided that VietnamCredit receives written notification within 30 days of contract ongoing renewwal date from the User. All pre-set terms, conditions and amount will be carried forward at each renewal. VietnamCredit may revise the fees stated in the Quotations sent to the User and Agreed by User 30 days before the expire date.
10. Governing law and Jurisdiction: This Agreement shall be governed by and interpreted in accordance with the laws of Vietnam and International Practices. Any legal action or proceeding with respect to this Agreement or any matters arising out of or in connection with this Agreement or otherwise, and any action for enforcement of any judgment in respect thereof shall be brought to the courts of the State of Vietnam, and VietnamCredit and the User each hereby accepts and respects the jurisdiction of the aforesaid courts.
11.Other Terms and conditions: This Agreement constitutes the entire Agreement of User and VietnamCredit with respect to its subject matter. This Agreement is applied for all products and services provided by VietnamCredit, and replaces any prior agreements, by oral or in writing, with respect thereto. If any provision of this Agreement is found invalid or unenforceable, the validity of the remaining provisions will not be affected. Any waivers or amendments of this Agreement or any of its provisions must be in writing.
12. Final Clause: This Agreement is not binding upon VietnamCredit until being accepted by VietnamCredit. VietnamCredit may terminate this Agreement at anytime and without prior notice in case of a breach thereof by the User and otherwise upon thirty days written notice. VietnamCredit reserves the right to modify these Terms & Conditions by giving 30 days notice and/or publish it on the website of VietnamCredit.