Circular No. 126/2008/TT-BTC stipulates Rules, terms, fee schedules, and liability limits for mandatory civil liability insurance for motor vehicle owners.

CIRCULAR

Specifies the Rules, terms, fee schedules, and liability limits for mandatory civil liability motor vehicle insurance.

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Pursuant to Decree No. 118/2008/NĐ-CP dated November 27, 2008, of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Finance;

Based on Decree No. 103/2008/NĐ-CP dated September 16, 2008, of the Government on mandatory civil liability motor vehicle insurance,

The Ministry of Finance specifies the Rules, terms, fee schedules, and liability limits for mandatory civil liability motor vehicle insurance as follows:

This technical regulation sets out technical requirements, testing methods, sampling procedures; management requirements; responsibilities of organizations and individuals producing, trading, and importing cigarettes.

Thông tư này quy định chi tiết khoản 4 Điều 38 Luật Thủy sản số 18/2017/QH14 đã được sửa đổi, bổ sung tại điểm c khoản 21 Điều 14 Luật số 146/2025/QH15.

This Circular stipulates the Rules, terms, fee schedules, and liability limits for mandatory civil liability motor vehicle insurance. Motor vehicle owners, insurance companies permitted to implement mandatory civil liability motor vehicle insurance, and related organizations and individuals are responsible for complying with the provisions of this Circular and other relevant laws.

Thông tư này áp dụng đối với tổ chức, cá nhân có liên quan đến hoạt động kinh doanh đối tượng thủy sản nuôi chủ lực trên lãnh thổ Việt Nam.

2.1. Motor vehicle owners participating in traffic on the territory of the Socialist Republic of Vietnam.

2.2. Insurance companies permitted to implement mandatory civil liability motor vehicle insurance according to the law.

In this technical regulation, the following terms are understood as follows:

3.1. “Insurance company” refers to a business legally established and operating insurance activities in Vietnam and permitted to implement mandatory civil liability motor vehicle insurance.

3.2. “Motor vehicle owner” (organization or individual) is the owner of a motor vehicle or has been entrusted by the owner to possess, use, and operate the motor vehicle legally.

3.3. “Motor vehicles” includes automobiles, tractors, construction motorcycles, agricultural and forestry motorcycles, special vehicles used for security and defense purposes (including trailers and semi-trailers pulled by automobiles or tractors), two-wheeled motorcycles, three-wheeled motorcycles, motorized bicycles, and similar motor vehicles (including motor vehicles for disabled persons) that participate in traffic.

3.4. “Passenger” refers to a person carried on the vehicle under passenger transport contracts specified in the Civil Code.

3.5. “Third party” refers to a person suffering bodily injury, loss of life, or property damage caused by a motor vehicle, except for the following:

a) Drivers and assistants on the same vehicle;

b) Persons on the vehicle and passengers on the same vehicle;

c) Vehicle owners except where the owner has lawfully entrusted possession and use of the vehicle to another organization or individual.

3.6. “Name of the Port Direction Department where the participant works.” (time period) specified in this Circular means working days.

4. Principles of participation in insurance

4.1. Motor vehicle owners participating in traffic on the territory of the Socialist Republic of Vietnam must participate in mandatory civil liability motor vehicle insurance according to this Circular and other relevant laws.

4.2. Motor vehicle owners may not simultaneously enter into more than one mandatory civil liability motor vehicle insurance contract for the same motor vehicle.

4.3. In addition to entering into a mandatory civil liability motor vehicle insurance contract, motor vehicle owners may negotiate with insurance companies to enter into voluntary insurance contracts.

4.4. Insurance companies have the right to proactively sell mandatory civil liability motor vehicle insurance through the following methods:

a) Directly;

b) Through insurance agents and brokers;

c) Other forms in compliance with legal provisions.          

In cases where mandatory civil liability motor vehicle insurance is sold through insurance agents, the insurance agent must meet the standards prescribed in the Law on Insurance Business and guiding documents, and other relevant laws.

Insurance companies may not use agents to sell civil liability insurance for motor vehicle owners from other insurance companies unless such insurance companies consent in writing, and the insurance company must train and issue agent certificates in accordance with regulations.

5. Scope of compensation for damages

5.1. Damages to third parties' bodies, lives, and property caused by motor vehicles.

5.2. Damages to passengers' bodies and lives caused by motor vehicles under passenger transport contracts.

II. SPECIFIC PROVISIONS

1. Motor vehicle owner's civil liability insurance contract

1.1. The Certificate of Mandatory Civil Liability Insurance for Motor Vehicle Owners (hereinafter referred to as the Certificate of Insurance) is the sole evidence of the conclusion of a mandatory civil liability insurance contract between the motor vehicle owner and the insurance company. Each motor vehicle receives one Certificate of Insurance. If the motor vehicle owner loses the Certificate of Insurance, they must submit a written request to the insurance company (where the Certificate of Insurance was issued) to reissue it.

1.2. The insurance company will only issue the Certificate of Insurance to the motor vehicle owner when the owner has paid the full insurance premium. Payment of the full insurance premium must be confirmed by accounting vouchers of the insurance company (receipts, invoices, or other forms of vouchers as prescribed by relevant laws).

1.3. Issuance, management, and use of the Certificate of Insurance:

a) Insurance companies are permitted to print the Certificate of Insurance according to the model prescribed by the Ministry of Finance in Appendix 1 and Appendix 2 attached to this Circular. The Certificate of Mandatory Civil Liability Insurance for Motor Vehicle Owners must be printed separately and distinctly from the voluntary insurance certificate (if any). In cases where insurance companies combine the Certificate of Mandatory Civil Liability Insurance for Motor Vehicle Owners and the voluntary insurance certificate for motor vehicles, they must follow the guidelines in Appendix 3 attached to this Circular.

b) The Insurance Certificate must be numbered in a natural sequence, from small to large.

c) The Certificate of Insurance must be used in the correct order of each booklet, without skipping numbers (except in cases of errors requiring cancellation or when skipping numbers is consistent with specific management procedures of the insurance company. Cancelled Certificates of Insurance must be crossed out, clearly marked as cancelled, and stored properly at the insurance company).

d) Insurance companies must record all information required on the Certificate of Insurance. The information recorded on the Certificate of Insurance issued to the motor vehicle owner must match the information retained in the company's records.

đ) Insurance companies are responsible for maintaining ledgers to track the issuance, use, and settlement of the use of the Certificate of Insurance, ensuring detailed ongoing management of each Certificate of Insurance.

e) The insurance company must establish procedures for the issuance, management, and use of Insurance Certificates that comply with the above regulations.

2. Term and validity of insurance

2.1. The effective date of the Insurance Certificate is specifically recorded on the Insurance Certificate but shall not be earlier than the date when the owner of the motor vehicle has fully paid the insurance premium.

2.2. The insurance period recorded on the Insurance Certificate is one year. In the following cases, the insurance period may be less than one year:

a) Foreign motor vehicles temporarily imported for re-exportation with a participation period in traffic on the territory of the Socialist Republic of Vietnam under one year;

b) The usage period of the motor vehicle is less than one year;

c) Motor vehicles subject to temporary registration according to the provisions of the law, including:

- Newly imported and domestically produced assembled automobiles circulating from warehouses, ports, factories, dealerships to the place of registration or other storage locations;

- Automobiles undergoing procedures to deregister for re-export to their home country;

- Permitted transit automobiles (excluding those covered by bilateral agreements);

- Cab-over-engine trucks and cargo trucks without bodies;

- Driving test vehicles;

- Vehicles with economic zone license plates operating within Vietnam according to government regulations;

- Newly assembled vehicles in Vietnam undergoing trial runs on public roads;

- Vehicles serving conferences and sports events at the request of the Government or the Ministry of Public Security;

- Other types of motor vehicles temporarily registered according to the provisions of the law.

2.3. Within the validity period recorded on the Insurance Certificate, if there is a transfer of ownership of the motor vehicle, all insurance benefits related to the civil liability of the previous owner of the motor vehicle remain valid for the new owner of the motor vehicle.

3. Insurance Premium

3.1. The insurance premium is the amount of money that the owner of the motor vehicle must pay to the insurance company when purchasing mandatory civil liability insurance for the owner of the motor vehicle. The level of insurance premium for each type of motor vehicle is specified in Appendix 5 issued together with this Circular.

3.2. For motor vehicles permitted to purchase insurance with a term of less than one year according to point 2.2 Part II of this Circular, the insurance premium will be calculated based on the insurance premium level specified in Appendix 5 of this Circular  and corresponding to the insurance period recorded on the Insurance Certificate. The specific calculation method is as follows:

If the insurance term is thirty days or less, the insurance premium to be paid will be calculated by dividing the annual insurance premium according to the type of motor vehicle by twelve months.

4. Level of insurance liability

4. Level of Insurance Liability

The level of insurance liability is the maximum amount that the insurance company may have to pay for bodily injury, life, and property damage of third parties and passengers caused by the motor vehicle within the scope of insurance liability. Specifically, as follows:

4.1. The level of insurance liability for personal injury caused by the motor vehicle is VND 50,000,000/person/incident.

4.2. The level of insurance liability for property damage caused by two-wheeled motorcycles, three-wheeled motorcycles, motorbikes, and similar types of motor vehicles (including motor vehicles for disabled persons) is VND 30,000,000/incident.

4.3. The level of insurance liability for property damage caused by automobiles, tractors, construction machinery, agricultural and forestry machinery, and other special-purpose vehicles used for security and defense purposes (including trailers and semi-trailers pulled by automobiles or tractors) is VND 50,000,000/incident.

5. Termination of Insurance Contract

5.1. The insurance contract can only be terminated in the following cases:

a) The motor vehicle is deregistered and its license plate is withdrawn according to the provisions of the law;

b) The motor vehicle has exceeded its usage period according to the provisions of the law;

2. The owner of the motor vehicle wishing to cancel the insurance contract must notify the insurance company in writing along with the Insurance Certificate and evidence that the motor vehicle falls under the category eligible for cancellation of the insurance contract as stipulated in Clause 1 of this Article.

c) The motor vehicle is lost and confirmed by the police authority;

3. Within five days from the date of receipt of the notice, the insurance company must refund seventy percent of the insurance premium for the period of cancellation to the owner of the motor vehicle. The insurance company does not have to refund the insurance premium in cases where the insurance contract is still in effect, but the owner of the motor vehicle requests cancellation of the insurance contract after an insured event has occurred and resulted in insurance liability.

5.2. If the owner of the motor vehicle wishes to terminate the insurance contract, they must notify the insurance company in writing along with the Insurance Certificate to be terminated and evidence showing that the motor vehicle falls under the category eligible for termination of the insurance contract as stipulated in point 5.1 Part II of this Circular.

5.3. Within five days from the receipt of the notification, the insurance company must refund seventy percent of the insurance premium for the period of termination to the owner of the motor vehicle. The insurance company is not required to refund the insurance premium in cases where the insurance contract is still in effect, but the owner of the motor vehicle requests the termination of the insurance contract after an insured event has occurred and a liability for compensation arises.

5.4. In cases where the owner of the motor vehicle does not notify about the termination of the insurance contract, but the insurance company has concrete evidence showing that the motor vehicle falls under the category eligible for termination of the insurance contract as stipulated in point 5.1 Part II of this Circular, then the insurance company must notify the owner of the motor vehicle to carry out the procedures for terminating the contract. After fifteen days from the date of receipt of the notification, if the owner of the motor vehicle does not carry out the procedures for terminating the insurance contract, the insurance contract will be automatically terminated.

6. Damage Appraisal

6.1. When an accident occurs, the insurance company or the person authorized by the insurance company must closely cooperate with the owner of the motor vehicle, the third party, or the legal representative of the relevant parties to conduct an appraisal of the loss to determine the cause and extent of the loss. The results of the appraisal must be documented in writing and signed by the relevant parties. The insurance company is responsible for the costs of the appraisal.

6.2. In cases where the owner of the motor vehicle disagrees with the cause and extent of the damage determined by the insurance company, both parties may agree to select an independent appraisal agency to conduct the appraisal. In cases where the parties cannot agree on requesting an independent appraisal, one of the parties may request the court where the loss occurred or where the owner of the motor vehicle resides to designate an independent appraisal. The written conclusion of the independent appraisal has binding force on the parties.

6.3. In cases where the conclusion of the independent appraisal differs from the conclusion of the appraisal by the insurance company, the insurance company must pay the cost of the independent appraisal. In cases where the conclusion of the independent appraisal matches the conclusion of the appraisal by the insurance company, the owner of the motor vehicle must pay the cost of the independent appraisal.

6.4. In exceptional cases where it is impossible to conduct an appraisal, the insurance company may rely on the records, conclusions of competent authorities, and related documents to determine the cause and extent of the damage.

The insurance company shall not compensate for damages in the following cases:

7. Exclusions from Insurance Coverage

7.1. Intentional actions causing damage by the owner of the vehicle, the driver, or the person suffering damage.

7.2. The driver causing an intentional accident and fleeing without fulfilling the civil liability of the owner of the vehicle or the driver of the motor vehicle.

7.3. Driving without a valid driving license or a driving license not suitable for the type of motor vehicle that requires a driving license.

7.4. Indirect losses such as: reduction in commercial value, losses associated with the use and exploitation of damaged property.

7.5. Losses to property stolen or robbed during an accident.

7.6. War, terrorism, earthquakes.

7.7. Losses to special property including: gold, silver, precious stones, money, valuable papers like money, antiques, rare paintings, corpses, bones.

8.1. When a traffic accident occurs, within the scope of the insurance liability, the insurance company must compensate the motor vehicle owner for the amount that the motor vehicle owner has compensated or will have to compensate to the person suffering damage.

In cases where the owner of the motor vehicle dies or suffers permanent total disability, the insurance company directly compensates the person suffering damage.

8.2. In necessary cases, the insurance company must immediately advance reasonable expenses within the scope of insurance liability to mitigate the consequences of the traffic accident.

8.3. The level of insurance compensation:

a) The specific level of compensation for each type of injury, personal damage is determined according to the Table of Compensation for Personal Damage as prescribed in Appendix 6 issued together with this Circular. In case there is a court decision, it shall be based on the court decision but not exceeding the insurance liability limit.

In case multiple motor vehicles cause a traffic accident leading to personal damages, the level of compensation is determined according to the degree of fault of the motor vehicle owners but the total compensation shall not exceed the insurance liability limit.

b) The specific level of compensation for property damage per accident is determined based on actual damage and the fault of the owner of the motor vehicle, but not exceeding the insurance liability limit.

8.4. The insurance company is not responsible for compensating the portion exceeding the insurance liability limit as stipulated in Section 4 Part II and Appendix 6 issued together with this Circular.

8.5. In case the motor vehicle owner simultaneously participates in multiple compulsory civil liability insurance contracts for the same motor vehicle, the compensation amount shall only be calculated according to the insurance contract with the earlier effective date.

9. Claim files

The insurance company is responsible for coordinating with the motor vehicle owner, the person suffering damage, the police authority, and other relevant organizations and individuals to collect documents related to the traffic accident to establish the Claim File. The Claim File includes the following documents:

9.1. Documents related to the vehicle and driver (Copies certified by the insurance company after comparing with the original):

a) Vehicle registration certificate;

b) Driver's license;

c) Identity card or Passport or other valid identification documents of the driver;

d) Insurance certificate.

9.2. Documents proving personal damage (Copies from medical facilities or copies certified by the insurance company), depending on the extent of personal damage, may include one or several of the following documents:

a) Injury certificate;

b) Discharge certificate;

c) Surgery certification;

d) Medical record;

đ) Death certificate (in case of death of the victim).

9.3. Documents proving property damage:

a) Invoices and valid receipts for repairs or replacement of damaged property caused by the traffic accident carried out at facilities designated by the insurance company or with the consent of the insurance company.

b) Documents proving necessary and reasonable expenses incurred by the owner to minimize loss or to comply with instructions from the insurance company.

9.4. Copies of relevant documents from authorized agencies regarding the accident:

a) Accident scene investigation report;

b) Site diagram, photographs (if available);

c) Investigation report of the involved vehicles;

d) Preliminary notification of the initial investigation results of the traffic accident;

đ) Other relevant documents concerning the accident (if available).

10. Time limits for claim request, payment, and complaint

10.1. The time limit for the motor vehicle owner to request compensation is one year from the date of the accident, except in cases of delay due to objective and force majeure reasons as provided by law.

10.2. Within five days from the date of the accident (except in cases of force majeure), the motor vehicle owner must submit a written notice according to the form prescribed in Appendix 4 along with the documents specified in the claim request file under the responsibility of the motor vehicle owner issued together with this Circular to the insurance company.

10.3. The time limit for the insurance company to pay compensation is fifteen days from the date of receiving the claim file under the responsibility of the motor vehicle owner and not more than thirty days in case verification of the file is required.

10.4. In case of refusal to compensate, the insurance company must notify the motor vehicle owner in writing of the reason for refusing compensation within thirty days from the date of receiving the insurance claim request file.

10.5. The statute of limitations for initiating a lawsuit regarding insurance compensation is three years from the date the insurance company pays compensation or refuses compensation. Beyond this period, the right to initiate a lawsuit ceases to be valid.

11. Rights of the motor vehicle owner

11.1. To choose an insurance company to participate in compulsory civil liability insurance for the motor vehicle owner.

11.2. To request the insurance company to explain and provide information related to the conclusion, performance, and cancellation of the insurance contract.

11.3. In case there is a change in factors serving as the basis for calculating insurance premiums leading to a reduction in insured risks, the motor vehicle owner has the right to request the insurance company to reduce the insurance premium appropriately for the remaining term of the insurance contract.

11.4. To request the insurance company to compensate promptly, fully, and timely according to the insurance contract.

11.5. If the motor vehicle owner is a production and business unit, the insurance premium is included in the operating costs; if the motor vehicle owner is an administrative agency or a state-owned institution, the insurance premium is allocated in the regular operating budget of the agency or institution.

11.6. Other rights as prescribed by law.

12. Obligations of the motor vehicle owner

12.1. Must participate and pay the full compulsory civil liability insurance premium for the motor vehicle owner as prescribed in this Circular and relevant laws. When purchasing insurance, the motor vehicle owner must provide complete and truthful information as stipulated in the Insurance Certificate.

12.2. To facilitate the insurance company's examination of the vehicle's condition before issuing the Insurance Certificate.

12.3. In case there is a change in the purpose of using the vehicle leading to an increase or decrease in insured risks, the motor vehicle owner must promptly inform the insurance company to apply an appropriate insurance premium for the remaining term of the insurance contract.

12.4. The motor vehicle owner must always carry the valid Insurance Certificate when participating in traffic and present it upon request by traffic police forces and other competent authorities as prescribed by law.

12.5. To comply with regulations on ensuring road traffic safety.

12.6. When a traffic accident occurs, the motor vehicle owner must have the responsibility:

a) Immediately notify the insurance company to cooperate in handling the situation, actively rescue and treat, limit casualties and property damage, and protect the accident scene; at the same time, report to the nearest police agency or local authority.

b) Do not move, dismantle, or repair property without the approval of the insurance company; except in cases where it is necessary to ensure safety, prevent further damage to people and property, or comply with the requirements of authorized agencies.

c) Provide documents specified in Points 9.1, 9.2, and 9.3 of Part II of this Circular (In cases where the insurance company carries out repairs and damage mitigation, the owner of the motor vehicle does not need to provide the documents specified in Point 9.3.a of Part II of this Circular and should facilitate the insurance company's verification process).

12.7. The owner of the motor vehicle must notify the insurance company in writing  in cases where the motor vehicle falls under the category for cancellation of the insurance contract as stipulated in Point 5.1 of Part II of this Circular.

12.8. Notify and pay compensation to the injured person the amount they are entitled to receive from the insurance company for each case of personal injury according to the level of compensation specified in Appendix 6.

12.9. Other responsibilities as prescribed by law.

13. Rights of the insurance company

13.1. Collect compulsory civil liability insurance premiums for motor vehicle owners in accordance with regulations of the Ministry of Finance. In cases where there are changes in factors that serve as the basis for calculating insurance premiums, leading to increased risks covered by the insurance, the insurance company has the right to request the motor vehicle owner to pay additional insurance premiums for the remaining period of the insurance contract.

13.2. Require the motor vehicle owner to provide complete and truthful information as stipulated in the Insurance Certificate; examine the condition of the motor vehicle before issuing the Insurance Certificate.

13.3. Request the police agency to provide copies of documents related to the accident as stipulated in Clause 3, Article 22 of Decree 103/2008/NĐ-CP.

13.4. Refuse to process compensation for cases that do not fall within the scope of insurance liability.

13.5. Propose amendments and supplements to the rules, terms, and premium rates for compulsory civil liability insurance for motor vehicle owners in line with the actual implementation of such insurance.

13.6. Other rights as prescribed by law.

14. Obligations of the insurance company

14.1. Must sell compulsory civil liability insurance for motor vehicle owners in accordance with the Rules, premium rates, and levels of insurance liability as prescribed in this Circular. In cases where the insurance company receives notification from the motor vehicle owner about changes in factors serving as the basis for calculating insurance premiums, leading to reduced risks covered by the insurance, the insurance company must reduce the insurance premiums for the remaining period of the insurance contract and refund the difference to the motor vehicle owner.

14.2. Must organize extensive publicity on the compulsory civil liability insurance system for motor vehicle owners; provide full information related to the insurance contract and clearly explain the Rules, terms, and premium rates for compulsory civil liability insurance for motor vehicle owners to the motor vehicle owners.

14.3. Must use the Insurance Certificate form as prescribed in Appendices 1, 2, and 3 (if applicable) issued together with this Circular to issue to the motor vehicle owner.

14.4. Shall not provide support to insurance agents selling civil liability insurance for motor vehicle owners in any form beyond the commission rate for insurance agents as prescribed by the Ministry of Finance.

14.5. Shall not offer promotions in any form for compulsory civil liability insurance for motor vehicle owners.

14.6. Pay the police agency the costs for copying accident files and records provided and shall be responsible for maintaining confidentiality during the investigation process.

14.7. Collect documents in the Compensation File as specified in Point 9.3.a (in cases where the insurance company carries out repairs and damage mitigation) and Point 9.4 of Part II of this Circular.

14.8. Notify the injured person and the motor vehicle owner of the compensation amount for personal injury and pay the compensation amount according to the level specified in Appendix 6 issued together with this Circular.

14.9. Pay compensation promptly and accurately in accordance with this Circular and other relevant laws.

14.10 At least 15 days before the end of the insurance period, notify the motor vehicle owner about the expiration of the insurance contract.

14.11. Deduct a minimum of 2% of annual compulsory civil liability insurance premium income of motor vehicle owners into the Motor Vehicle Insurance Fund. The annual contribution rate is as prescribed by the Ministry of Finance.

14.12. Must separately account for insurance premium income, commissions, compensation, and other related expenses for compulsory civil liability insurance for motor vehicle owners.

14.13. Develop and operate an information technology system to ensure statistical and updating of the implementation of compulsory civil liability insurance for motor vehicle owners, ensuring connectivity to the database on compulsory civil liability insurance for motor vehicle owners. The minimum database must provide the following information:

a) Information on motor vehicle owners:

- Name of the motor vehicle owner;

- Identity card number of the motor vehicle owner or passport number (for individual motor vehicle owners);

- Contact address.

b) Information on motor vehicles:

- Registration plate number;

- Trademark;

- Type of vehicle;

- Engine displacement;

- Color;

- Year of manufacture;

- Engine number;

- Frame number;

- Load capacity (for automobiles);

- Number of seats (for automobiles);

- Purpose of vehicle use (commercial or non-commercial) (for automobiles);

- Insurance certificate number;

- Effective date of insurance;

- Expiry date of insurance;

- Insurance premium;

- Date of payment;

- Issuance date;

- Place of issuance;

- Issuer.

c) Information recorded regarding the number of accidents caused and the number of traffic violations handled under the Road Traffic Law by the motor vehicle driver.

- Number of accidents caused (details of time, location, level of violation as determined by the police);

- Number of times compensation received, amount of compensation per accident (details per accident);

- Number of times penalized for violating the Road Traffic Law by drivers (if any).

14.14. Report to the Ministry of Finance on the implementation of compulsory civil liability insurance for motor vehicle owners periodically or upon request, specifically:

a) Periodic reports implemented in accordance with Appendices 7 and 8 issued together with this Circular.

b) In addition to the reports specified in Appendix 7 and Appendix 8, the insurance company shall report on the implementation of mandatory civil liability motor vehicle insurance upon request of the Ministry of Finance.

Within two years from the date this Circular takes effect, the insurance company must establish a database that complies with the provisions of point 14.13 Part II of this Circular.

14.15. Subject to inspection and supervision by competent state agencies in the implementation of mandatory civil liability motor vehicle insurance.

14.16. Other responsibilities as prescribed by law.

15. Dispute Resolution

Any disputes arising from insurance contracts, if not resolved through negotiation between the parties, shall be referred to the courts in Vietnam for resolution.

III. IMPLEMENTATION

1. This Circular takes effect fifteen days from the date of publication in the Official Gazette, replacing Decision No. 23/2007/QĐ-BTC dated April 9, 2007 of the Minister of Finance on the issuance of regulations on mandatory civil liability motor vehicle insurance.

2. In the course of implementation, if any difficulties arise, they should be promptly reported to the Ministry of Finance for consideration and resolution ./