The parties may, when making a contract, use written form, verbal form or any other form.
The written form shall be adopted if laws or administrative regulations so require. The written form shall be adopted if the parties so agree.
"Written form" as used herein means any form which renders the information contained in a contract capable of being reproduced in tangible form such as a written agreement, a letter, or electronic text (including telegram, telex, facsimile, electronic data interchange and e-mail).
Article 12 see also (link Article 12 - Agreed Obligations
The content of a contract is determined by the parties and generally includes the following clauses:
- designations or names and addresses of the parties;
- the targeted matter;
- price or remuneration;
- time, place and mode of fulfillment;
- liability for breach of contract, and
- dispute settlement.
The parties may make contracts with reference to various model contract forms.
If the parties adopt the form of a contract instrument to make a contract, the place where both parties sign or stamp the contract is the place of execution of the contract.
Article 36 see also (link Article 36 - Validity
Where the parties fail to make a contract in written form as provided for by laws or administrative regulations or as agreed by the parties, but a party has already performed the major obligations and the other party has accepted the performance, the contract shall be considered as executed.
A contract legally executed shall become effective upon execution. Where a contract may become effective only after the completion of approval and registration procedure according to the provisions of laws and administrative regulations, such provisions shall govern.