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Why is it necessary to have a Sales contract stamped by the financial office (office which is apart of the Ministry of finance)?

April 26, 2017apart contract Finance financial ministry necessary Office sales stamped

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Why is it necessary to have a Sales contract stamped by the financial office (office which is apart of the Ministry of finance)?

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A. The purpose of having a sales contract stamped is not to make it valid. If a dispute arises between yourselves and the opposite party, and the contract needs to be used in court as evidence, then it can only be done so if the contract has been stamped. To have a contract stamped within one month of signing it, the cost is 0.005% of the sales value stated in the contract. However after this month this cost will increase and a late penalty fee will be added. Therefore it is best to have this done at time of signing to be prepared for any problems which may or may not occur.