Is the secured obligor responsible for coordinating with the Vietnam credit institution when handling the loan security property as agreed (Tentative)?
How are loan guarantees implemented?
Pursuant to Article 15 of Circular 39/2016/TT-NHNN stipulates as follows:
"Article 15. Loan security
1. The application of loan security measures or non-application of loan security measures shall be agreed upon by the credit institution and the customer. The agreement on loan security measures of credit institutions with customers is in accordance with the provisions of the law on security measures and relevant laws.
2. Credit institutions decide and take responsibility for loans without applying loan security measures.
3. Customers and guarantors must coordinate with credit institutions to handle loan security assets when there are grounds for handling according to loan agreements, loan security contracts and regulations of law. "
Pursuant to the provisions of Clause 5, Article 1 of the Draft Circular amending and supplementing a number of articles of Circular 39/2016/TT-NHNN as follows:
"Article 1. Amending and supplementing a number of articles of Circular No. 39/2016/TT-NHNN dated December 30, 2016 of the Governor of the State Bank of Vietnam, regulating lending activities of credit institutions , foreign bank branches for customers
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5. To amend and supplement Clause 3, Article 15 as follows:
“3. The customer, the guarantor and the secured obligor must coordinate with the credit institution to handle the loan security property when there are grounds for handling according to the loan agreement, the loan security contract and the loan security contract. provisions of law.".
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Thus, according to the provisions of the draft, the additional subject when coordinating with the credit institution in performing the obligation to handle the loan security property is the person with the secured obligation.
Is the secured obligor respnsible for coordinating with the Vietnam credit institution when handling the loan security property as agreed (Tentative)?
What are the loan terms and conditions?
Pursuant to Article 7 of Circular 39/2016/TT-NHNN stipulating the loan conditions as follows:
"Article 7. Conditions for borrowing capital
Credit institutions consider and decide to lend when customers fully meet the following conditions:
1. Customer is a legal entity with civil legal capacity as prescribed by law. Customers being individuals aged full 18 years or older with full civil act capacity as prescribed by law or from full 15 years old to under 18 years old without loss or limitation of civil act capacity as prescribed by law. provisions of the law.
2. Demand for loans to use for lawful purposes.
3. Having a feasible capital use plan.
4. Have the financial ability to repay the debt.
5. In case a customer borrows from a Vietnam credit institution at the lending interest rate specified in Clause 2, Article 13 of this Circular, the customer is assessed by the credit institution as having a transparent and healthy financial position. ."
Pursuant to Article 17 of Circular 39/2016/TT-NHNN stipulating the authority and lending decisions of Vietnam credit institution as follows:
"Article 17. Appraisal and lending decision
1. Credit institutions shall appraise customers' ability to satisfy loan conditions as prescribed in Article 7 of this Circular to consider lending decisions. During the appraisal process, credit institutions are allowed to use the internal credit rating system, combined with information at the Vietnam National Credit Information Center and other information channels.
2. Credit institutions must organize loan review and approval according to the principle of division of responsibilities between the appraisal stage and lending decision.
3. In case the credit institution decides not to lend, the credit institution shall notify the customer of the reason at the request of the customer."
Thus, the Vietnam credit institution appraisal and lending decision of the Vietnam credit institution is specified as above.
Regulations on credit limit of Vietnam credit institution?
Pursuant to the provisions of Article 128 of the Law on Credit Institutions 2010 (amended by Clause 21, Article 1 of the 2017 Law on Credit Institutions), the Vietnam credit institution limit is prescribed as follows:
"Article 128. Credit limit
1. The total outstanding credit extension for a single customer must not exceed 15% of the own capital of commercial banks, foreign bank branches, people's credit funds, microfinance institutions; the total outstanding balance of credit extension to a customer and related persons must not exceed 25% of the equity capital of commercial banks, foreign bank branches, people's credit funds, microfinance institutions. tissue.
2. The total outstanding credit for a single customer must not exceed 25% of the equity capital of the non-banking credit institution; the total outstanding balance of credit extension for a customer and related persons must not exceed 50% of the equity capital of the non-banking credit institution.
3. The credit balance specified in Clauses 1 and 2 of this Article does not include loans from the government's entrustment capital, organizations or individuals, or where the borrower is a credit institution. other uses.
4. The outstanding credit balance specified in Clauses 1 and 2 of this Article includes the total amount of buying and investing in bonds issued by such customers and related persons.
5. Limits and conditions for granting credit for investment and trading in stocks and corporate bonds of credit institutions and foreign bank branches shall be prescribed by the State Bank.
6. In case the capital demand of a customer and related person exceeds the credit extension limit specified in Clauses 1 and 2 of this Article, the credit institution or foreign bank branch shall be entitled to appropriate credit extension. capital according to regulations of the State Bank.
7. In special cases, in order to perform socio-economic tasks but the syndication capacity of credit institutions and foreign bank branches has not yet met the needs of a single customer, the Prime Minister shall decide on the maximum credit extension beyond the limits specified in Clauses 1 and 2 of this Article for each specific case.
The Prime Minister shall prescribe the conditions, dossiers and order of requesting approval for the maximum credit extension that exceeds the limits specified in Clauses 1 and 2 of this Article.
8. The total credit extension of a credit institution, foreign bank branch specified in Clause 7 of this Article must not exceed four times the own capital of the credit institution, foreign bank branch. "
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