Postponing the Payment Time for Securities Transactions: What are the Principles?

According to Clause 1, Article 36, Circular 119/2020/TT-BTC, the deferral of payment deadlines is governed by the following principles:

- The Vietnam Securities Depository and Clearing Corporation will separate the quantity of insufficient securities for the purpose of deferring the payment deadline;

- The maximum deferment period is 03 working days from the payment date of the insufficient securities quantity. The value of the securities quantity deferred for payment is determined based on the closing price of the deferred securities on the trading day immediately preceding the payment date;

- The deferred payment of securities will be conducted through the common clearing method alongside other transactions with the next payment date;

- The clearing member whose transaction is deferred must compensate the relevant organization or individual with an opposite transaction at a rate of 5% of the deferred securities value per day of deferment.

Sincerely!