Regulations on Restructuring Debt Repayment Terms of the Cooperative Fund
According to Article 27 of Decree 45/2021/ND-CP on the rescheduling of debt repayment terms for cooperative funds, provision is as follows:
The cooperative fund reviews and decides on the rescheduling of debt repayment terms (including measures for adjusting the repayment schedule and extending the repayment period) based on the customer's request, the financial capacity of the cooperative fund, and the evaluation results of the customer's repayment ability, as follows:
If the customer is unable to repay the principal debt and/or loan interest on the due date and is assessed by the cooperative fund to have the ability to fully repay the principal debt and/or loan interest according to the adjusted repayment schedule, the cooperative fund will consider adjusting the repayment schedule of the principal debt and/or loan interest in line with the customer's repayment resources; the loan term remains unchanged.
If the customer is unable to fully repay the principal debt and/or loan interest by the agreed loan term and is assessed by the cooperative fund to have the ability to fully repay the principal debt and/or loan interest within a certain period after the loan term, the cooperative fund will consider extending the repayment period in line with the customer's repayment resources.
The authority to decide on the rescheduling of debt repayment terms follows the Charter of organization and operation of the cooperative fund and the internal regulations on lending and loan management of the Fund.
Respectfully!
