What are cases in which the application form for registration shall only bear signature of one of the parties participating in security interests and contracts in Vietnam?
I'm learning regulations on registration of and provision of information about security interests and contracts, and exchange of information about security interest registration with Centers for Registration of Transactions and Assets of the National Registration Agency for Secured Transactions affiliated to the Ministry of Justice. I have a question. What are cases in which the application form for registration shall only bear signature of one of the parties participating in security interests and contracts in Vietnam? Thank you!
Ngoc Anh - Long An
What are cases in which the application form for registration shall only bear signature of one of the parties participating in security interests and contracts in Vietnam? - image from internet
Pursuant to Clause 2 Article 11 of the Circular 08/2018/TT-BTP on guidelines for registration of and provision of information about security interests and contracts, and exchange of information about security interest registration with Centers for Registration of Transactions and Assets of the National Registration Agency for Secured Transactions affiliated to the Ministry of Justice (effective from 04/08/2018), the application form for registration shall only bear signature of one of the parties participating in security interests and contracts in Vietnam in following cases:
The application form for registration shall only bear signature and seal (if any) of one of the parties participating in security interests and contracts or the person authorized by one of these parties in the following cases:
a) In case one of the parties participating in security interests and contracts does not sign the application form for registration, the applicant shall send the application form for registration enclosed with an original or notarized/true certified copy of the security contract and contract in order for the Registration Center to back it up or make a comparison.
b) In the case of change of the secured party or reduction of collateral, registration of notice of intention to dispose of collateral and deregistration of the security interests, the application form for registration shall only bear the signature and seal (if any) of the secured party or person authorized by the secured party;
c) In case the deregistration involves multiple secured parties but the application form for deregistration is only signed by one of the secured parties, it is required to send a power of attorney that shows the secured parties’ consent to deregistration or a notice of mortgage release that bears all signatures of secured parties, enclosed with an application form for deregistration.
In case the secured parties do not sign the application form for deregistration, it shall only bear the signature and seal (if any) of the securing party and the applicant for registration shall send the application form for deregistration enclosed with a written consent to deregistration of security interests or notice of mortgage release of the secured parties (original or certified true copy).
Above are cases in which the application form for registration shall only bear signature of one of the parties participating in security interests and contracts in Vietnam. Please refer to the Circular 08/2018/TT-BTP for further information.
Best regards!
