What are regulations on receipt and processing of exchanged information regarding exchange of information about security interest registration 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 regulations on receipt and processing of exchanged information regarding exchange of information about security interest registration in Vietnam? Thank you!
Thanh Hang - Long An
What are regulations on receipt and processing of exchanged information regarding exchange of information about security interest registration in Vietnam? - image from internet
Pursuant to Article 22 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 receipt and processing of exchanged information regarding exchange of information about security interest registration in Vietnam are as follows:
1. In the case of a request for a notice of mortgage of rod motor vehicle, inland watercraft, fishing vessel or railway vehicle, the Registration Center shall send a copy of the certificate of registration of security interests and contracts, notice of seizure of property to enforce a judgment enclosed with an Appendix that shows information about the vehicle mortgage (or release of vehicle mortgage) to a registry of ownership or right to circulation of property.
After obtaining the notice of receipt/processing of information about collateral sent by the registry of ownership or right to circulation of property, the Registration Center shall send a notice on receipt/processing of information about collateral to the applicant for registration.
2. In case the civil judgment enforcement authority sends a notice of property seizure or notice of seized property release, in person, by post or by email, to the Registration Center, the Registration Center shall record the exchange and provision of information about security interests; update information specified in the notice of property seizure or notice of seized property release to the security interest database and retain and manage the documents concerning information exchange as prescribed by law.
In case the civil judgment enforcement authority sends a notice of property seizure or notice of seized property release to the Registration Center through the online system, the executor shall follow the instructions provided in Article 56 of the Decree No. 102/2017/ND-CP.
3. Upon receipt of the notice of property seizure, in case the registrar finds that there is a transaction or contract that has been registered in the name of the enforcement debtor from the date on which the enforcement officer certifies the property to be seized to the date on which the Registration Center receives the notice of property seizure, the Registration Center shall send a written notice of such contractions and contracts and a notice of property seizure to the enforcement officer.
4. In case the enforcement officer has sent the notice of property seizure but then found that such notice is the same as the previous notice, he/she shall submit an application form for deletion of the notice to the Registration Center or delete it on the electronic form.
Above are regulations on receipt and processing of exchanged information regarding exchange of information about security interest registration in Vietnam. Please refer to the Circular 08/2018/TT-BTP for further information.
Best regards!
