Regulations on acceptance testing on constituents of investment projects receiving finances regarding the small and medium enterprise development fund in Vietnam
Hello Lawnet. I have a question as follows. What are regulations on acceptance testing on constituents of investment projects receiving finances regarding the small and medium enterprise development fund in Vietnam? Thank you!
- Financing refers to the situation in which the Fund gives its capital as a sponsorship and carries out activities in support of enhancing the capability of small and medium enterprises.
- Risk acceptance ratio refers to the highest percentage of risk in a financial year that the Fund may accept in case any loss occurs. The risk acceptance ratio is measured by the value of loss leading to reduction in the chartered capital divided by the actual amount of chartered capital at the time of determination of the risk acceptance ratio.
Pursuant to Article 32 of the Decree 39/2019/NĐ-CP (takes effect from 01/07/2019) stipulating regulations on acceptance testing on constituents of investment projects receiving finances regarding the small and medium enterprise development fund in Vietnam as follows:
1. Based on dossiers on acceptance testing of financing presented by the receiving small and medium enterprise, the Fund shall carry out the acceptance testing on financing.
2. Dossiers on acceptance testing on financing shall comprise the followings:
a) Application form for acceptance testing on financing, submitted by the receiving enterprise;
b) Documents and payment evidences related to investment in development of premises, purchase of machinery and equipment of production and business plan or project.
3. The Fund shall receive and assess the adequacy of dossiers on acceptance testing on financing; verify such dossiers and conduct the acceptance testing on its financing.
4. The Fund shall be responsible for issuing verification, assessment and acceptance testing procedures to ensure compliance with the principles of fairness and public disclosure.
5. On an annual basis, the receiving enterprise shall be responsible for sending the Fund a review report on performance of production and business plan or project already receiving finances or its financial statement.
Above are regulations on acceptance testing on constituents of investment projects receiving finances regarding the small and medium enterprise development fund in Vietnam.
Best regards!
