06 obligations of credit rating agencies in Vietnam

17:20, 05/10/2014

On September 26, 2014, the Government of Vietnam issued the Decree No. 88/2014/NĐ-CP on credit rating services.

10 conditions for grant of business eligibility certificates for credit rating services in Vietnam

Nghĩa vụ của Doanh nghiệp xếp hạng tín nhiệm, Nghị định 88/2014/NĐ-CP

According to Clause 2 Article 13 of the Decree No. 88/2014/NĐ-CP of Vietnam’s Government, credit rating agencies have the following obligations:

- To provide credit rating services only when obtaining business eligibility certificates and to disclose information under Article 18 of this Decree;

- To adhere to the principles prescribed in Article 5 of this Decree when organizing the provision of credit rating services;

- To comply with this Decree and other relevant regulations when providing credit rating services;

- To ensure that the payment of salaries, wages and bonuses to analysts and members of credit rating councils does not depend on service charges and credit rating results of credit rating contracts in which these persons participate;

- To maintain all necessary conditions on capital, personnel and operation prescribed in this Decree and other relevant regulations;

- To take responsibility before law and rated organizations for credit rating results under signed contracts.

View more details at the Decree No. 88/2014/NĐ-CP of Vietnam’s Government, effective from November 15, 2014.

Ty Na

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