Decree 104: State management of debt collection services in Vietnam

Decree 104: State management of debt collection services in Vietnam (Internet image)

Decree 104/2007/ND-CP specifically stipulates the responsibilities of state agencies in managing debt collection services in Vietnam:

Responsibilities of the Ministry of Finance of Vietnam

- Develop and submit to competent authorities for issuance or issue under its authority legal documents on debt collection services.

- Guide, inspect, and supervise the activities of debt collection service business enterprises.

Responsibilities of the Provincial and City People's Committees

- Inspect and supervise debt collection services in the province or city and handle violations within their authority regarding debt collection services.

- Report to the Ministry of Finance on the situation of debt collection services in the province or city periodically every 6 months, annually, and unexpectedly.

Responsibilities of the Business Registration Office

- Receive, review the business registration dossiers of debt collection services, and issue business registration certificates for debt collection service business to enterprises if the dossiers meet the prescribed conditions.

- Report to the provincial and city People's Committees under the Central Government on the issuance of the Business Registration Certificate for debt collection service business to enterprises (or the issuance of an Operating Registration Certificate to branches).

Details can be found at Decree 104/2007/ND-CP which comes into effect in Vietnam from July 28, 2007.

Ty Na

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