Documentation submitted to request application of the approach to treating risks in the form of the debt rescheduling or debt relief from Vietnam Environment Protection Fund

According to Circular No. 03/2017/TT-BTNMT of the Ministry of Natural Resources and Environment of Vietnam, regarding documentation submitted to request application of the approach to treating risks in the form of the debt rescheduling or debt relief, the project owner shall send, whether directly or by post, the VEPF a set of documents, including:

- 01 copy of the request form for permission for debt rescheduling or debt relief in which causes of losses must be specified; level of losses on capital and assets; debt repayment capability; outstanding principal and interest balance amounts payable to the VEPF; debt amounts proposed to be adjusted using the debt rescheduling and relief approach;

- 01 copy of the report on determination of degree of loss on capital and assets, issued by the project owner and verified by competent individuals and entities;

- 01 copy of the last 02 years’ financial statement (if the applicant is the legal entity);

- 01 copy of the plan for recovery of business operations.

Moreover, regarding documentation submitted to request application of the approach to treating risks in the form of the debt cancellation, Circular No. 03/2017/TT-BTNMT stipulates that the project owner shall send, whether directly or by post, the VEPF a set of documents, including:

- 01 copy of the request form for access to debt cancellation in which causes of risks resulting in debt repayment incapability must be specified; level of losses on capital and assets; debt repayment capability; outstanding principal and interest balance amounts payable to the VEPF; principal and interest amounts proposed to be canceled.

- 01 copy of the competent state authority’s decision or the Court’s judgment and relevant documents relating to the liquidation of assets if the borrower is a legal entity or an economic organization which has already been bankrupt or dissolved;

- 01 authenticated copy of death certificate, recognition or decision on declaration of missing person in accordance with applicable laws if the project owner is a dead or missing individual;

- Other relevant documents (if necessary).

View details at Circular No. 03/2017/TT-BTNMT of the Ministry of Natural Resources and Environment of Vietnam, effective from May 05, 2017.

-Thao Uyen-

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