Vietnam: Application file for registration for change of guaranteed debt collection from February 14, 2014

In case of arising any change in any detail relating to the collection of guaranteed debt as mentioned in the written confirmation of the State Bank for the registration for collection of guaranteed debt, the guarantor or guarantor’s representative shall be responsible to register for the change of guaranteed debt collection in accordance with provisions in Article 14 of Circular No. 37/2013/TT-NHNN of the State Bank of Vietnam.

Specifically, an application file for registration for change of guaranteed debt collection shall consist of:

- An application for registration for change of guaranteed debt collection (as per Appendix 04 enclosed with this Circular).

- Copies and Vietnamese translations of concluded agreement on change of guarantee commitment, guarantee agreement (with confirmation of the Guarantor or Guarantor’s representative for the accuracy of the copies and translations) where the changed details need agreement between the parties.

- A copy (with confirmation of the Guarantor) of the written approval of the Prime Minister for the changed details relating to the guarantee to non-resident of the economic organization (for the case where the guarantee amount of the economic organization is increased or term of the guarantee or co-guarantee is extended or where the Guarantor is changed).

- A written confirmation of the credit institution which supplies account service on the performance of guarantee obligation, debt collection as of the time of applying for confirmation of registration for change (for the case where registration is for change in the schedule of debt collection).

- A document made by the Guarantor that clearly explains the change of the guaranteed debt collection (for the case where the components of application file as prescribed in Clause 2 and Clause 3 Article 13 hereof are unavailable).

View other provisions at Circular No. 37/2013/TT-NHNN of the State Bank of Vietnam, effective from October 05, 2015.

- Thu Ba -

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