Vietnam: Conditions for remission of late payment interest on bad debts
This is an important content specified in Circular No. 09/2017/TT-NHNN of the State Bank of Vietnam amending Circular No. 19/2013/TT-NHNN on purchase, sale and settlement of bad debts by Vietnam Asset Management Company (VAMC).
Article table of contents
Specifically, according to Circular No. 09/2017/TT-NHNN of the State Bank of Vietnam, VAMC shall consider reducing or removing the outstanding late payment interest, fees and fines when they borrower fully pays the principal of all bad debts at VAMC or satisfies the following conditions:
- The borrower cooperates with VAMC and the authorized credit institution;
- The remission helps the borrower alleviate its financial difficulties or restore its business performance;
- The borrower has a feasible plan for paying the debt or financial restructuring serving debt repayment.
View procedures for remission at Circular No. 09/2017/TT-NHNN of the State Bank of Vietnam, effective from August 15, 2017.
- Thanh Lam -
- Key word:
- Circular No. 09/2017/TT-NHNN
- Regulations on passenger transport business by fixed-route automobile in Vietnam from January 1, 2025
- Technical procedures for transporting hazardous waste from households and individuals from collection areas to treatment facilities or hazardous waste storage areas in Vietnam
- Guidelines on thematic communication regarding the Law on Social Insurance 2024 in Vietnam
- Duties of the provincial-level Steering Committee for Anti-Corruption and Negative Conduct in Vietnam
- Regulations on the collection, registration, storage, and disclosure of information on scientific and technological tasks within the Ministry of National Defense of Vietnam
- Technical procedures for mechanized collection of solid household waste from families andindividuals to the receiving facility in Vietnam
-
- Vietnam: Supplementing regulations on selling ...
- 15:35, 20/08/2017
-
- Vietnam: The debt purchase shall be made into ...
- 15:38, 17/08/2017
-
- Vietnam’s new regulations on purchase of bad debts ...
- 15:42, 16/08/2017
-
- New conditions for bad debts to be bought by Vietnam ...
- 15:44, 15/08/2017
-
- Regulations on passenger transport business by ...
- 08:00, 24/12/2024
-
- Technical procedures for transporting hazardous ...
- 19:30, 23/12/2024
-
- Guidelines on thematic communication regarding ...
- 18:59, 23/12/2024
-
- Duties of the provincial-level Steering Committee ...
- 18:34, 23/12/2024
-
- Regulations on the collection, registration, storage ...
- 18:00, 23/12/2024
