Vietnam: When shall the deposit be used?

According to Decree No. 168/2017/NĐ-CP of Vietnam’s Government, the deposit shall be used in case a tourist dies, has an accident, faces any risk or infringes human life and needs to be taken to the accommodation establishment or receive emergency treatment while the travel service provider fails to promptly provide funding therefor.

The provider shall submit a written request for a temporary release of the deposit to the authority in charge of issuing the license for provision of travel services.

- Within 48 hours from the receipt of the written request, the licensing authority shall consider requesting the bank to let the provider withdraw money from its deposit account or refuse the request.

- Within 30 days from the date of withdrawal, the travel service provider shall make additional payment to maintain the deposit.

In case of failure to do so, the bank shall inform the licensing authority.

According to Clause 3 Article 16 of Decree No. 168/2017/NĐ-CP, the travel service provider shall submit a written request for refund of deposit to the bank in the following cases:

- A licensing authority’s written notice of refusal to issue the license of provision of travel services is received or the provider wishes to change its depository bank;

- A licensing authority’s written notice of refund of deposit after revocation of the license for provision of travel services is received.

Decree No. 168/2017/NĐ-CP of Vietnam’s Government officially takes effect from January 01, 2018.

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