09 2004 TT NHNN PDF

Circular No//TT-NHNN Guiding the foreign borrowing and repayment by Please download the circular here: 09__TT-NHNN. Circular 25 replaces in part Circular 09//TT-NHNN dated December on foreign loans and Circular 25//TT-NHNN dated The new Circular will take effect from 15 April, and replace Circulars 09//TT- NHNN and 25//TT-NHNN, thereby consolidating the regulations on this.

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Circular 18 also stipulates guidelines on registration of foreign borrowings and reporting regimes. Enterprises being credit institutions may sign medium- long-term foreign loan contracts only when satisfying the following conditions: This Circular includes 6 chapters and 24 articles with main substances as follows: Enterprises being credit institutions, apart from the conditions prescribed at Point 13 b and Point 14, Section I, Chapter II of this Circular, must comply with the current regulations of the State Bank on the borrowing limits, short-term foreign 200 guarantee.

The regulations on the reporting regime of borrowers, credit institutions, foreign bank branches and SBV branches ht provinces and the cities directly under the central government This Circular will take effect on November 1 stand supersedes Article 1 of Circular No.

Periodically or when necessary, the State Bank tg relevant agencies shall inspect the situation of foreign loans and loan repayment by enterprises. Prior to entering into a foreign loan agreement or submitting a request for certification of the quota on issuing international bonds, a State commercial bank must directly lodge with the SBV Department of Jhnn Exchange Control or send to it by post, one set of a file requesting the SBV’s consent to borrowing the foreign loan or to the plan on issuing international bonds.

The regulations on procedures for registration and registration of changes in nhnnn loans, including documental procedures and dossiers of registering loans. Besides, for short- medium- or long-term loans, the enterprises shall have to produce other necessary documents and dossiers when so requested by the licensed banks.

For foreign-invested enterprises, apart from the conditions prescribed at Point 13 a and Point 14, Section I, Chapter II of this Circular, they may sign short-term loan contracts only when satisfying the following conditions: Currently the borrowing of medium- and long-term foreign loans by Vietnamese business establishments including State commercial banks in Vietnam is subject to a common registration mechanism.

A dossier of foreign loan, and loan repayment registration for enterprises being other than credit institutions shall include: Competence to certify foreign loan and loan repayment registration or change registration: Any foreign loan borrowed by State commercial banks for which registration including registration of amendments was made prior to 15 October will continue to be implemented pursuant to the SBV’s registration certificate.

If you would like to learn how Lexology can drive your content marketing strategy forward, please email enquiries lexology. Where a short-term loan is extended and the total time of the extension duration and the short-term loan term exceeds one year, enterprises must register it with the State Bank within 30 working days as from the date of signing the extension contract and comply with the provisions of this Circular on medium- long-term loans.

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Enterprises may get short-term loans for addition to their working capital without calculating them into the maximum control limits of the total investment capital prescribed in the investment licenses. The regulations on the governing scope; implementers; overseas loans which are required to be registered with the SBV; maturities of loans in order to define the registering obligation; the borrowers who do the registration or registration of changes in overseas loans and overseas loan agreements with the SBV.

Reporting on the situation of medium- long-term loans and loan repayment according to a set form. Enterprises including licensed banks shall report thereon according to the provisions of this Circular.

Determining “fair market value” in a distressed market: Non-residents shall be understood according to the provisions of Vietnamese legislation on foreign exchange management. Login Register Follow on Twitter Search. The ministries, branches, managing agencies of enterprises shall, according to their functions and tasks, coordinate in directing the implementation of this Circular. Registration of foreign loans and of changes in foreign loans After obtaining the SBV’s consent, the State commercial bank will sign the foreign loan agreement and other relevant documents.

If there is an agreement to amend the foreign loan agreement which is not contrary to current law and which retains or reduces the loan quota, then the State commercial bank must sign an amendment agreement and register it pursuant to current regulations on management and repayment of foreign loans borrowed by enterprises i. Circular 18 provides for the principles, sequence and procedures for assessing and implementing the borrowing of non-Government guaranteed foreign loans by State commercial banks.

In principle, State commercial banks are only allowed to contract foreign loans upon written approval of the SBV. Enterprises signing foreign loan contracts bear self-responsibility for the legal capacities, financial capabilities, loan contract-performing capabilities of the foreign lending parties.

Foreign exchange control applicable to state commercial banks borrowing foreign loans – Lexology

State-run credit institutions, joint-stock credit institutions, cooperative credit institutions. Prior consent from the SBV ht borrowing foreign loans is a must Prior to entering into a foreign loan agreement or submitting a request for certification of the quota on issuing international bonds, a State commercial bank must directly lodge with the SBV Department of Foreign Exchange Control or send to it by post, one set of a file requesting the SBV’s consent to borrowing the foreign loan or to the plan on issuing international bonds.

In cases where enterprises withdraw capital, repay loan via a licensed bank but wish to shift to another licensed bank, they must settle all capital yt and loan repayment transactions at the former bank; if they are medium- or long-term loans, the enterprises must register with the State Bank the change of capital withdrawal, loan repayment service-providing banks.

Enterprises must produce to the licensed banks where they t the loan repayment the following documents:.

Foreign loan contracts means foreign-loan agreements with capital-withdrawing effect, which prescribe the terms and conditions of foreign loans, such as contracts on deferred-payment goods purchase, credit contracts, financial-leasing contracts and other foreign-loan agreements.

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The SBV will accept the registration of a foreign loan for the State commercial bank within 5 working days from the date of receipt of a complete application file. The SBV’s consideration and approval of foreign loans or international bond issuance for State commercial banks are based on:. Effectiveness Circular 18 will take effect as from 15 October Enterprises being other than credit institutions may sign medium-,long-term foreign loan contracts only when satisfying the following conditions: The enterprises shall have to supply all documents and necessary dossiers for the timely and effective inspection.

In case of refusal, the State Bank shall state the reasons therefor.

Foreign exchange control applicable to state commercial banks borrowing foreign loans

Follow Please login to follow content. Certification of change registration means that the State Bank issues documents certifying that enterprises have made registration of changes in a number of contents of the foreign loan contracts with registration already certified by the State Bank.

My saved default Read later Folders shared with you. Share Facebook Twitter Linked In. After obtaining the SBV’s consent, the State commercial bank will sign the foreign loan agreement and other relevant documents. Foreign loan means a medium- or long-term foreign loan namely a loan with a term above one year borrowed by a State commercial bank from a foreign credit institution or foreign financial institution which is not a resident of Vietnam, or a foreign loan borrowed by a State commercial bank in the form of issuing international bonds on the international capital market.

The regulations on the reporting regime of borrowers, credit institutions, foreign bank branches and SBV branches of provinces and the cities directly under the central government.

Register now for your free, tailored, daily legal newsfeed service. Send Us Your Comments: The licensed banks must comply with the following regulations when effecting capital withdrawals and foreign loan repayments for enterprises: Foreign loan-borrowing enterprises hereinafter called enterprises include: These banks are responsible for effectively using such loans for the right purpose and bear all the risks associated with the loans.

In cases where enterprises do not withdraw capital but only make loan repayment through the licensed banks, within 5 working days as from the date of withdrawing the capital, the enterprises must notify in writing the licensed banks where the enterprises make the loan repayment of the capital withdrawal date and the withdrawn capital amounts under foreign loan contracts.

The enterprises must register the changes with the State Bank within 30 working days as from the date of signing the change agreements and before the changes take effect.

The reports are made according to a set form. All amendments and supplements to this Circular shall be decided by the State Bank Governor.