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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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in writing the licensed banks where the enterprises make the loan repayment of the capital withdrawal date and the withdrawn capital amounts under foreign loan contracts.
My saved default Read later Folders shared with you. Upon obtaining the SBV’s approval on the plan for the international bond issue pursuant to Circular 18, the issuing bank must follow the procedure for obtaining the certification of the quota and registration of the international bonds value in accordance with the SBV’s guidelines on foreign exchange control applicable to issuance of international bonds i.
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.
Foreign loan-borrowing enterprises hereinafter called enterprises include: New Legislation Decision No. Enterprises signing foreign loan contracts bear self-responsibility for the legal capacities, financial capabilities, loan contract-performing capabilities of the foreign lending parties.
Circular No.09/2004/TT-NHNN Guiding the foreign borrowing and repayment by enterprises
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.
Vietnam October 12 This Circular includes 6 chapters and 24 articles with main substances as follows: 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 This Circular will take effect on November 1 stand supersedes Article 1 of Circular No.
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.
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 loan guarantee. In this Circular, the phrases below shall be understood as follows: When making capital withdrawal, loan repayment via licensed banks, enterprises must comply with the following regulations: 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.
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. After obtaining the SBV’s consent, the State commercial bank will sign the foreign loan agreement and other relevant documents.
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.
Foreign exchange control applicable to state commercial banks borrowing foreign loans
Foreign exchange control applicable to state commercial banks borrowing foreign loans Mayer Jhnn LLP. Nnhn on, and procedures for, foreign loan registration: Register now for your free, tailored, daily legal newsfeed service. A dossier of foreign loan, and loan repayment registration for enterprises being other than credit institutions shall include: 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 withdrawal 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.
This Circular takes effect 15 days after its publication nhmn the Official Gazette and replaces the following documents: Circular 18 also stipulates guidelines on registration of foreign borrowings and reporting regimes.
Please contact customerservices lexology. However, as from 15 October i.
Foreign exchange control applicable to state commercial banks borrowing foreign loans – Lexology
The reports are made according to a set form. Circular 18 applies to State commercial banks and to other organisations and individuals related to or involved in the borrowing of non-Government guaranteed foreign loans by State commercial banks.
The regulations on procedures for registration and registration of changes in overseas loans, including documental procedures and dossiers of registering loans. Guiding foreign loans and loan repayment by enterprises Updated: Foreign loans of enterprises shall include loans in the following forms: The SBV’s consideration and approval of foreign loans or international bond issuance for State commercial banks are based on: 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.
Translated by Le Hang. The ministries, branches, managing agencies of enterprises shall, according to their functions and tasks, coordinate in directing the implementation of this Circular.