DOWNLOAD 28/2012/TT-NHNN

The guarantee confirmation means bank guarantee, which credit institutions, branches of foreign bank the party confirming the guarantee commit with the party receiving the guarantee that it shall ensure capacity of performing the guaranteed obligation of the guarantee party for the guaranteed party. The Circular is also expected to create a new legal framework to ensure that the international standards on bank guarantee are met as well as to help appropriately synchronize with other relevant laws and to minimize limitations and weaknesses of the current operations on bank guarantee. The providers of payment services must update the information about the installation, change of locations, or suspension of the ATMs on their official websites. Responsibilities of units of the State bank 1. Obligation of payment for purchasing materials, goods, machines, equipment and expenditures of performing project or plan on investment, manufacture, business or life seivices. Organizations including foreign credit institutions in case of co-guarantee , individuals relating to guarantee operation.

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Formulate and issue the regulations and instruction to use the services provided by the ATMs. Co-guarantee means combination of capital to guarantee by: Cases in which institutions and branches of foreign banks are permitted to implement the guarantee for organizations being non-residents: From that, it is easier to calculate guarantee issuing balance, symmetry guarantee, guarantee confirming and as basis for considering conditions 28/2012/tt-nynn requirements to customers for accepting bank guarantee.

Monique Greene Corporate Counsel Powershop. Keep the data and information of customers confidential during the processing, transmission, and storage of data.

New guidance on bank guarantee in Circular No. 28/2012/TT-NHNN

Obligation of payment for tax, charge, other finance obligation for State. Not later than 05 five working days after the party receiving the guarantee has presented sufficiently the dossier requesting for performance of guarantee obligation, the guarantee party, the party confirming the guarantee shall sufficiently and properly perform the guarantee obligation with respect to the party receiving the guarantee.

Credit institutions, branches of foreign bank must perform accounting, monitoring all guarantees arising as prescribed. When having demand of provision of foreign currency loans, credit institutions, branches of foreign banks must have written request to the State bank of Vietnam for acceptance of provision of foreign currency loans.

Principle of collection of card service charges 1. Commitment on guarantee 1.

To transfer its rights and obligations for other credit institutions or branches of foreign bank under agreement of related parties and acceptance of the State bank with respect to each specific 28/2012/tr-nhnn. Comply with the current regulations on the safety and security of the information technology system in banking activities.

Circular No. 35//TT-NHNN stipulating on charges of the inland debit card

External-network ATM transactions mean card transactions performed at ATM of organizations that not being organizations issued cards for card holders. In this Circular, the 28/2012/rt-nhnn terms are construed as follows: The guaranteed obligation and transaction arising it are legal. To sum up, report figures of guarantee with respect to organizations being non-resident persons and send it to the State bank the Credit Department according to the Form No.

The responsibility of the units affiliated to the State bank of Vietnam 1. The credit institutions, branches of foreign bank perform guarantee in foreign currency for organizations, individuals being resident with respect to the guarantee obligation 28/20012/tt-nhnn from legal 28/2012tt-nhnn in foreign currency. Subjects of application Subjects of application include: The regulations on the safety and security of ATM transactions The providers of payment services must: Pursuant to the Civil Code No.

If credit institutions, branches of foreign bank guarantee for an associated obligation, they must agree with each client about payable charge on the basis of associated obligation corresponding to each client.

Within guarantee time limit, the guarantee party or the party confirming the guarantee shall perform guarantee obligation when the party receiving the guarantee presents a request for performance of guarantee obligation and legal and valid dossiers, documents, enclosed vouchers if any which satisfying sufficient conditions prescribed in guarantee commitment or guarantee-confirming commitment.

Card transactions mean use of card for remittance, withdrawal in cash, transfer, payment for goods, services, request for account or use of other services which are supplied by organizations of provision of card services. To sue as prescribed by law when the guaranteed party, the counter-guarantee party violate the committed obligations. To refuse performance of guarantee obligation when the guarantee commitment is expired or dossier requesting for guarantee payment fails to meet conditions specified in the guarantee commitment, or having evidences to prove that the presented documents are fake.

ATM transactions mean card transactions conducted at automatic transaction machines. Obligation upon participation in bidding. Outstanding loan balances in point e item 2 part I excludes outstanding loan balances in points a, b, c, d item 2 part I 3. To be more specific, the Circular requires the investor of a real estate project to undertake that the guarantee for selling, leasing future residential houses will be effective at least 30 additional days since the date of the delivery of the houses, basing on the agreement between the investor and customer.

To suggest the party confirming guarantee to confirm guarantee with respect its guarantee amount for the guaranteed party.

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The establishment of security measure for entire or part of obligation of guaranteed party with respect 28/2012/ht-nhnn the guarantee party shall be agreed by parties. Provisions on foreign current management in bank guarantee 1. The regulations on the inspection and maintenance of the ATMs The providers of payment services must: The guaranteed party means organization including credit institutions, branches of foreign bankindividual being resident and organization being not resident being guaranteed by credit institution or branch of foreign bank.