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.
|Published (Last):||22 July 2008|
|PDF File Size:||15.17 Mb|
|ePub File Size:||6.21 Mb|
|Price:||Free* [*Free Regsitration Required]|
Foreign exchange control applicable to state commercial banks borrowing foreign loans
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 Nhhn on the borrowing limits, short-term foreign loan guarantee. 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.
Circular 18 applies to State commercial banks and to other organisations and individuals related to or involved in the borrowing of 099 guaranteed foreign loans by State commercial banks. Legal tips for nhnj Health insurance for expats Where can foreigners get health check-ups in Vietnam? 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.
Reporting on the situation of medium- long-term loans and loan repayment according to a set form. 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. Scope and applicability 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.
The SBV’s consideration and approval of foreign loans or international bond issuance for State commercial banks are based on: After obtaining the SBV’s consent, the State commercial bank will sign the foreign loan agreement and other relevant documents.
Where a short-term loan is extended and the total time of the extension duration and the short-term loan term nhhn 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. Foreign loan and loan repayment registration means that enterprises, after signing medium- or long-term foreign loan contracts or after completing procedures for issuance of bonds overseas must carry out the procedures for registration with the State Bank according to the ttt of this Circular.
Foreign exchange control applicable to state commercial banks borrowing foreign loans – Lexology
Enterprises must produce to the licensed banks where they make the loan repayment the following documents:. In principle, State commercial banks are only allowed to contract foreign loans upon written approval of the SBV.
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.
Enterprises signing foreign loan contracts bear self-responsibility for the legal capacities, financial capabilities, loan contract-performing capabilities of the foreign lending parties. Competence to certify foreign loan and loan repayment registration or change registration: Determining “fair market value” in a distressed market: Requirements on, and procedures for, foreign loan registration: Any foreign loan agreement signed by a State commercial bank but for which registration is not made prior to 15 October must be registered pursuant to guidelines of the SBV provided for each specific case.
Foreign loans of enterprises shall include loans in the following forms: 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. The enterprises shall have to supply all documents and necessary dossiers for the timely bhnn effective inspection.
Circular No.09/2004/TT-NHNN Guiding the foreign borrowing and repayment by enterprises
Enterprises being other than credit institutions may sign medium-,long-term foreign loan contracts only when satisfying the following conditions: A dossier of foreign loan, and loan repayment registration for enterprises being other than credit yt shall include: Foreign loan-borrowing enterprises hereinafter called enterprises include: All amendments and supplements to this Circular shall be decided by the State Bank Governor.
The reports are made nhhn to a set form. Share Facebook Twitter Linked In. These banks are responsible for effectively using such loans for the right purpose and bear all the risks associated with the loans. Enterprises must produce to the licensed banks where they make the loan repayment the following documents: 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.
New Legislation Decision No. Non-residents shall be understood according to the provisions of Vietnamese legislation on foreign exchange management.