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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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. 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.

Within 30 days after signing such loan agreement and before the drawdown date of a first loan, the State commercial bank must directly lodge at the SBV or send to it by post, one set of a file requesting registration of the foreign loan.

Send Us Your Comments: Non-residents shall be understood according to the provisions of Vietnamese legislation on foreign exchange njnn. This Circular takes effect 15 days after its publication in the Official Gazette and replaces the following documents: The State Bank shall give its written comments on the above drafts of the State enterprises within 15 working days as from the date of receiving complete dossiers.

For foreign loans signed before this 200 takes effect and being in the process of capital withdrawal, loan repayment, enterprises shall comply with the following: Reporting on the implementation of short-term loans of enterprises, without making the capital withdrawal and loan repayment via licensed banks cases mentioned at Points 31 a31 bnhn cSection V, Chapter III of this Circular. For njnn loans borrowed by enterprises from credit institutions operating in Vietnam and foreign lending parties, regarding the foreign loans, the enterprises must comply with the provisions of this Circular.

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. 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.

Enterprises signing foreign loan contracts bear self-responsibility for the legal capacities, financial capabilities, loan contract-performing capabilities of the foreign lending parties. State-run credit institutions, joint-stock credit institutions, cooperative credit institutions. Periodically or when necessary, the State Bank and relevant agencies shall inspect the situation of foreign loans and loan repayment by enterprises.

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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.

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 provisions of this Circular. The enterprises shall have to supply all documents and necessary dossiers for the timely and effective inspection.

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

Enterprises must produce to the licensed banks where they make the loan nunn the following documents: This Circular includes 6 chapters and 24 articles with main substances as follows: Competence to certify foreign loan and loan repayment registration or change registration: 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: Enterprises including licensed banks shall report thereon according to the provisions of this Circular. In principle, State commercial banks are only allowed to contract foreign loans upon written approval of the SBV. The regulations on procedures for registration and registration of changes in overseas loans, including documental procedures and dossiers of registering loans.

Upon nhn the SBV’s approval on the plan bhnn the international bond issue pursuant to Circular 18, the issuing nhhnn 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.

New Legislation Decision No.

Foreign loan-borrowing enterprises hereinafter called enterprises include: The reports are made according to a set form. 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 tr effect on November 1 stand supersedes Article 1 of Circular No.

Foreign exchange control applicable to state commercial banks borrowing foreign loans

Certification of foreign loan repayment registration means that the State Bank issues documents certifying that enterprises have already made foreign loan and loan repayment registration with the State Bank.

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Enterprises being credit institutions, apart from the conditions prescribed at Point 13 b and Point 14, Section I, Chapter II of nhnj Circular, must comply with the current regulations of the State Bank on the borrowing limits, short-term foreign loan guarantee. Prior consent from the SBV to 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.

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My saved default Read later Folders shared with you. Any foreign loan agreement signed by a State commercial bank but for which registration is 200 made prior to 15 October must be registered pursuant to guidelines of the SBV provided for each specific case.

The regulations on acknowledging the registration and registration of changes, including the authority of acknowledging the registration and registration of changes in overseas loans; the basic condition for acknowledging; main substances of documents on acknowledging the registration of overseas loans; the processing of dossiers of registering or registering changes in overseas loans in case that the borrowers violate administrative procedures in foreign exchange management, borrowing and payment of overseas loans; the effect of documents of acknowledging the registration or registration of changes in overseas loans, revoking or terminating the effectiveness of documents of acknowledging the registration or registration of changes in overseas loans.

Reporting on the situation of medium- long-term loans and loan repayment according to a set form. Requirements on, and procedures for, foreign loan registration: Register now for your free, tailored, daily legal newsfeed service. The SBV’s consideration and approval of foreign loans or international bond issuance for State commercial banks are based on:.

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. Please contact customerservices lexology. The SBV must, within 15 working days from receipt of a complete and valid file from a State commercial bank, provide written consent or non-consent to a foreign loan or to a plan on issuance of international bonds.

Enterprises must produce to the licensed banks where they make the loan repayment the following documents:. The ministries, branches, managing agencies of enterprises shall, according to their functions 200 tasks, coordinate in directing the implementation of this Circular. Besides, for short- medium- gt long-term loans, the enterprises shall have to produce other necessary documents and dossiers when so requested by the licensed banks.

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.