28 2012 TT NHNN PDF

The Circular is to replace the previous one, namely Circular No. 28//TT-NHNN on 03 October issued by the State Bank of Vietnam on bank guarantee. Circular No. 28//TT-NHNN dated October 03, of the State Bank of Vietnam providing on bank guarantee. 12/10/ Download full document. Issuing regulations on bank guarantees [Note: Article was repealed by Circular TT-NHNN dated 20 November stipulating prudential ratios.


28 2012 TT NHNN PDF

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28 2012 TT NHNN PDF


The party receiving the guarantee means organization or individual being resident or non-resident possessing right to enjoy guarantee issued by credit institution or branch of foreign bank.

The counter-guarantee means bank guarantee, which 28 2012 tt nhnn institutions, branches of foreign bank the counter-guarantee party commit with the guarantee party that it shall perform the finance 28 2012 tt nhnn for the guarantee party, in case the guarantee party has performed guarantee, and must pay debt of client of the counter-guarantee party.

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

The guarantee confirmation means bank guarantee, which credit institutions, branches of foreign bank the party confirming the guarantee commit with the party 28 2012 tt nhnn the guarantee that it shall ensure capacity of performing the guaranteed obligation of the guarantee party for 28 2012 tt nhnn guaranteed party.

The party confirming the guarantee must perform the guaranteed obligation as commitment on the guarantee confirmation. Co-guarantee means combination of capital to guarantee by: The guarantee granting contract means a written agreed by the guarantee party and the guaranteed party and related parties if any about rights, obligations and other contents in performance of guarantee.

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The 28 2012 tt nhnn commitment means a guarantee written of the guarantee party and party receiving the guarantee in one of forms as follows: A guarantee for capital loan means a commitment of the guarantee party with respect to the party receiving the guarantee that the guarantee party 28 2012 tt nhnn pay debt of the guaranteed party upon the guaranteed party fails to perform 28 2012 tt nhnn perform insufficiently, not punctually the obligation of paying loan; A guarantee for payment means a commitment of the guarantee party with respect to the party receiving the guarantee that the guarantee party shall perform obligation of payment for debt of the guaranteed party upon the guaranteed party fails to perform or perform insufficiently its obligation of payment when coming time limit; A guarantee for bidding means a commitment of the guarantee party with respect to the party receiving the guarantee bid solicitor for assurance of obligation participating in bidding of the guaranteed party.

If the guaranteed party violates regulation of biding without performance or with insufficient performance of finance obligation for participation in bidding, the guarantee party shall perform for replacement.

Thông tư 28/2012/TT-NHNN

A guarantee for contract performance means a commitment of the guarantee party with respect to the party receiving the guarantee in order to ensure a proper and sufficient performance of obligations of the guaranteed party under contract signed with the party receiving the guarantee.

If the guaranteed party violates contract and be fined or must compensate for the party receiving the guarantee, and it fails to perform or perform insufficiently 28 2012 tt nhnn finance obligation, the guarantee party shall perform for replacement. A guarantee for product quality assurance means a commitment of 28 2012 tt nhnn guarantee party with respect to the party receiving the guarantee in order to assure that the guaranteed party shall properly perform agreements on product quality as contract signed with the party receiving the guarantee.

If the guaranteed party violates agreements on product quality and must compensate for the party receiving the guarantee, and it fails to perform or perform insufficiently the finance obligation, the guarantee party shall perform for replacement. A guarantee for repaying advance means a commitment of the guarantee party with respect to the party receiving the guarantee in order to ensure for obligation of repaying the advance of the guaranteed party under contract signed with the party receiving the guarantee.

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

28 2012 tt nhnn If the guaranteed party must repay advance but not repay or repay insufficiently, the guarantee party shall perform for replacement.

Other guarantee forms mean types of guarantee that is not prohibited by law and in conformity with international common practices, granted by credit institutions, branches of foreign bank under request of the 28 2012 tt nhnn party, apart from types of guarantee specified in clause 8, clause 9, clause 10, clause 11, clause 12, clause 13, clause 14 and clause 15 of this article.

Provisions on foreign current management in bank guarantee 1.

The guarantee granting in foreign currency of credit institutions, branches of foreign bank must suitable with scope of foreign currency business and service supplying in domestic and international market of credit institutions, branches of foreign bank.

The credit institutions, branches of foreign bank perform guarantee in foreign currency for organizations, 28 2012 tt nhnn being resident with respect to the guarantee obligation arising from legal transaction in foreign currency.

28 2012 TT NHNN PDF

Cases are not permitted to guarantee, restrained guarantee and implement limit of granting 1. Cases in which credit institutions, 28 2012 tt nhnn of foreign bank are not permitted to guarantee: Implement according to Article of the Law on credit institutions. When granting guarantee, credit institutions, branches of foreign bank must abide by provision on limit of granting credit in Article of the Law on credit institutions.

28 2012 TT NHNN PDF

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