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Official Gazette

Friday, June 5, 2020
Tags: creditor
Security over deposits Security over deposits
In practice, deposits at banks are used as security a great deal. However, the legal framework applicable to that kind of property remains unclear. This article tries to give an overview of the applicable provisions regarding security over deposits and to suggest how to properly construe and improve them.
Collateral foreclosure under resolution on pilot settlement of non-performing loans Collateral foreclosure under resolution on pilot settlement of non-performing loans
Since the National Assembly’s Resolution 42/2017/QH14 on the pilot settlement of bad debts of credit institutions was adopted on June 21, 2017, the bad debt settlement, particularly collateral foreclosure[1], by credit institutions and foreign bank branches in the country has seen some improvements. Aimed at addressing inadequacies of the precedent regulations on disposal of collaterals of bad debts, this Resolution itself contains some ambiguous points that need to be clarified.
Guarantees under the 2015 Civil Code: a view from practice Guarantees under the 2015 Civil Code: a view from practice
Guarantees are the most common type of personal security recognized by the general law of security. Security is notably used in the context of corporate financing. Civil Code No. 91/2015/QH13 dated November 24, 2015 contains various new rules on this security interest. This article is confined to an overview of guarantees from practice, dealing with suretyship guarantee which denotes a guarantee triggered by default on the part of the principal debtor, by way of contrast to (first) demand guarantee which denotes an independent undertaking to pay as widely used in international commerce.
Civil law on property under common ownership Civil law on property under common ownership
Continued from the article on private and common ownership published in May issue of Vietnam Law and Legal Forum, this article introduces the 2015 Civil Code’s provisions regarding the management, use, disposition and division of property under common ownership.
New rules on registration of security interests New rules on registration of security interests
Registration is the most common method of perfecting security interests. On September 1, 2017, the Government issued Decree102/2017/ND-CP on registration of security interests with effect from October 15, 2017. This long-awaited legal text implementing the 2015 Civil Code contains various new provisions on registration of security this article will try to analyze.
Retention of title under current civil law Retention of title under current civil law
Retention of title, a measure to secure performance of obligations, is one of novel contents of the 2015 Civil Code. In this article, the author analyzes the Code’s provisions concerning retention of title, the right to reclaim property and effect for a third party, and makes recommendations for future improvement.
Enforcement of security under the new resolution on dealing with bad debts Enforcement of security under the new resolution on dealing with bad debts
Resolution No. 42/2017/QH14 on trial dealing with non-performing loans of credit institutions was passed on June 21, 2017, by the National Assembly. It took effect on August 15, 2017, and remains in force for five years from that date. The resolution is a long-awaited text and expected to help credit institutions to better deal with their non-performing loans. A significant number of provisions of this text are about secured transactions which are at the heart of the process of recovery of bank loans for the time being. This article tries to give an overview of the text.
Some conditions for debt collection service to be abolished Some conditions for debt collection service to be abolished
The Ministry of Finance is considering proposing the Government to annul Decree 104 dated June 14, 2007, on debt collection service provision instead of issuance of a new decree to replace it.
Third-party security in the Civil Code Third-party security in the Civil Code
The 2015 Civil Code provides nine measures to secure the performance of civil obligations according to two approaches, namely law-prescribed security and agreement-based security, and security without property and security with property. Under either approach, the issue that attracts special attention from the parties to civil transactions is whether third-party security is recognized and what legal contents of this issue are. This article touches upon the issue in light of the Code.
Overview of the legal framework applicable to logistics services in Vietnam Overview of the legal framework applicable to logistics services in Vietnam
Under the legislation on investment, the provision of logistics services qualifies as a conditional business line. The current legal framework applicable to logistics services was enacted in line with the Schedule of Specific Commitments in Services resulting from the negotiations between Vietnam and WTO members.

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