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| An overview of the conference __Photo: MOJ |
On July 25, the Ministry of Justice’s Department of Registration of Secured Transactions and State Compensation held a training conference on the law governing security for the performance of obligations and the registration of security interests in movable assets.
The conference was organised for personnel responsible for registering security interests at the Department’s three registration centres for transactions and assets in Hanoi, Da Nang and Ho Chi Minh City.
It was chaired by Director General Le Ve Quoc and attended by Deputy Director General Nguyen Thi Thu Hang, members of the Professional Management Division for the Registration of Security Interests, and representatives of the Department’s Office, Online Registration Division, and Information and Data Division.
At the conference, Associate Professor Dr Nguyen Bich Thao, Acting Dean of the Faculty of Private Law at the University of Law under Vietnam National University, Hanoi, presented a thematic report entitled “Regulations on security for the performance of obligations and the registration of security interests in movable assets”.
The report provided an overview of current regulations on security for the performance of obligations, with a focus on several key issues.
First, the report emphasised that the law on secured transactions is intended to facilitate development by improving access to secured credit, thereby helping enterprises obtain capital to expand their production and business operations.
Second, it classified security interests under the 2015 Civil Code into three main groups. These comprise consensual asset-based security interests, including those requiring delivery of assets, such as pledges, deposits and escrow accounts, and those not requiring delivery, such as mortgages and retention of ownership; statutory asset-based security interests, including the retention of assets; and non-asset-based security interests, including guarantees and unsecured credit.
Third, the report outlined the structure of modern secured transactions law, covering the establishment of security interests, their effectiveness against third parties, the determination of payment priority, and the enforcement of collateral.
Associate Professor Thao also shared international experience in secured lending involving digital assets, including methods of controlling electronic records to establish the effectiveness of security interests against third parties.
Other issues discussed included principles governing the publication of notices of secured transactions involving movable assets and methods of describing collateral generally or by asset category. Such approaches facilitate the inclusion of both existing and future assets in secured transactions.
During the discussion and question-and-answer session, staff from the three registration centres sought guidance on difficulties arising in the receipt and processing of registration dossiers.
The issues raised included the application of Decree 18/2026/ND-CP regarding the use of pre-existing data in databases; the receipt or refusal of registration applications involving descriptions of parties or assets such as property rights, vehicles identified by chassis numbers, and makeshift structures; and the identification and classification of assets as movable or immovable property.
Participants also sought guidance on the receipt and handling of notices issued by tax authorities requesting the suspension of registration.
In his closing remarks, Director General Le Ve Quoc said that in addition to organising annual professional training courses for the registration centres, the Department’s advisory units should study and diversify training methods.
He suggested developing scenario-based exercises in electronic data format for publication on the Online Registration System. This would allow officers and employees to study outside working hours or at other suitable times, thereby strengthening their professional capacity and improving the quality of registration work.
The conference not only helped promptly address professional difficulties and improve the skills of registration officers, but also provided important practical input for the Department’s continued research and institutional advisory work, particularly the formulation of a decree to replace Decree 99/2022/ND-CP in the near future.-(VLLF)
