Circular No. 06/2011/TT-BKHCN on the management and use of the Guarantee Fund for Loans for Energy Efficiency and Conservation Projects at Small and Medium Enterprises

CIRCULAR

REGULATIONS ON MANAGEMENT AND USE OF THE GUARANTEE FUND FOR LOANS TO PROJECTS USING ENERGY EFFICIENCY AND CONSERVATION AT SMALL AND MEDIUM ENTERPRISES

Decree No. Decree No. 28/2008/NĐ-CP dated March 14, 2008 of the Government on the functions, tasks, powers, and organizational structure of the Ministry of Science and Technology;
Decree No. Decree No. 122/2003/NĐ-CP dated October 22, 2003 of the Government on the establishment of the National Science and Technology Development Fund;
The Minister of Science and Technology hereby stipulates regulations on the management and use of the Guarantee Fund for Loans to Projects Using Energy Efficiency and Conservation at Small and Medium Enterprises (Guarantee Fund) as follows:

PART I
GENERAL PROVISIONS

Article 1. Scope of Regulation and Applicability

Thông tư này quy định chi tiết khoản 4 Điều 38 Luật Thủy sản số 18/2017/QH14 đã được sửa đổi, bổ sung tại điểm c khoản 21 Điều 14 Luật số 146/2025/QH15.

This Circular stipulates the management and use of the Guarantee Fund for Loans to Projects Using Energy Efficiency and Conservation at Small and Medium Enterprises (Guarantee Fund).

Thông tư này áp dụng đối với tổ chức, cá nhân có liên quan đến hoạt động kinh doanh đối tượng thủy sản nuôi chủ lực trên lãnh thổ Việt Nam.

a) The National Science and Technology Development Fund (NSTDF).

b) Financial organizations and commercial banks.

c) Small and medium enterprises (SMEs).

d) Energy efficiency and conservation service organizations (EECSOs).

e) Organizations and individuals related to the implementation of this Circular.

Article 2. Legal Status

1. The Guarantee Fund shall be managed and utilized by the NSTDF upon assignment by the Ministry of Science and Technology.

2. The activities of the Guarantee Fund are not profit-oriented and must be used for their intended purpose and effectively.

Article 3. Explanation of Terms

In this Circular, the following terms are understood as follows:

1. DNNVV is an SME as defined in Decree No. 56/2009/NĐ-CP dated June 30, 2009 of the Government on assistance for the development of SMEs.

2. EECSO is an organization with the function of consulting and/or operating in the field of energy services and technology transfer.

3. Guarantor is a commercial bank entrusted by the NSTDF to manage the Guarantee Fund according to the agreement between both parties.

4. Borrower is an SME or an EECSO.

5. Beneficiary are financial organizations/commercial banks legally lending operations in Vietnam.

6. Guarantee Certificate is a written commitment by the Guarantor to the Beneficiary regarding the Guarantor's obligation to fulfill the debt repayment on behalf of the Borrower when the Borrower fails to repay or repays insufficiently and untimely the loan as agreed with the Beneficiary.

7. Loan Guarantee Contract is a written agreement signed between the Guarantor and the Borrower regarding the Guarantor's obligation to fulfill the debt repayment on behalf of the Borrower when the Borrower fails to repay or repays insufficiently and untimely the loan as agreed with the Beneficiary.

8. Investment Project Using Energy Efficiency and Conservation (Energy Saving and Efficiency Project) is an investment project implementing management and technical measures to reduce losses, decrease energy consumption levels of equipment and devices while ensuring the required needs and objectives for production processes and daily life.

Chapter II
SPECIFIC PROVISIONS

Article 4. Sources of Capital for the Guarantee Fund

The sources of capital for the Guarantee Fund include:

1. One million six hundred ninety-nine thousand nine hundred ninety-one United States dollars (USD 1,699,991) (this foreign currency amount will be converted into Vietnamese dong based on the buying rate of the entrusted bank at the time of handover) from the "Enhancing Energy Efficiency in Small and Medium Enterprises in Vietnam" project funded by the Global Environment Facility.

2. Legally raised and sponsored funds from domestic and foreign organizations and individuals (if any).

3. Recovered debts and debt processing after deducting debt processing costs for any amounts paid on behalf of the borrower.

4. Additional capital from the results of the Guarantee Fund's operations (if any).

Article 5. Use of Fund capital for loan guarantee

1. Guaranteeing a loan guarantee.

2. Repaying debt on behalf of the borrower according to the signed loan guarantee contract.

3. Expenditure for managing the loan guarantee fund.

Article 6. Entities eligible for loan guarantees

1. Small and medium-sized enterprises.

2. Energy-saving and efficiency service organizations.

Article 7. Scope of loan guarantees

1. The guarantor may guarantee part or all of the loan of SMEs and energy-saving and efficiency service organizations from commercial banks or financial institutions, but not exceeding 70% of the total project investment amount after deducting working capital.

2. The guarantor only guarantees the principal repayment obligation of the guaranteed party at commercial banks or financial institutions.

Article 8. Limitations on loan guarantees

1. The maximum loan guarantee for an energy-saving and efficiency project is VND 3 billion and/or for the guaranteed party is VND 4.5 billion.

2. The multiple of the loan guarantee provided by the loan guarantee fund shall not exceed twice the available capital and may be adjusted based on the risk level of energy-saving and efficiency projects during different periods.

Article 9. Conditions for issuing loan guarantees

1. Having an energy-saving and efficiency project approved for economic and technical feasibility by the National Science and Technology Development Fund and accepted for lending by the guarantor.

2. The guaranteed party must have contributed at least 30% of the total project investment capital as equity.

3. Providing collateral for the loan guarantee:

a) Assets formed from borrowed funds, and/or

b) Other assets of the guaranteed party or third parties.

4. In addition to the conditions stipulated in Clauses 1, 2, and 3 of this Article, the guaranteed party must meet other conditions set by the guarantor.

Article 10. Duration of loan guarantees

The duration of the loan guarantee corresponds to the lending period of the guarantor and does not exceed the recovery period for fixed asset investment. The guarantee period can be extended according to changes in the loan period, but not more than one-third of the initial guarantee period of the loan.

Article 11. Loan guarantee fees

1. The maximum guarantee fee rate is 0.8% per annum on the guaranteed amount. Fee collection is in accordance with the agreed guarantee period in the loan guarantee contract. The guarantor has the right to waive or reduce the guarantee fee in cases where the guaranteed party encounters force majeure risks.

2. If the guaranteed party delays payment of the guarantee fee to the guarantor, the late payment fee will be calculated as the sum of the due fees plus interest at 150% of the actual loan interest rate applied to the delayed fee amount and the delay period.

Article 12. Documents for requesting loan guarantees

1. A request letter for loan guarantee from SMEs or energy-saving and efficiency service organizations.

2. Documentation proving that the requesting party meets the guarantee eligibility criteria as specified in Article 9 of this Circular.

3. Additional documents required by the guarantor.

Article 13. Process for issuing loan guarantees

1. When there is a need for a loan guarantee for an energy-saving and efficiency project, the requesting party submits the application documents to the National Science and Technology Development Fund.

2. Within thirty days from receipt of complete documents, the National Science and Technology Development Fund and the guarantor will assess the technical and financial aspects of the project and the customer. If approved, the National Science and Technology Development Fund will notify the requesting party and the guarantor. If not approved, the National Science and Technology Development Fund will inform the requesting party and provide clear reasons for non-approval.

3. Based on the notification of approval from the National Science and Technology Development Fund, the guarantor sends a document to the lender so that the lender can base their credit agreement with the customer.

4. After signing the credit agreement between the lender and the guaranteed party, the guarantor proceeds to sign the loan guarantee contract and the guarantee security contract with the guaranteed party; issues a guarantee certificate to the lender.

5. The lender provides a loan to the guaranteed party in accordance with the current regulations of the State Bank of Vietnam regarding the lending mechanism of commercial banks to customers.

Article 14. Loan Guarantee Contract

1. The loan guarantee contract shall include the following basic contents:

a) Name and address of the Guarantor and the Guaranteed Party.

b) Place and time of signing the loan guarantee contract.

c) Amount, duration of validity, and guarantee fee for the loan.

d) Purpose and content of the loan guarantee.

đ) Conditions for performing the guarantee obligation.

e) Security measures for the guarantee and value of the secured assets.

g) Rights and obligations of the parties.

h) Agreement on repayment by the Guaranteed Party after the Guarantor has fulfilled the guarantee obligation.

i) Agreement on dispute resolution arising therefrom.

k) Other agreements.

2. In cases where the Guaranteed Party and the Guaranteed Party wish to amend terms in the credit contract related to the content of the loan guarantee contract, such amendments must be approved in writing by the Guarantor. The loan guarantee contract may be amended, extended, or terminated upon agreement among the relevant parties.

Article 15. Risk Management Process

1. Within the latest thirty days from receiving the request to perform the guarantee obligation from the Guaranteed Party, the Guarantor shall review and agree with the Guaranteed Party on whether to fulfill or not fulfill the guarantee obligation according to the commitment stated in the guarantee certificate and the loan guarantee contract signed.

2. In cases where the guarantee obligation must be fulfilled according to the commitment, the parties shall proceed as follows:

a) The Guarantor shall notify and request the National Science and Technology Development Fund to fulfill the obligation to repay the debt on behalf of the Guaranteed Party as committed.

b) The National Science and Technology Development Fund shall use the fund's resources to fulfill the obligation to repay the debt on behalf of the Guaranteed Party.

c) After receiving the approval document for repaying the debt on behalf of the National Science and Technology Development Fund, the Guarantor shall require the Guaranteed Party to accept compulsory debt for the amount the Guarantor repaid when fulfilling the guarantee obligation at an interest rate equal to 150% of the interest rate for loans within the term of commercial banks (the Guarantor) at the time of accepting the debt. The Guaranteed Party is responsible for repaying the compulsory loan (including principal and interest) to the Guarantor.

d) The Guarantor shall implement measures to recover debts, handle bad debts, and manage risks according to the Guarantor's regulations and laws or initiate legal proceedings against the Guaranteed Party before the Court.

Article 16. Rights and Obligations of the National Science and Technology Development Fund

1. The National Science and Technology Development Fund has the right

a) To entrust commercial banks to carry out guarantee-related operations, debt recovery, and other management activities of the loan guarantee fund.

b) To request enterprises to provide documents and information related to the assessment of loan guarantees and security measures for guarantee obligations.

c) To accept or reject loan guarantee applications, amend, extend, or terminate loan guarantees for the Guaranteed Party.

d) To charge fees or entrust commercial banks to collect guarantee fees according to regulations.

e) To request the Guarantor to advise the Guaranteed Party to cease lending and pre-maturely recover debts if the Guaranteed Party breaches the guarantee contract, the credit contract, or violates the law.

g) To cooperate with the Guarantor and the Guaranteed Party to inspect and supervise the use of borrowed funds and assets formed from borrowed funds by the Guaranteed Party.

h) To refuse to fulfill the obligation to repay the debt on behalf of the Guaranteed Party in the following cases:

The Guaranteed Party does not conduct inspections and supervision according to the Guarantor's regulations regarding the improper use of borrowed funds and assets formed from borrowed funds that do not comply with the purpose of borrowing as stated in the Guaranteed Party's credit contract.

The Guaranteed Party has not fully implemented the contents stipulated in the guarantee certificate.

2. The National Science and Technology Development Fund has the obligation

a) To fulfill the obligation to repay the debt on behalf of the Guaranteed Party as agreed with the Guarantor.

b) To pay the entrusted agency fee to the commercial bank entrusted by the National Science and Technology Development Fund according to the Entrustment Contract.

c) To report annually or at any time as required about the results of the loan guarantee fund's operation to competent authorities.

Article 17. Rights and Obligations of the Guarantor Party

1. The Guarantor Party has the following rights:

a) Requesting the Guaranteed Party to provide relevant documents and information for assessing the guarantee and securing measures for the guarantee obligation.

b) Issuing, amending, supplementing, extending, or canceling the guarantee certificate after receiving a written opinion from the National Science and Technology Development Fund.

c) Requesting the Beneficiary Party to terminate the loan and recover the debt prematurely if the Guaranteed Party breaches the guarantee contract, the credit contract, or violates the law, and reporting to the National Science and Technology Development Fund.

d) Cooperating with the Beneficiary Party to inspect and supervise the use of borrowed capital and assets formed from borrowed capital of the Guaranteed Party to ensure that such capital and assets are used for their intended purposes as committed in the credit contract.

đ) Refusing to fulfill the guarantee obligation in the following cases:

The Guaranteed Party does not conduct inspections and supervision according to the Guarantor's regulations regarding the improper use of borrowed funds and assets formed from borrowed funds that do not comply with the purpose of borrowing as stated in the Guaranteed Party's credit contract.

The Guaranteed Party has not fully implemented the contents stipulated in the guarantee certificate.

e) Requesting the Guaranteed Party to accept compulsory debt and repay the full amount that the National Science and Technology Development Fund has paid on its behalf (including both principal and interest), and handling the collateral according to regulations.

g) Initiating legal proceedings when the Guaranteed Party breaches the commitment obligations.

2. The Guarantor Party has the following obligations:

a) Fulfilling the guarantee obligation according to the guarantee certificate.

b) Returning fully the collateral and related documents to the Guaranteed Party when settling the guarantee contract.

c) Transferring the right to receive and handle the collateral to the Beneficiary Party if the Guarantor Party refuses to fulfill the guarantee obligation.

d) Providing information and periodic or ad hoc reports on the situation of guaranteed loans to the National Science and Technology Development Fund.

Article 18. Rights and Obligations of the Guaranteed Party

1. The Guaranteed Party has the following rights:

a) Proposing the Guarantor Party to sign a guarantee contract, issue a guarantee certificate; amend, supplement, extend, or cancel the guarantee when there are changes to the terms of the credit contract.

b) Requesting the Guarantor Party to fulfill the guarantee commitment and agreements in the guarantee contract.

c) Initiating legal proceedings when the parties involved breach the commitment obligations in the guarantee contract, credit contract, or guarantee certificate.

2. The Guaranteed Party has the following obligations:

a) Providing complete, accurate, and truthful documents and information as required by the National Science and Technology Development Fund, the Guarantor Party, and the Beneficiary Party, and being responsible for the accuracy of the provided information and documents.

b) Fully and timely fulfilling the commitments made to the Guarantor Party and the Beneficiary Party.

c) Timely paying the full guarantee fee.

d) Using borrowed capital and assets formed from borrowed capital for their intended purposes, ensuring efficiency.

đ) Accepting debt from the Guarantor Party and repaying the debt to the National Science and Technology Development Fund the amount the National Science and Technology Development Fund has paid on its behalf, including both principal and accrued interest.

e) Accepting inspection, supervision, and reporting on activities related to guaranteed loan transactions to the Guarantor Party and the Beneficiary Party.

g) Repaying the debt prematurely to the Beneficiary Party when requested by the parties.

Article 19. Rights and Obligations of the Beneficiary Party

1. The Beneficiary Party has the following rights:

a) Exercising the rights of a credit organization towards customers as stipulated by the Law on Credit Institutions and related documents.

b) Requesting the Guarantor Party to fulfill the obligations according to the guarantee certificate and other related agreements.

c) Requesting the Guarantor Party to transfer the right to receive and handle the collateral in case the Guarantor Party refuses to fulfill the guarantee obligation.

d) Initiating legal proceedings when the parties breach the agreements in the contract.

đ) Exercising other rights as agreed.

2. The Beneficiary Party has the following obligations:

a) Fulfilling the obligations of a credit organization towards customers as stipulated by the Law on Credit Institutions and related documents.

b) Inspecting and supervising the use of borrowed capital, assets formed from borrowed capital, and repayment of borrowed debt by the Guaranteed Party to ensure that such capital and assets are used for their intended purposes and that the borrowed debt is repaid according to the commitments in the credit contract.

c) Providing the Guarantor Party with complete documentation proving the disbursement of borrowed capital; inspecting and supervising the use of borrowed capital and assets formed from borrowed capital of the Guaranteed Party when requesting the Guarantor Party to fulfill the guarantee obligation.

d) Providing information and periodic or ad hoc reports on the implementation of guaranteed loans to the Guarantor Party and competent state agencies.

Chapter III
FINANCIAL MANAGEMENT, ACCOUNTING REGIME AND AUDITING

Article 20. Financial Management

1. The operating capital of the Guarantee Fund for Loan Projects must be used for its intended purpose and comply with current legal regulations.

2. Sources of income for the Guarantee Fund include:

a) Interest from deposits of the Guarantee Fund at the Guarantor.

b) Guarantee fees.

c) Compulsory interest received from the Guaranteed Party.

d) Other sources of income (if any).

3. Expenses of the Guarantee Fund include:

a) Commission fees paid to the Guarantor according to the Entrustment Contract signed between both parties.

b) Payment of salaries and allowances (if any) for staff involved in managing the Guarantee Fund.

c) Costs for management activities (evaluation, inspection, supervision, debt collection, communication...) and promotional activities (information dissemination...) of the Guarantee Fund.

d) Other expenditures.

4. The level and content of expenses shall be implemented in accordance with current regulations.

Article 21. Accounting System

1. All economic transactions related to the operation of the Guarantee Fund must be recorded in accounting books and accounted for in accordance with legal provisions and guidelines issued by the Ministry of Finance.

2. The fiscal year of the Guarantee Fund for Loan Projects runs from January 1 to December 31 of each calendar year.

3. The National Science and Technology Development Fund is responsible for organizing separate accounting for the activities of the Guarantee Fund and consolidating them into the final report of the unit, reporting to the Minister of Science and Technology and relevant agencies.

Article 22. Audit System

1. The activities of the Guarantee Fund are audited annually or at random together with the National Science and Technology Development Fund in accordance with current regulations applicable to the National Science and Technology Development Fund.

2. The National Science and Technology Development Fund is responsible for providing complete data and information on the activities and use of funds of the Guarantee Fund to the state audit agency.

Chapter IV
SUPERVISION, EVALUATION AND REGULAR REPORTING

Article 23. Supervision and Evaluation

1. Regular monitoring of the guarantee activities of the Guarantee Fund is the responsibility of the Director of the National Science and Technology Development Fund.

2. Annual reports on guarantee loan activities are part of the annual report on the activities of the National Science and Technology Development Fund.

Article 24. Regular Reporting System

1. The Director of the National Science and Technology Development Fund is responsible for evaluating the performance of the Guarantee Fund, reporting to the Minister of Science and Technology and relevant ministries.

2. Reports shall include the following contents:

a) Evaluation of the performance of the Fund during the reporting period.

b) Issues and difficulties encountered in the management and operation of the Guarantee Fund and their causes.

c) Plans for activities in the next year and recommendations.

Chapter V
IMPLEMENTING PROVISIONS

Article 25. Handling of Guarantees Issued Before June 30, 2011

1. The National Science and Technology Development Fund is responsible for receiving, inheriting, and continuing to manage all valid guarantees issued before June 30, 2011 within the framework of the Project "Improving Energy Efficiency in Small and Medium Enterprises in Vietnam" (PECSME) according to the Handover Protocol between the PECSME Project, Vietcombank, and the National Science and Technology Development Fund.

2. Guarantee fees continue to be implemented according to the signed guarantee contracts.

3. Repayment funds are sourced from the Guarantee Fund's capital and are carried out according to the "Management Agreement of the Guarantee Fund Program for Loan Projects for Energy Saving and Efficiency" and amendments to the Agreement signed between the Ministry of Science and Technology and Vietcombank on December 13, 2006 within the framework of the PECSME Project.

Article 26. Implementation and Effectiveness

1. The Director of the National Fund for Science and Technology Development shall be responsible for organizing and implementing this Circular.

2. This Circular shall take effect from July 1, 2011.

3. During the implementation process, if any issues arise or difficulties occur, it is requested that relevant agencies, organizations, and enterprises promptly report them in writing to the Ministry of Science and Technology for consideration and decision.