Circular No. 13/2002/TT-BTC guiding amendments and supplements to Circular No. 68/2000/TT-BTC dated July 13, 2000 of the Ministry of Finance detailing certain aspects regarding guarantees and agency issuance of government bonds.

CIRCULAR

ISSUED BY THE MINISTRY OF FINANCE DECREE NO. 13/2002/TT-BTC ON FEBRUARY 5, 2002 REGARDING GUIDELINES FOR AMENDING AND SUPPLEMENTING THE CIRCULAR
NUMBER 68/2000/TT-BTC DATED JULY 13, 2000
OF THE MINISTRY OF FINANCE GUIDING DETAILING CERTAIN POINTS
ON GUARANTEE AND DISTRIBUTION AGENCIES FOR GOVERNMENT BONDS TO PERFECT THE MECHANISM FOR THE ISSUE OF GOVERNMENT BONDS THROUGH GUARANTEE AND DISTRIBUTION AGENCY METHODS, THE MINISTRY OF FINANCE GUIDES THE AMENDMENT AND SUPPLEMENTATION OF CIRCULAR NO. 68/2000/TT-BTC DATED JULY 13, 2000 OF THE MINISTRY OF FINANCE GUIDING

IN DETAIL CERTAIN POINTS ON GUARANTEE AND DISTRIBUTION AGENCIES FOR GOVERNMENT BONDS I. PART II, SECTION II IS AMENDED AND COMPLEMENTED AS FOLLOWS: as follows:

1. REPLACE THE OLD POINT 1 WITH NEW POINT 1:
1. STRUCTURE OF GUARANTEED ISSUE OF GOVERNMENT BONDS:

The guaranteed issue of government bonds shall be carried out according to one of the following structures for guaranteed issuance:

1.1. A single guarantee issuing organization.

1.2. A combination

of guarantee issuance with one or several joint guarantors.

1.3. A combination of guarantee issuance including joint guarantors.

2. REPLACE THE OLD POINT 3 ON THE PROCEDURE FOR GUARANTEED ISSUE OF GOVERNMENT BONDS WITH NEW POINT 3: 2.1. REPLACE THE OLD POINT 3.1 WITH NEW POINT 3.1:

3.1. NOTICE OF CONTENT AND CONDITIONS OF THE ISSUE OF GOVERNMENT BONDS:

At least 30 days before the issuance of government bonds, based on the Decision on the Issue of Government Bonds by the Minister of Finance, the State Treasury Central Office sends "Notice of Content and Conditions of Government Bonds Issued Through Guarantee Method"

(attached as Appendix 02)

to the participants in the guarantee issuance of government bonds. Based on the Notice of Content and Conditions of Government Bonds from the State Treasury Central Office, the participants in the guarantee issuance of government bonds investigate the ability of investors to purchase government bonds through registration to buy government bonds

(attached as Appendix 06). 2.3. REPLACE THE OLD POINT 3.2 WITH NEW POINT 3.2: 3.2. REGISTRATION

FOR GUARANTEED ISSUE OF GOVERNMENT BONDS:

At least 15 days before the issuance of government bonds, based on the results of investor registrations to buy government bonds, the participants in the guarantee issuance

send Registration for Guaranteed Issue of Government Bonds (attached as Appendix 03) to the State Treasury Central Office, clearly stating: the volume of bonds guaranteed, list and amount registered to buy bonds by each investor, interest rate, guarantee fee... for the State Treasury Central Office to consider and select the guarantor organization for the issuance. 2.3. REPLACE THE OLD POINT 3.3 WITH NEW POINT 3.3: 3.3. AGREEMENT ON INTEREST RATE, GUARANTEE FEE, AND VOLUME OF BONDS GUARANTEED FOR THE ISSUE OF GOVERNMENT BONDS:

Based on the "Registration for Guaranteed Issue of Government Bonds," the State Treasury Central Office decides to choose those participants in the guarantee issuance whose registered amounts to buy bonds by investors reach a ratio of 50% or more compared to the volume of bonds guaranteed, with lower interest rates and guarantee fees to act as guarantors for the issuance and invite them to the State Treasury Central Office to negotiate about the interest rate, guarantee fee, volume of bonds guaranteed, and other related issues of the issuance.

2.4. REPLACE THE OLD POINT 3.4 WITH NEW POINT 3.4:

On the basis of 3.4. SIGN THE GUARANTEE CONTRACT FOR THE ISSUE OF GOVERNMENT BONDS: Based on the negotiation results with the guarantor organization, the State Treasury Central Office signs the "Guarantee Contract for the Issue of Government Bonds" with the sole guarantor organization or the main guarantor organization or each joint guarantor organization selected.

2.5. REPLACE THE OLD POINT 3.5 WITH NEW POINT 3.5:

3.5. ANNOUNCE THE ISSUE OF GOVERNMENT BONDS TO THE SECURITIES MARKET:

At least 7 days before the issuance of government bonds, based on the Guarantee Contract for the Issue of Government Bonds, the State Treasury Central Office and the organization

chosen as the guarantor for issuance cooperate with the Securities Trading Center, Stock Exchange to announce "The Announcement of the Issue of Government Bonds"

(attached as Appendix 05)

on the securities market. 2.6. REPLACE THE OLD POINT 3.6 WITH NEW POINT 3.6: 3.6. SELL GOVERNMENT BONDS TO INVESTORS:

With the Announcement of the Issue of Government Bonds and the signed Guarantee Contract for the Issue of Government Bonds with the State Treasury Central Office, the guarantor organization sells the government bonds that have been guaranteed to investors.

2.7. REPLACE THE OLD POINT 3.7 WITH NEW POINT 3.7: 3.7. DEPOSIT GUARANTEE FOR THE ISSUE OF GOVERNMENT BONDS:

On the basis of a) To ensure the transfer of funds for the guaranteed bonds to the State Treasury Central Office, before the issuance of government bonds, the guarantor organizations must deposit a minimum of 5% of the amount of guaranteed bonds into the account of the State Treasury Central Office opened at the State Bank.

b) The deposit amount will not accrue interest during the deposit period and can be deducted from the amount of guaranteed bonds transferred to the State Treasury Central Office or used to pay late payment penalties if the guarantor organization delays transferring the guaranteed bonds to the State Treasury Central Office.

2.8. AT POINT 3.8.b: REPLACE THE SEGMENT "The late payment penalty amount is deducted from the guarantor organization's account at the bank and is determined according to the following formula:" WITH "The late payment penalty amount is deducted from the guarantor organization's deposit and is determined according to the following formula:"

3. REPLACE THE OLD POINT 6 WITH NEW POINT 6:

6. RESPONSIBILITIES OF

GUARANTEE ISSUANCE:

6.1. The guarantor organization resells the guaranteed bonds to investors, while purchasing any remaining unsold bonds. 6.2. Manage records and perform registration, custody, and listing procedures for bonds at the Securities Trading Center, Stock Exchange for investors.

6.3. By the latest on the day of issuance of government bonds, the guarantor organization must submit "Report on Results of Selling Government Bonds" organization (attached as Appendix 11)

to the State Treasury Central Office.

II. THE ANNEXES ARE AMENDED AND COMPLEMENTED AS FOLLOWS:

1. REPLACE THE OLD ANNEX 02 WITH NEW ANNEX 02 ATTACHED. 2. REPLACE THE OLD ANNEX 03 WITH NEW ANNEX 03

3. AT ARTICLE 6, ANNEX 04: REPLACE THE OLD POINT 3 WITH NEW POINT 3:

1. Replace Old Appendix 02 with New Appendix 02 "attached.

2. Replace Old Appendix 03 with New Appendix 03 "attached.

3. In Article 6, Appendix 04: replace old Point 3 with new Point 3:

Notify the Issuer of the progress and results of bond sales when the Issuer requests.

4. Replace the old Appendix 05 with the new Appendix 05 "attached.

5. Replace the old Appendix 06 with Appendix 06 "attached.

6. Replace the old Appendix 07 with Appendix 07 "attached.

7. Add Appendix 11(annexed hereto).

III. IMPLEMENTATION

1. This Circular takes effect fifteen days from the date of signature. Other contents not guided in this Circular remain unchanged as prescribed in Circular No. 68/2000/TT-BTC dated July 13, 2000 of the Ministry of Finance.

2. Ministers, Heads of ministerial-level agencies and government-affiliated agencies, Chairmen of Provincial People's Committees directly under the central government shall be responsible for coordinating with the Ministry of Finance to implement this Circular.

3. The General Director of the State Treasury, Heads of units related to and affiliated with the Ministry of Finance have the responsibility to guide and organize the implementation of the provisions of this Circular./.

APPENDIX 02

NOTICE

CONTENTS AND TERMS OF GOVERNMENT BONDS
ISSUED UNDER GUARANTEE BATCH...

Pursuant to Decision No... dated... month... year... of the Minister of Finance, the State Treasury hereby notifies the contents and terms of Government Bonds issued under guarantee batch... as follows:

1. Quantity of bonds issued:

2. Term of bonds:

3. Form of bonds:

4. Face value of bonds:

5. Issue date of bonds:

6. Due date for bond repayment:

7. Method of principal and interest payment:

8. Other issues related to the issuance batch;

On the basis of the contents and conditions of issuance mentioned above organizations wishing to participate in guaranteeing the issuance of Government Bonds should submit a "Guarantee Issuance Registration for Government Bonds" (according to Model Appendix 03 attached to Circular No. 13/2002/TT-BTC dated February 5, 2002 of the Ministry of Finance) Scope of service activity State Treasury before... month... year... to proceed with the steps to prepare for guaranteeing the issuance of bonds./.

APPENDIX 03

REGISTRATION GUARANTEE ISSUE
GOVERNMENT BONDS BATCH...

Respectfully submitted to: State Treasury

1. Name organization accepting guarantee:

2. Trading name:

3. Main office:

4. Telephone: 2. Intellectual Property Rights Owner:

5. Place where deposit account is opened: Deposit account number:

6. Registered capital:

Request to be guaranteed the issuance of Government Bonds batch... with the following contents and conditions:

1. Quantity of bonds accepted for guarantee:

2. List and amount of bond subscriptions by each investor:

3. Ratio of the amount of bond subscriptions by investors to the quantity of bonds accepted for guarantee:

4. Bond interest rate:

5. Guarantee fee:

6. Other issues related to the issuance batch:

NAME OF JOINT STOCK

Head of the organization

(Signature, stamp)

APPENDIX 05

NOTICE

ISSUE OF GOVERNMENT BONDS
UNDER GUARANTEE BATCH...

The State Treasury hereby informs the detailed contents of Government Bonds issued under guarantee batch... as follows:

1. Quantity of bonds issued:

2. Term of bonds:

3. Interest rate on bonds:

4. Form of bonds:

5. Selling price of bonds:

6. Face value of bonds:

7. Issue date of bonds:

8. Due date for bond repayment:

9. Method of principal and interest payment:

10. Guarantee organizations, quantity of bonds accepted for guarantee by each organization:

11. Other issues related to the issuance batch:

(INVESTMENT ORGANIZATION NAME)

ISSUED UNDER
GUARANTEE BATCH... (For investors)

(Name of guarantee issuing organization)

Respectfully submitted to: 1. Name of organization (individual) purchasing bonds:

2. Business registration certificate or ID card (passport) number: ...,

(issuing authority)...issued on... day... month... year... 3. Address: 5. Registration to purchase Government Bonds

issued under guarantee batch... as follows:

4. Telephone: 2. Intellectual Property Rights Owner:

- Interest rate on bonds: - Quantity of bonds registered to purchase:

+ Certificate form (details according to each face value type):

+ Bookkeeping entry form:

- Other issues

related to the issuance batch

NAME OF ORGANIZATION (INDIVIDUAL) PURCHASING BONDS APPENDIX 07

CERTIFICATE OF OWNERSHIP

Head of the organization

(Signature, stamp)

HOLDER:…

Business registration certificate or ID card (passport) number…, (issuing authority)...issued on…day…month…year…

Ownership of Treasury Bonds: term…years; interest rate…%/year

Address: …

Amount: …

Issue date:…

Repayment date:…

Director of Capital Mobilization Department

In words:…

.......................................................................................................................

APPENDIX 11

RESULTS OF GOVERNMENT BOND SALES

- The quantity of bonds sold to investors is…dong, accounting for…% of the quantity of bonds accepted for guarantee.

REPORT

- The remaining quantity of bonds held by the guarantee issuing organization is…dong, accounting for…% of the quantity of bonds accepted for guarantee.
ISSUED UNDER GUARANTEE BATCH...

Respectfully submitted to: State Treasury

Specifically as follows:

Holder of bonds *

Number of Business Registration Certificate or ID Card

(passport)**

Head of the organization

(Signature, stamp)

Note:

* Bondholders include guarantors.

** CNĐKKD is an abbreviation for: Business Registration Certificate.