Decision No. 26/2006/QĐ-NHNN issues the Circular on Bank Guarantees, replacing and amending certain previous regulations on bank guarantees. This Decision shall take effect fifteen days from the date of publication in the Official Gazette.
Scope of application
Governor of the State Bank of Vietnam, Director of the Office, Heads of relevant Departments of the State Bank of Vietnam, Directors of provincial and centrally-administered city branches of the State Bank of Vietnam, Chairmen of Management Boards, General Directors (Directors) of credit organizations.
Key points
- The Governor of the State Bank of Vietnam issues the Circular on Bank Guarantees.
- This Decision shall take effect fifteen days from the date of publication in the Official Gazette.
🌐 Social impact of this document
- Positive impact: Improving the process of bank guarantees, creating favorable conditions for credit organizations and customers to carry out financial transactions.
- Negative impact: May increase management costs for credit organizations due to compliance with new regulations.
❓ Frequently asked questions
When does this Decision take effect?
This Decision shall take effect fifteen days from the date of publication in the Official Gazette.
Who are the responsible parties for implementing this Decision?
Director of the Office, Heads of relevant Departments of the State Bank of Vietnam, Directors of provincial and centrally-administered city branches of the State Bank of Vietnam, Chairmen of Management Boards, General Directors (Directors) of credit organizations.
Which Decisions does this Decision replace and amend?
This Decision replaces Decision No. 283/2000/QĐ-NHNN14 dated August 25, 2000, Decision No. 386/2001/QĐ-NHNN, Decision No. 1348/2001/QĐ-NHNN, Decision No. 112/2003/QĐ-NHNN, and Circular No. 02/TT-NHNN14 dated April 16, 1999.
What contents does the Circular on Bank Guarantees regulate?
This Decision issues the Circular on Bank Guarantees but does not specify the detailed contents of the Circular.
What is the implementation period of this Decision?
This Decision shall take effect fifteen days from the date of publication in the Official Gazette, without specifying a specific duration.
Full text
Pursuant to …;
On issuing the Bank Guarantee Regulation
_____________________
GOVERNOR OF THE STATE BANK OF VIETNAM
Pursuant to the Civil Code No. 33/2005/QH11 dated June 14, 2005;
Pursuant to the Law on the State Bank of Vietnam No. 01/1997/QH10 dated December 12, 1997; and the Law Amending and Supplementing Certain Articles of the Law on the State Bank of Vietnam No. 10/2003/QH11 dated June 17, 2003;
Pursuant to the Law on Credit Organizations No. 02/1997/QH10 dated December 12, 1997; and the Law Amending and Supplementing Certain Articles of the Law on Credit Organizations No. 20/2004/QH11 dated June 15, 2004;
Pursuant to the Foreign Exchange Decree No. 28/2005/PL-UBTVQH11 dated December 13, 2005;
Pursuant to the Governmental Decree No. 86/2002/NĐ-CP dated November 5, 2002 stipulating the functions, tasks, powers, and organizational structure of Ministries and ministerial-level agencies;
Pursuant to the Governmental Decree No. 52/2003/NĐ-CP dated May 19, 2003 stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;
Pursuant to the Governmental Decree No. 134/2005/NĐ-CP dated November 1, 2005 promulgating the Regulation on Borrowing and Repaying Foreign Debts;
At the proposal of the Director of the Credit Department.
Pursuant to …;
Article 1. The Bank Guarantee Regulation is hereby issued together with this Decision.
Article 2. The Standard Measurement Quality Control Department shall be responsible for organizing and guiding the implementation of the Regulations adopted herein.
This Decision replaces Decision No. 283/2000/QĐ-NHNN14 dated August 25, 2000 of the Governor of the State Bank of Vietnam on issuing the Bank Guarantee Regulation; Decision No. 386/2001/QĐ-NHNN dated April 11, 2001 of the Governor of the State Bank of Vietnam on amending and supplementing certain articles in the Bank Guarantee Regulation issued together with Decision No. 283/2000/QĐ-NHNN14 dated August 25, 2000 of the Governor of the State Bank of Vietnam; Decision No. 1348/2001/QĐ-NHNN dated October 29, 2001 of the Governor of the State Bank of Vietnam on amending certain provisions related to fees for guarantees provided by credit organizations; Decision No. 112/2003/QĐ-NHNN dated February 11, 2003 of the Governor of the State Bank of Vietnam on amending and supplementing certain articles of the Bank Guarantee Regulation issued together with Decision No. 283/2000/QĐ-NHNN14 dated August 25, 2000 of the Governor of the State Bank of Vietnam; Circular No. 02/TT-NHNN14 dated April 16, 1999 of the Governor of the State Bank of Vietnam guiding the guarantee for payment of import duties on consumer goods provided by credit organizations.
Article 3. The Heads of the Office, Directors of the Legal Department, Directors of the Credit Department, heads of units under the State Bank of Vietnam that are involved, Governors of provincial branches of the State Bank of Vietnam, Chairmen of the Board of Management, General Managers (Directors) of credit organizations are responsible for implementing this Decision./.
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