Decree No. 35/2007/ND-CP on electronic transactions in banking activities

DECREE
On electronic transactions in banking activities

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THE GOVERNMENT

Pursuant to the Law on Organization of the Government dated December 25, 2001;

Pursuant to the Law on the State Bank of Vietnam dated December 12, 1997; the Law Amending and Supplementing Certain Provisions of the Law on the State Bank of Vietnam dated June 17, 2003;

Pursuant to the Law on Credit Organizations dated December 12, 1997; the Law Amending and Supplementing Certain Provisions of the Law on Credit Organizations dated June 15, 2004;

Pursuant to the Law on Electronic Transactions dated November 29, 2005;

Pursuant to the Accounting Law dated June 17, 2003;

Considering the proposal of the Governor of the State Bank of Vietnam,

DECREE:

PART I
GENERAL PROVISIONS

Article 1. Scope of Regulation

This Decree stipulates on electronic transactions in banking activities.

Article 2. Applicability

This Decree applies to agencies, organizations, and individuals choosing to use or provide electronic transaction services in banking activities.

Article 3. Principles of electronic transactions in banking activities

1. Electronic transactions in banking activities must comply with the provisions of the Law on Electronic Transactions, this Decree, and other relevant laws.

2. This Decree only regulates the method of conducting transactions through electronic means in banking activities; the contents of banking activities are regulated by other laws.

3. Agencies, organizations, and individuals have the right to choose to conduct transactions through electronic means or traditional methods, except where otherwise provided by the Governor of the State Bank of Vietnam.

4. The provision of electronic services by the State Bank of Vietnam (hereinafter referred to as the State Bank) shall be carried out in accordance with the regulations of the State Bank but shall not contravene the provisions of the Law on Electronic Transactions, this Decree, and other relevant laws.

Chapter II
ELECTRONIC TRANSACTIONS IN BANKING ACTIVITIES

Article 4. Banking activities conducted through electronic means

Banking activities conducted through electronic means are those activities prescribed in Chapter III of the Law on the State Bank of Vietnam and in Chapter III of the Law on Credit Organizations; they do not apply to the issuance of bills of exchange and other negotiable instruments.

Article 5. Conditions for agencies, organizations, and individuals participating in electronic transactions in banking activities

1. Organizations providing electronic transaction services in banking activities must meet the following conditions:

a) Providing banking services in accordance with the law;

b) Having locations, communication networks, communication equipment, and electronic means ensuring the integrity and security of information, meeting requirements for exploitation, control, processing, use, storage, and archiving of electronic documents;

c) Having staff with sufficient qualifications and capabilities to meet technical and banking operational requirements.

2. Agencies, organizations, and individuals using electronic transactions in banking activities must meet the following conditions:

a) Committing to follow the procedures for electronic transactions established by the organization providing electronic transaction services;

b) Having an electronic signature in accordance with the law;

c) Establishing a method for sending and receiving electronic documents with the organization providing electronic transaction services.

Article 6. Organizations providing electronic signature certification services in banking activities

Organizations providing electronic signature certification services in banking activities shall operate in accordance with the Law on Electronic Transactions and Government Decrees guiding the implementation of the Law on Electronic Transactions regarding electronic signatures and electronic signature certification services.

Article 7. Use of electronic signatures in banking activities

1. Electronic signatures in banking activities include digital signatures and other types of electronic signatures as prescribed by law.

2. Agencies, organizations, and individuals have the right to agree and choose to use types of electronic signatures, except where the Governor of the State Bank has regulations on the use of electronic signatures in specific banking activities.

Chapter III
ELECTRONIC DOCUMENTS IN BANKING ACTIVITIES

Article 8. Content of electronic documents

1. The main contents of electronic documents in banking activities:

a) Name and number of the document;

b) Date of issuance of the document;

c) Name and address of the organization or individual issuing the document;

d) Name and address of the organization or individual receiving the document;

đ) Content of the transaction;

e) Signature, full name of the issuer and those related to the document according to the provisions of the law.

2. The content of electronic documents in accounting transactions, in addition to the contents prescribed in Clause 1 of this Article, must comply with the provisions of Article 17 of the Accounting Law.

3. In addition to the contents prescribed in Clauses 1 and 2 of this Article, electronic documents may contain additional information according to each type of transaction.

Article 9. Provisions on the format of electronic documents

The format of electronic documents must meet the following requirements:

1. Distinguishable, recognizable, and accessible for each electronic document.

2. Specify the detailed position, characteristics, type, length, and business constraints for each element on the electronic document.

3. Ensure automatic transmission, receipt, processing, preservation, and storage of electronic documents on electronic media.

Article 10. Principles for creating and controlling electronic documents

1. Create according to the correct procedure, format model, and all information prescribed in Clause 1 of Article 8 of this Decree.

2. The creator, controller, approver, and others signing on the electronic document must be responsible for the contents of the electronic document.

3. Must fully record the content of the electronic document as prescribed in Article 8 of this Decree.

Article 11. Creating, controlling, and signing electronic documents

1. An electronic document created from a paper document must be checked for consistency between the content of the electronic document and the paper document.

2. An electronic document created from another electronic document must ensure consistency with the original electronic document's content.

3. In cases where an electronic document is created and controlled through multiple steps, it must be checked:

a) The content of the electronic document at each step;

b) The electronic signature of the creator and controller at the previous step.

4. Those responsible for signing on the electronic document, including the creator, controller, approver, and others, must sign their electronic signature on the electronic document after completing their assigned tasks.

Article 12. Legal and valid electronic documents

An electronic document is considered legal and valid when it meets the following conditions:

1. Complying with the provisions of Articles 8, 9, 10, and 11 of this Decree.

2. Ensuring the integrity of the information on the document.

3. Ensuring legality through verification of the origin of creation.

Article 13. Encryption of electronic documents

The encryption of electronic documents shall be carried out in accordance with the provisions of the law on cryptography.

Article 14. Effective Date of Electronic Documents

The effective date of electronic documents shall be calculated from the time when such electronic documents meet the requirements stipulated in Article 12 of this Decree.

Article 15. Cancellation of Electronic Documents

1. An electronic document that is within its effective period and is cancelled must be marked with a specific symbol indicating that it has been cancelled; the reasons for cancellation must be recorded and stored separately using electronic means for monitoring purposes.

2. The cancellation of an electronic document during its effective period shall be carried out in accordance with the provisions of the law.

Article 16. Conversion of Electronic Documents to Paper Documents

1. Only electronic documents that satisfy the conditions set forth in Article 12 of this Decree may be converted into paper documents.

2. The conversion of electronic documents into paper documents must ensure the accuracy of the content between the electronic document and the paper document after conversion.

3. The person converting the electronic document into a paper document must sign and clearly write their name on the paper document; additional stamps must be affixed where required by regulations.

4. An electronic document that has been converted must be marked with a specific symbol for differentiation.

Article 17. Sending and Receiving Electronic Documents Again

1. Electronic documents may be sent or received again in the following cases:

a) Due to technical issues or previous sending or receiving attempts were unsuccessful;

b) Resent at the request of the recipient.

2. Sending and receiving electronic documents again must ensure security and no duplication.

3. The rules for sending and receiving electronic documents again apply to each type of banking transaction.

Article 18. Recording of Sending and Receiving Electronic Documents

The sending and receiving of electronic documents must be recorded electronically with the following basic information:

1. Location, time, place of sending,

2. Confirmation status of the electronic document if confirmation is required.

Article 19. Forms of Preservation and Storage of Electronic Documents

1. Electronic documents are preserved and stored using electronic means.

2. Organizations, institutions, and individuals have the right to choose and apply appropriate forms of preservation and storage of electronic documents suitable for their operational characteristics and technological application capabilities.

3. In necessary cases, the form of preservation and storage using electronic means can be converted to paper storage.

Article 20. Requirements for Preservation and Storage of Electronic Documents

Storing electronic documents must ensure:

1. Security, integrity, completeness, and non-alteration throughout the storage period.

2. Proper and sufficient storage duration for each type of document according to legal regulations.

3. Ability to print on paper or retrieve when requested.

Article 21. Conditions for Units Preserving and Storing Electronic Documents

Units entrusted with the task of preserving and storing electronic documents must meet the following conditions:

1. Have a plan for preserving and storing electronic documents using electronic means, which must be approved by the competent authority in accordance with legal regulations before implementation.

2. Maintain electronic equipment, technical facilities, storage locations, and establish technical procedures to ensure the preservation and storage of electronic documents meet usage requirements.

3. Store accompanying media to ensure the exploitation of electronic documents.

Article 22. Plan for the preservation and storage of electronic vouchers

The plan for the preservation and storage of electronic vouchers includes the following main contents:

1. Scope of preservation and storage.

2. Technical solutions for organizing the preservation and storage of electronic vouchers and ensuring security:

a) Selection of technology, technical equipment, and storage locations;

b) Organization of primary and backup storage systems;

c) Regular inspection and backup procedures;

d) Other necessary measures to ensure safety, rationality, scientific approach, prevention, and resolution of risks.

3. Technical procedures for preservation and storage:

a) Inputting electronic vouchers into storage;

b) Exploiting and using stored electronic vouchers;

c) Monitoring and supervising the security of stored electronic vouchers;

d) Implementing preventive and remedial measures against risks;

đ) Destroying electronic vouchers that have exceeded their retention period;

e) Other contents related to the technical handling of preservation and storage of electronic vouchers.

Article 23. Destruction of Electronic Vouchers

1. Destruction of electronic vouchers means making such vouchers inaccessible and unreferable to the information contained within them.

2. Electronic vouchers that have exceeded their retention period as prescribed shall be destroyed unless otherwise specified by competent state authorities.

3. The destruction of electronic vouchers must not affect the integrity of undestroyed data messages and the normal operation of the information system.

Article 24. Responsibilities of Organizations and Individuals Assigned Tasks for the Preservation and Storage of Electronic Vouchers

1. Implement the approved content of the plan for the preservation and storage of electronic vouchers.

2. Control electronic vouchers to ensure accuracy, consistency, and completeness before storing them.

3. Record logs regarding the location, time, and list of stored electronic vouchers with full signatures of those who carried out the tasks.

4. Be responsible for risks associated with stored electronic vouchers caused by their own negligence.

5. Be responsible for protecting the security and facilitating the exploitation and use of stored electronic vouchers.

6. Individuals assigned the task of preserving and storing electronic vouchers have the duty to:

a) Immediately report to the Head of the Unit to handle and promptly resolve any potential risks or actual risks concerning stored electronic vouchers;

b) Not allow any organization or individual to exploit or use stored electronic vouchers without the written consent of the Head of the Unit.

Chapter IV
RESOLUTION OF DISPUTES, COMPLAINTS, REPORTING, INSPECTION, AUDIT AND VIOLATION HANDLING

Article 25. Settlement of Disputes

Disputes related to electronic transactions in banking activities are resolved based on the provisions of the Law on Electronic Transactions, this Decree, other relevant laws, and the terms agreed upon in contracts between the parties.

Article 26. Complaints and Reports

Complaints against administrative decisions and actions related to electronic transactions in banking activities; reports to competent state authorities about violations related to electronic transactions in banking activities are handled according to the law on complaints and reports.

Article 27. Inspection and Supervision

1. State management agencies with competent authority shall be responsible for inspecting, supervising, detecting, and handling violations related to electronic transactions in banking activities.

2. Organizations and individuals participating in electronic transactions in banking activities shall be subject to inspection and supervision by state agencies with competent authority in accordance with the provisions of the law.

3. The inspection of organizations and individuals participating in electronic transactions in banking activities shall be carried out in accordance with the provisions of the law on inspection.

Article 28. Handling Violations

1. When an agency or organization participates in electronic transactions in banking activities and commits a violation of the law, it shall be administratively sanctioned or its operations suspended according to the provisions of the law, depending on the nature and severity of the violation.

2. When an individual participates in electronic transactions in banking activities and commits a violation of the law, they shall be disciplined, administratively sanctioned, or criminally prosecuted according to the provisions of the law, depending on the nature and severity of the violation.

3. Agencies, organizations, and individuals causing damage to other agencies, organizations, or individuals when participating in electronic transactions in banking activities must compensate according to the provisions of the law.

Chapter V
IMPLEMENTING PROVISIONS

Article 29. Effective Date

1. This Decree shall take effect fifteen days from the date of publication in the Official Gazette.

2. Previous regulations that conflict with the provisions of this Decree shall be abolished.

Article 30. Implementation Responsibility

1. The State Bank of Vietnam shall coordinate with relevant ministries and sectors to guide the implementation of this Decree.

2. Ministers, Heads of ministerial-level agencies, Heads of government-affiliated agencies, Chairpersons of provincial People's Committees under central city administrations, and related organizations and individuals shall be responsible for implementing this Decree./.