Consolidated Document number 35/VBHN-NHNN on the operation of credit information service provision

SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness ______________________

 

 

DECREE

Article 24Regulations on the provision of credit information services activities

 

Decree No. 58/2021/NĐ-CP dated June 10, 2021 of the Government stipulates on the provision of credit information services activities, effective from the date 15 August 1, 2021, amended and supplemented by:

Decree No. 133/2024/NĐ-CP dated October 21, 2024 of the Government amending and supplementing certain articles and appendices of Decree No. 58/2021/NĐ-CP dated June 10, 2021 of the Government stipulating on the provision of credit information services activities, effective from November 1, 2024.

Pursuant to the Law on Organization of the Government dated June 19, 2015; the Law Amending and Supplementing Certain Provisions of the Law on Organization of the Government and the Law on Organization of Local Administration dated November 22, 2019;

Pursuant to the Law on the State Bank of Vietnam dated June 16, 2010;

Pursuant to the Law on Credit Institutions dated June 16, 2010; the Law Amending and Supplementing Certain Articles of the Law on Credit Institutions dated November 20, 2017;

Pursuant to the Law on Enterprises dated June 17, 2020;

Pursuant to the Investment Law dated June 17, 2020;

At the proposal of the Governor of the State Bank of Vietnam;

The Government promulgates this Decree stipulating on the provision of credit information services activities.¹

 

PART I

GENERAL PROVISIONS

 

Article 1. Scope of Regulation

1. This Decree stipulates on the conditions, procedures for issuing, reissuing, changing contents, and revoking the Certificate of Eligibility for Credit Information Services Provision (hereinafter referred to as the Certificate); the provision of credit information services by credit information companies and the rights and obligations of related organizations and individuals.

2. The credit information activities of the State Bank of Vietnam (hereinafter referred to as the State Bank) are not within the scope of regulation of this Decree.The adjustment of this Decree.

Article 2. Applicability

1. Credit information company.

2. Participating organization.

3. Borrower.

4. Other related organizations and individuals.

Article 3. Explanation of Terms

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

1. Credit information is data, figures, facts related to borrowers at participating organizations of credit information companies.

2. The provision of credit information services is the act of credit information companies providing credit information products to users based on their activities of collecting, processing, storing credit information according to the provisions of this Decree.

3. Participating organizations of credit information companies (hereinafter referred to as participating organizations) are organizations voluntarily committing to provide credit information to credit information companies, including: credit institutions, foreign bank branches; non-credit institutions, foreign bank branches providing leasing services, deferred payment purchases, installment payments, pawnshops with interest rates, terms, rental fees, security measures in accordance with the law (hereinafter referred to as other participating organizations).

4. Borrowers are organizations or individuals granted credit by credit institutions, foreign bank branches or provided leasing services, deferred payment purchases, installment payments, pawnshops with interest rates, terms, rental fees, security measures in accordance with the law by other participating organizations.

5. A credit information company is a business established and operating in accordance with the Enterprise Law to provide credit information services as stipulated in this Decree. The company name must include the term "credit information".

6. Information infrastructure is a set of hardware, software, databases, network systems, and security systems to establish, transmit, collect, process, store, and exchange digital information serving one or more technical activities and credit information service provision activities of credit information companies.

7. Identifying information is customer identifying information of borrowers as prescribed by the Government regarding the confidentiality and provision of customer information of credit institutions, foreign bank branches.

8. Negative information about borrowers is credit information about bad debts, breach of payment obligations, violation of laws, being sued, indicted, and other unfavorable information affecting the borrower's evaluation results.

9. Credit information product is a report, publication, or other form containing credit information created by credit information companies based on collected credit information to be provided to users.

10. User is an organization or individual belonging to the user group that has agreed with the credit information company on the provision of credit information products.

Article 4. Principles of Operation in Providing Credit Information Services

1. A credit information company may only carry out activities to provide credit information services after being granted a Certificate by the State Bank.

2. The provision of credit information services must comply with legal regulations, ensuring honesty, objectivity, and not affecting the rights and legitimate interests of related organizations and individuals.

3. Agreements and commitments in the provision of credit information services stipulated in this Decree must be established in writing or in another form having equivalent legal value to a written document as prescribed by law.

4. A credit information company may only collect credit information of borrowing customers from participating organizations when the borrowing customer agrees to allow that participating organization to provide credit information to the credit information company according to Appendix I issued together with this Decree.

5. Principles for providing credit information products:

a) A credit information company shall provide credit information products in accordance with Article 21 of this Decree;

b) A credit information company may only provide credit information products containing identifiable information of borrowing customers to other participating organizations when the borrowing customer agrees to allow such organization to use the credit information product provided by the credit information company according to Appendix II issued together with this Decree, except in cases where the organization has been agreed upon by the borrowing customer as stipulated in Clause 4 of this Article;

c) A credit information company shall not provide credit information products containing identifiable information of borrowing customers to other organizations or individuals as stipulated in Point d, Clause 1 of Article 21 of this Decree.

Article 5. Principles for Using Credit Information Products

1. Credit information products shall be used for purposes specified in Clause 1 of Article 21 of this Decree. The user shall not modify the credit information product and shall bear responsibility for their own decisions when using the credit information product.

2. The user shall not provide credit information products to third parties, except for the entities specified in Point b, Clause 1 of Article 21 of this Decree.

3. Reproduction and internal use of credit information products by an organizational user must be consistent with the agreements made with the credit information company.

Article 6. Prohibited Acts in Providing Credit Information Services

1. Illegally collecting and providing information within the scope and list of state secrets.

2. Intentionally distorting the content of credit information, affecting the legitimate rights and interests of related organizations and individuals.

3. Exchanging credit information and providing credit information products to incorrect recipients, for incorrect purposes, or illegally.

4. Taking advantage of credit information service operations for personal gain, infringing upon the interests of the state, the rights, and legitimate interests of organizations and individuals.

5. Obstructing lawful activities of collecting and using credit information of organizations and individuals. The legality of organizations and individuals.

Article 7. Reporting on Activities in Providing Credit Information Services

1. A credit information company shall submit reports in writing directly to the State Bank or through postal services; or electronically to the State Bank the following reports:

a) Financial statements as prescribed by law;

b) Reports on operational status according to Appendix III issued together with this Decree;

c) Reports when significant technical incidents occur regarding the information infrastructure (such as hardware, software malfunctions; attacks on databases, network systems, security systems causing abnormal operation of the credit information company's information infrastructure) according to Appendix IV issued together with this Decree;

d) Reports when any of the following changes occur: management personnel, supervisory board members; number of participating organizations; agreements on the process of collecting, processing, storing, and providing credit information between the credit information company and participating organizations; information infrastructure according to Appendix IV issued together with this Decree.

2. Time limit for submitting reports:

a) The report as stipulated in Point a, Clause 1 of this Article shall be submitted periodically monthly, quarterly, or annually. Specifically, the monthly report shall be submitted before the 10th day of the month immediately following the reporting month; the quarterly report shall be submitted before the 20th day of the month immediately following the reporting quarter; the annual financial statement without audit shall be submitted within 30 days from the end of the fiscal year; the annual financial statement with audit shall be submitted within 90 days from the end of the fiscal year;

b) The report as stipulated in Point b, Clause 1 of this Article shall be submitted periodically quarterly or annually. Specifically, the quarterly report shall be submitted before the 20th day of the month immediately following the reporting quarter; the annual operational situation report shall be submitted within 30 days from the end of the reporting year;

c) The report as stipulated in Point c, Clause 1 of this Article must be reported immediately on the day the incident occurs. If the incident occurs during a regular holiday or public holiday, it must be reported on the first working day after the holiday;

d) The report as stipulated in Point d, Clause 1 of this Article must be submitted no later than seven working days from the date of change.

3. Time for finalizing report data:

a) For reports as stipulated in Points a and b, Clause 1 of this Article, the time for finalizing data shall be determined according to each reporting period corresponding to the accounting period as prescribed by the Accounting Law;

b) For reports as stipulated in Points c and d, Clause 1 of this Article, the time for finalizing report data shall be determined according to each content required to be reported when it arises or when there is a change.

Article 8. Competence of State Management Agencies

1. The State Bank shall implement state management over the provision of credit information services in accordance with the Law on the State Bank of Vietnam, including:

a) Drafting and submitting to competent state agencies for issuance, or issuing within its authority, normative legal documents on the provision of credit information services;

b) Issuing, reissuing, changing contents, and revoking the Certificate of Credit Information Company;

c) Inspecting and supervising the provision of credit information services by credit information companies.

2. Ministries, ministerial-level agencies, provincial People's Committees under central cities shall implement state management over credit information companies in accordance with the Enterprise Law and related laws.

 

Chapter II

CONDITIONS, PROCEDURES, AND FORMALITIES FOR ISSUING, REISSUING, CHANGING CONTENTS, AND REVOKING THE CERTIFICATE
CONTENT AND RECOVERY OF CERTIFICATES

 

Article 9. Conditions for Issuing the Certificate

1. Having an information infrastructure system meeting the following minimum requirements:

a) Having at least two data transmission lines, each from a different service provider;

b) Having an information infrastructure capable of integrating and connecting with the information systems of participating organizations;

c) Having a server system located in Vietnam, software solutions, and technical measures capable of providing credit information services to at least five million borrowers;

d) Having security plans ensuring information safety;

đ) Having disaster recovery plans ensuring that credit information service operations will not be interrupted for more than four working hours.

2. Having a minimum charter capital of thirty billion Vietnamese dong.

3. Having business managers and board members meeting the following requirements:

a) Business managers and board members must not be individuals convicted of serious crimes or higher, or individuals convicted of property offenses without having their criminal records expunged; business managers and board members of credit information companies whose Certificates have been revoked (except in cases where the Certificate was revoked according to points d, đ, and e, Clause 1, Article 14 of this Decree);

b) The Chairman of the Board of Directors, Chairman of the Board of Members, and the Company Chairman must hold a bachelor’s degree or higher and have at least three years of work experience in finance, banking, accounting, auditing, or information technology;

c) Board of Directors members, Board of Members members, and limited partners must hold a bachelor’s degree or higher, with at least fifty percent of members having at least three years of work experience in finance, banking, accounting, auditing, or information technology;

d) General Managers (Directors) and Deputy General Managers (Deputy Directors) must hold a bachelor’s degree or higher and have at least two years of managerial experience in enterprises operating in finance, banking, accounting, auditing, or information technology;

đ) Supervisory Board members must hold a bachelor’s degree or higher and have at least two years of work experience in finance, banking, accounting, auditing, or information technology.

4. Having a business plan ensuring that the company does not engage in other businesses outside of providing credit information services.

5. Having a minimum of fifteen participating organizations as credit institutions, foreign bank branches (excluding policy banks, cooperative banks, people's credit funds, and microfinance organizations). Participating organizations must not have agreements to provide credit information with other credit information companies.

6. Having an agreement on the provision of information and credit information products between the credit information company and participating organizations, which must include at least the following contents:

a) Content and scope of credit information provided;

b) Time, location, method of providing, transmitting, processing, and storing credit information and products;

c) Principles, scope, and purpose of using credit information products;

d) Obligation to notify and agree with borrowers regarding the use of their credit information;

đ) Responsibilities of all parties in correcting errors during the process of updating, transmitting, processing, storing, exploiting, and using credit information;

e) Responsibilities of all parties in reviewing, reconciling, inspecting, and maintaining the quality of credit information;

g) Responsibilities and cooperation of all parties when resolving errors in borrower credit information;

h) Handling violations and resolving disputes;

i) Effectiveness of the agreement and unilateral termination of the agreement;

k) Other rights and obligations of all parties during the process of collecting, processing, storing, and providing credit information.

Article 10. Principles for the preparation and submission of files

1. The file must be prepared in one set in Vietnamese. Foreign language components of the file must be legalized according to Vietnamese law (except where exempted from legalization under Vietnamese law on legalization) and translated into Vietnamese. Translations from foreign languages into Vietnamese must be notarized or certified by the translator's signature in accordance with Vietnamese law.

2.² For file components that are uncertified copies not issued from original records, the credit information company must present the original (in writing or in another form having equivalent legal value issued by the competent authority in accordance with Vietnamese law) for comparison; the comparator signs confirmation on the copy and is responsible for its accuracy compared to the original.

3. The file shall be submitted at the single-window department of the State Bank or through postal service to the State Bank.

Article 11. Procedures and formalities for issuing the Certificate

1. The credit information company prepares a file requesting the State Bank to issue the Certificate, including:

a) Application for issuance of the Certificate as per Appendix V promulgated together with this Decree;

b) Corporate charter (copy);

c) Contract with the service provider enterprise (copy);

d) Documentation regarding the registered capital (copy), including: Proof corresponding to the form of contribution: Confirmation by commercial banks or branches of foreign banks regarding the account balance for cash; valuation results by professional valuation organizations for other contributed assets in compliance with the Law on Prices, the Law on Enterprises, and related laws; or the most recent audited financial report relative to the time of filing;

đ) List and curriculum vitae of each individual who is a business manager or member of the Supervisory Board as per Appendix VI promulgated together with this Decree;

e) Criminal record sheet (copy) of each individual who is a business manager or member of the Supervisory Board:

For individuals with Vietnamese citizenship: Criminal record sheet issued by the criminal record management agency, which must include complete information about criminal history (including expunged and unexpunged criminal records) and information about prohibition from holding positions, establishing, and managing enterprises and cooperatives;

For individuals without Vietnamese citizenship: Criminal record sheet or equivalent document (with complete information about criminal history; information about prohibition from holding positions, establishing, and managing enterprises and cooperatives) must be issued by the competent authority of Vietnam or the competent authority of a foreign country in accordance with regulations. In cases where the criminal record sheet or equivalent document issued by a foreign authority does not contain information about prohibitions, the credit information company must provide an explanatory document regarding the absence of such information from the issuing authority and commit to bear legal responsibility for the individual not being prohibited from holding positions as stipulated by Vietnamese law;

The criminal record sheet or equivalent document must be issued by the competent authority within six months from the date the credit information company submits the application for the certificate;

g) Business plan as per Appendix VII promulgated together with this Decree;

h) Commitment document for providing credit information from participating organizations as per Appendix VIII promulgated together with this Decree;

i) Agreement document between the credit information company and participating organizations regarding the provision of information and credit information products (copy).

2. Within five working days from the date of receipt of the application file from the credit information company, the State Bank sends a letter to the credit information company requesting supplementary documentation if the application file is incomplete or non-compliant with the provisions of Clause 1 of this Article.

3. Within thirty working days from the date of receipt of a complete and compliant file, the State Bank issues the Certificate to the credit information company as per Appendix IX promulgated together with this Decree. If the Certificate is not issued, the State Bank sends a reply letter specifying the reasons.

Article 12. Procedure for Reissuing the Certificate

1. The credit information company shall request the State Bank to reissue the Certificate in the following cases:

a) The Certificate is lost;

b) The Certificate is torn or damaged.

2. The application dossier for reissuing the Certificate includes:

a) An application form for reissuing the Certificate according to Appendix X issued together with this Decree;

b) The torn or damaged Certificate (except in the case of loss).

3. Within three working days from the date of receipt of the application dossier of the credit information company, the State Bank shall send a letter to the credit information company requesting additional documents if the application dossier is incomplete or not in compliance with the provisions of Clause 2 of this Article.

4. Within ten working days from the date of receipt of the complete and valid application dossier of the credit information company, the State Bank shall examine and reissue the Certificate according to Appendix IX issued together with this Decree.

Article 13. Procedure for Amending the Content of the Certificate

1. The credit information company shall request the State Bank to amend the content of the Certificate in the following cases:

a) The name of the credit information company;

b) The business registration certificate;

c) Charter capital;

d) The location of the main office.

2. Within seven working days from the date the Decision revoking the License becomes effective:

2. When changing one or more pieces of information on the Certificate, the credit information company shall prepare an application dossier for amending the content of the Certificate to be sent to the State Bank, including:

a) An application form for amending the content of the Certificate according to Appendix X issued together with this Decree;

b) The resolution of the Shareholders' Meeting, Board of Directors, or Board of Members, or the Chairman of the company regarding the amendment of the content of the Certificate (original);

c) Documents and papers proving the continued maintenance of the conditions for operation in cases where the proposed changes to the content of the Certificate relate to the conditions for operation of the credit information company and are consistent with each condition stipulated in this Decree (copy).

3. Within five working days from the date of receipt of the application dossier of the credit information company, the State Bank shall send a letter to the credit information company requesting additional documents if the application dossier is incomplete or not in compliance with the provisions of Clause 2 of this Article.

4. Within fifteen working days from the date of receipt of the complete and valid dossier, the State Bank shall issue a Decision to amend the content of the Certificate according to Appendix XI issued together with this Decree (the Decision to amend the content of the Certificate is an inseparable part of the Certificate); in case of refusal, the State Bank shall send a reply letter stating the reasons.

Article 14. Procedure for Revoking the Certificate

1. The credit information company shall have its Certificate revoked by the State Bank in the following cases:

a) Fraud or forgery of documents proving the fulfillment of the conditions for obtaining the Certificate in the application dossier for issuing the Certificate;

b) Serious violation of any prohibited acts stipulated in Article 6 of this Decree;

c) Failure to maintain the conditions stipulated in Article 9 of this Decree after implementing the remediation plan as prescribed in Point b, Clause 2 of this Article;

d) Failure to commence operations providing credit information services within twelve months from the date of issuance of the Certificate;

đ) The credit information company implements dissolution in accordance with the provisions of the law;

e) The credit information company is divided, merged, or consolidated in accordance with Clause 4 of Article 15 of this Decree.

2. The State Bank shall carry out the revocation of the Certificate as follows:

a) In cases where the credit information company violates the provisions of Point a and Point b, Clause 1 of this Article, the State Bank shall decide to revoke the Certificate of the credit information company based on the inspection and supervision conclusions of the State Bank or the proposal of another competent authority;

b) In cases where the credit information company violates the provisions of Point c, Clause 1 of this Article, the State Bank shall require the credit information company to develop a remediation plan for the violations, submit it to the State Bank, and implement it within a maximum period of twelve months from the date the State Bank requests the credit information company to develop the remediation plan.

The State Bank shall decide to revoke the Certificate of the credit information company when assessing that the credit information company has not remedied the violations within one month from the end of the remediation period according to the remediation plan;

c) In cases where the credit information company violates the provisions of Point d, Clause 1 of this Article, the State Bank shall decide to revoke the Certificate of the credit information company within fifteen working days from the end date of the commencement of operations as stipulated in Clause 1 of Article 16 of this Decree;

d) In cases where the credit information company implements dissolution in accordance with the provisions of Point d, Clause 1 of this Article, the credit information company shall notify the State Bank in writing about the implementation of the dissolution of the enterprise and attach relevant documents within seven working days from the date of passing the dissolution decision or receiving the business registration certificate revocation decision or the dissolution decision of the Court as stipulated in the Enterprise Law.

The State Bank shall decide to revoke the Certificate of the credit information company within five working days from the date of receipt of the notification letter and relevant documents of the credit information company;

đ) In cases where the credit information company implements restructuring in accordance with the provisions of Point e, Clause 1 of this Article, the credit information company shall notify the State Bank in writing about the implementation of the restructuring of the enterprise and attach relevant documents within seven working days from the date of passing the resolution to divide the company or the merger agreement or the consolidation agreement as stipulated in the Enterprise Law.

The State Bank decides to revoke the Certificate of the credit information company within seven working days from the date of receipt of the notification document and related documents of the credit information company.

3. The State Bank issues a Decision to revoke the Certificate of the credit information company according to Appendix XII attached to this Decree. The credit information company must immediately cease its activities in providing credit information services and return the Certificate within seven working days from the date the Decision to revoke the Certificate takes effect.

4. Within ten working days from the date the Decision to revoke the Certificate takes effect, the credit information company whose Certificate has been revoked shall develop a plan for handling retained credit information at the credit information company in one of the following forms:

a) Transfer to another credit information company with the consent of participating organizations and without violating agreements with borrowing customers having credit information. The credit information company sends a notice of the transfer result to the State Bank within five working days from the end of the transfer process;

b) Transfer to the State Bank with the consent of participating organizations and without violating agreements with borrowing customers having credit information. The management and use of transferred credit information shall be carried out in accordance with the laws on credit information activities of the State Bank;

c) Organize the destruction itself, bear responsibility under the law for the completeness, security, and confidentiality of destroyed credit information, and send a notice of the destruction result to the State Bank within five working days from the end of the destruction process.

Article 15. Reorganization of Credit Information Companies

1. Credit information companies shall reorganize in accordance with the Enterprise Law and relevant laws.

2. New credit information companies resulting from business division; credit information companies that have been split or merged shall request the State Bank to issue a Certificate in accordance with Article 11 of this Decree.

3. Credit information companies changing their legal form; credit information companies that have been split or taken over shall request the State Bank to amend the contents of the Certificate in accordance with Article 13 of this Decree.

4. Credit information companies that have been divided, merged, or taken over shall have their Certificates revoked by the State Bank in accordance with Article 14 of this Decree.

Article 16. Commencement of Operations and Public Announcement of Information Regarding Issuance, Amendment, and Revocation of Certificates

1. Within a maximum period of twelve months from the date of issuance of the Certificate, the credit information company must commence operations in providing credit information services and submit a notice to the State Bank regarding the commencement of operations within five working days from the date the credit information company commences operations.

2. The credit information company shall publicize information related to the issuance, amendment of the Certificate on the State Bank's communication channels, the credit information company's communication channels, and at least three consecutive issues or seven consecutive working days on a central or local newspaper where the main office of the credit information company is located, or on a Vietnamese online newspaper, from the date the State Bank issues or approves the amendment of the Certificate.

3. In cases where the conditions for operating credit information service provision are not met as stipulated in Clause 3, Article 11 of this Decree, the State Bank shall notify the business registration authority where the credit information company's main office is located.

4. The State Bank shall announce the Decision to revoke the Certificate of the credit information company on its communication channels and send it to the business registration authority where the credit information company's main office is located.

 

Chapter III

PROVIDING CREDIT INFORMATION SERVICES

 

Article 17. Internal regulations

1. Based on the provisions of this Decree and relevant laws, credit information companies shall establish and promulgate internal regulations for their credit information service activities, ensuring control mechanisms for each process and emergency handling plans.

2. The internal regulations regarding credit information service activities of credit information companies must include at least the following contents:

a) Regulations on credit information service activities, including measures to verify the validity of collected credit information as stipulated in Point d, Clause 1, Article 18 of this Decree and regulations on refusing to provide credit information products to users as stipulated in Clause 2, Article 21 of this Decree;

b) Regulations on confidentiality and information technology security in credit information service activities, including at least the contents on physical and installation environment safety assurance; operation management and information exchange; access management; third-party information technology service management (if applicable); incident management; continuous system operation assurance; internal audit and reporting procedures;

c) Regulations on authority delegation, responsibility management and supervision of each individual manager, member of the Supervisory Board; specific department and individual in implementing credit information service activities, particularly regulations on management and supervision related to credit information security and confidentiality;

d) Regulations on correcting errors in credit information, including at least the contents on correction procedures, responsibilities of each individual and department in error correction and retention of related documentation;

đ) Regulations on handling credit information when the credit information company has its Certificate revoked according to Clause 4, Article 14 of this Decree, including at least the contents on handling methods; implementation procedures (including notification methods and obtaining consent from participating organizations); responsibilities of departments and individuals in organizing and implementing; monitoring and securing information during the process;

3. Internal regulations must be reviewed and evaluated every six months or at any time regarding their appropriateness, compliance with legal provisions, and necessary amendments and supplements.

Article 18. Collection of Credit Information

1. Credit information companies collect credit information from:

a) Participating organizations under agreements and commitments to provide credit information;

b) Other credit information companies pursuant to agreements with credit information companies;

c) State agencies as prescribed by law;

d) Other lawful sources as prescribed by law.

2. Collected credit information includes:

a) Customer identification information and related parties' information as prescribed by current laws;

b) Information on credit provision history, leasing, deferred payment purchases, installment payments, pawn transactions;

c) Information on repayment history, overdue amounts, due dates, credit limits, debt classification, debt sale, off-balance sheet commitment performance, and customer credit rating results;

d) Information on collateral for fulfilling debt repayment obligations;

đ) Other related information that does not violate customers' legal rights, excluding state secrets-related customer information;

3. The credit information specified in Clause 2 of this Article does not include information on risk reserve usage to address risks associated with credit provision by financial institutions and foreign bank branches.

Article 19. Processing Credit Information

1. Based on the collected and stored credit information sources, the credit information company shall analyze, evaluate, and synthesize the information to create credit information products.

2. The process of checking, classifying, and updating credit information must ensure that it does not distort the nature or content of the credit information.

3. Negative information about borrowers may only be used to create credit information products for a maximum period of five years from the date the negative information ends, except where otherwise provided by law.

Article 20. Retention of Credit Information

1. Credit information must be securely retained, kept confidential, protected against potential incidents and disasters, and prevented from illegal access from external sources.

2. Credit information must be retained for a minimum of five years from the date the credit information company collects it.

Article 21. Provision of Credit Information Products

1. The credit information company provides credit information products to the following users:

a) Organizations participating to serve the needs of searching for borrowers, evaluating borrowers, and other lawful purposes as prescribed by law;

b) Borrowers who are provided with credit information products about themselves for their lawful purposes;

c) Other credit information companies to collect credit information according to Article 18 of this Decree for the provision of credit information services;

d) State management agencies with authority to serve state management purposes as prescribed by law;

e) Other organizations and individuals to serve lawful purposes as prescribed by law.

2. After reaching an agreement with the users specified in Clause 1 of this Article, the credit information company has the right to refuse to provide credit information products and notify the user in writing of the reasons for refusal (with relevant documents if any) at least twenty working days before ceasing to provide the credit information product, upon discovering that the user violates the signed agreement, provisions of this Decree, and related laws.

Article 22. Correction of Errors in Borrower Credit Information

1. The credit information company shall implement corrections in the following cases:

a) The credit information company discovers errors in credit information and corrects them according to its internal regulations;

b) Participating organizations discover errors in credit information and submit a written request for correction to the credit information company along with relevant documents. The credit information company must notify the participating organization in writing of the results of the error correction within a maximum of five working days from the date of receipt of the participating organization's written request for correction, through direct delivery; postal service; or other electronic means;

c) Borrowers discover errors in credit information and submit a written request for correction to the credit information company or participating organizations along with relevant documents. The credit information company or participating organizations must notify the borrower in writing of the processing and results of the error correction within a maximum of five working days from the end of the correction process as stipulated in Clause 2 of this Article, through direct delivery; postal service; or other electronic means.

2. The credit information company shall implement corrections requested by borrowers as follows:

a) In cases where errors arise from the credit information company's information processing, the credit information company shall correct the errors within a maximum of five working days from the date of receipt of the borrower's written request for correction;

b) If the credit information company determines that errors arise from information collected from participating organizations, the credit information company shall notify the borrower in writing about the processing (specifying the source of the error) within a maximum of five working days and cooperate with the participating organization to correct the error within a maximum of ten working days from the date of receipt of the borrower's written request for correction.

3. If the borrower does not receive a response within the time frame specified in Clause 2 of this Article or disagrees with the content of the credit information company's response, the borrower has the right to request mediation or initiate arbitration or court proceedings as prescribed by law.

 

Chapter IV

RIGHTS AND OBLIGATIONS OF ORGANIZATIONS AND INDIVIDUALS

 

Article 23. Rights and Obligations of the User Object

Implement rights and obligations pursuant to agreements with credit information companies as stipulated in this Decree and relevant laws.

Article 24. Rights and Obligations of Credit Information Companies

1. Rights of credit information companies

a) Exchange credit information with other credit information companies in accordance with this Decree and relevant laws;

b) Enter into contracts with organizations and individuals regarding the collection, provision of credit information and charging for credit information products as stipulated in this Decree and relevant laws.

2. Obligations of credit information companies

a) Ensure principles, conditions, and contents of credit information service provision throughout their operations;

b) Advise the user object on the principles of using credit information products;

c) Cooperate with participating organizations to detect and handle errors in credit information; resolve adjustment documents for credit information errors according to borrowers' requests;

d) Publicly display pricing for credit information products in accordance with the Law on Prices and relevant laws;

đ) Publish information in accordance with the Law on Enterprises, this Decree, and relevant laws.

3. Perform other rights and obligations as agreed with organizations and individuals and as stipulated in this Decree and relevant laws.

Article 25. Rights and Obligations of Participating Organizations

1. Right to use credit information products from credit information companies as stipulated in this Decree and relevant laws.

2. Obligations of participating organizations

a) Provide complete, accurate, and timely credit information to credit information companies as agreed with such companies;

b) Cooperate with credit information companies to detect and handle errors in collected, stored, and provided credit information; resolve adjustment documents for credit information errors of borrowers.

3. Perform other rights and obligations as agreed with credit information companies and as stipulated in this Decree and relevant laws.

Article 26. Rights and Obligations of Borrowers

1. Rights of borrowers

a) Be provided free of charge at least once a year with credit information about themselves by credit information companies (if requested);

b) Request credit information companies to review and adjust the content of their own credit information if errors are found and report the results of such adjustments to participating organizations.

2. Borrowers have the obligation to provide complete and truthful credit information about themselves to related organizations and individuals during the process of handling documents requesting corrections to credit information errors.

3. Perform other rights and obligations as stipulated in this Decree and relevant laws.

 

Chapter V

IMPLEMENTING PROVISIONS³

 

Article 27. Transitional Provisions

1. From the date this Decree takes effect, the provisions in Clause 4, Point b Clause 5, Article 4 of this Decree shall not have retroactive effect on the collection of credit information and the provision of credit information products by credit information companies.

2. Within two months from the date this Decree takes effect, credit information companies established and operating before the effective date of this Decree must submit reports to the State Bank on meeting the conditions for obtaining the Certificate of Eligibility as prescribed in Article 9 of this Decree and commit to legal responsibility for the content of the report.

a) In case of compliance with the conditions, credit information companies may continue to operate credit information services under the Certificate of Eligibility for Credit Information Activities issued by the State Bank and as stipulated in this Decree.

b) In case of non-compliance with one or more conditions, credit information companies must report plans to meet the conditions within a maximum period of 24 months from the date this Decree takes effect.

Credit information companies that meet the conditions prescribed in Article 9 of this Decree after the completion of the plan period may continue to operate credit information services under the Certificate of Eligibility for Credit Information Activities issued by the State Bank and as stipulated in this Decree.

Credit information companies that fail to meet the conditions prescribed in Article 9 of this Decree after the completion of the plan period, the State Bank will revoke the Certificate of the credit information company in accordance with Clause 3, Article 14 of this Decree.

3. Within six months from the date this Decree takes effect, credit information companies established and operating before the effective date of this Decree must issue internal regulations in accordance with Article 17 of this Decree and submit these internal regulations to the State Bank.

4. For agreements and commitments signed before the effective date of this Decree, credit information companies may continue to implement them until their expiration dates and cannot be extended. Any amendments or supplements to these agreements and commitments can only be made if they comply with the provisions of this Decree and relevant laws.

Article 28. Effective Date

1. This Decree takes effect from August 15, 2021.

2. Repeal Article 4 of Government Decree No. 16/2019/NĐ-CP dated February 1, 2019, amending and supplementing certain articles of decrees regulating business conditions under the management of the State Bank of Vietnam.

3. The Government Decree No. 10/2010/NĐ-CP dated February 12, 2010, on credit information activities; and the Government Decree No. 57/2016/NĐ-CP dated July 1, 2016, amending and supplementing Article 7 of the Government Decree No. 10/2010/NĐ-CP dated February 12, 2010, on credit information activities shall cease to be effective from the date this Decree takes effect.

Article 29. Implementation Organization

The Ministers, Heads of ministerial-level agencies, Heads of government agencies; Chairpersons of People's Committees of provinces and centrally governed cities; Chairpersons of Boards of Directors, Chairpersons of Members' Councils and General Directors (Directors) of credit organizations, branches of foreign banks; Chairpersons of Boards of Directors, Chairpersons of Members' Councils, Chairpersons of companies and General Directors (Directors) of credit information companies and related organizations and individuals are responsible for implementing this Decree.

 

 

^{__________________________________}

¹ Decree No. 133/2024/ND-CP amending and supplementing certain articles and appendices of Decree No. 58/2021/ND-CP dated June 10, 2021 of the Government on the operation of providing credit information services is based on the following grounds:

“On the basis of Law on Government Organization dated June 19, 2015;  November 22, 2019; November 22, 2019;

On the basis of Law on the State Bank of Vietnam dated June 16, 2010;

On the basis of Law on Credit Organizations January 18, 2024;

On the basis of Enterprise Law June 17, 2020;

On the basis of Investment Law June 17, 2020;

At the proposal of the Governor of the State Bank of Vietnam;

The Government promulgates a Decree amending and supplementing certain articles and appendices of Decree No. 58/2021/ND-CP dated June 10, 2021 of the Government on the operation of providing credit information services (hereinafter referred to as Decree No. 58/2021/ND-CP).”

² This clause has been amended according to the provisions of Clause 1, Article 1 of Decree No. 133/2024/ND-CP amending and supplementing certain articles and appendices of Decree No. 58/2021/ND-CP dated June 10, 2021 of the Government on the operation of providing credit information services, which takes effect from November 1, 2024.

³ Article 2 of Decree No. 133/2024/ND-CP amending and supplementing certain articles and appendices of Decree No. 58/2021/ND-CP dated June 10, 2021 of the Government on the operation of providing credit information services, which takes effect from November 1, 2024, is stipulated as follows:

“Article 2. Implementation clause

1. This Decree shall take effect from November 1, 2024.

2. Applications for the State Bank of Vietnam to issue certificates of eligibility to provide credit information services submitted before the date this Decree takes effect shall continue to be examined and processed in accordance with the laws applicable at the time of submission of the application.”

 

ANNEX I

(Attached to Decree No. 58/2021/ND-CP
dated June 10, 2021 of the Government)

^{______________}

 

CONTENTS OF THE AGREEMENT ON PROVIDING CREDIT INFORMATION
TO THE CREDIT INFORMATION COMPANY

 

Based on the Government's regulations on the provision of credit information services and other relevant laws, the participating organization and the borrower discuss and agree to sign an agreement to implement the provision of credit information to the credit information company with the following minimum contents (The two parties may agree to supplement other contents in accordance with the law):

1. Party A: Owner of credit information

a) For individual borrowers, including the following information: Full name; ID number/passport number; place of residence; phone number/fax/email.

b) For corporate borrowers, including the following information: Name of organization; registration number and date of business registration certificate (if available); main office location; legal representative.

2. Party B: Participating organization including the following information: Name of organization; registration number and date of business registration certificate (if available); main office location; legal representative.

3. Agreement contents include:

a) Party A agrees to allow Party B to provide Party A's credit information to the credit information company that Party B is currently participating in (or intends to participate in).

b) Party B is responsible for notifying Party A about the credit information company mentioned in point a of this clause (including: Name of credit information company; registration number and date of business registration certificate and other related information) at least at the following time points:

- At the time of signing this agreement (if there is information);

- Within a maximum of 10 working days from the date Party B commits to providing credit information to a credit information company.

c) Content of credit information provided and the implementation of providing credit information by Party B to the credit information company (ensuring compliance with the Government's regulations on the provision of credit information services and other relevant laws).

d) When the credit information company (mentioned in point b of this clause) has its certificate revoked, Party B will stop providing Party A's credit information to the credit information company and Party A agrees that Party A's credit information at the credit information company will be handled in accordance with the Government's regulations on the provision of credit information services.

Party B is responsible for notifying Party A about the handling of Party A's credit information within a maximum of 10 working days from the date Party B receives notification from the credit information company regarding the plan for handling credit information.

e) Other contents agreed upon by the two parties.

 

ANNEX II

(Attached to Decree No. 58/2021/ND-CP
dated June 10, 2021 of the Government)

^____________

 

CONTENTS OF THE AGREEMENT ON THE CREDIT INFORMATION COMPANY PROVIDING CREDIT INFORMATION PRODUCTS
TO THE PARTICIPATING ORGANIZATION

 

Based on the Government's regulations on the provision of credit information services and other relevant laws, the participating organization and the borrower discuss and agree to sign an agreement on the credit information company providing credit information products containing identifiable information of the borrower to the participating organization with the following minimum contents (The two parties may agree to supplement other contents in accordance with the law):

1. Party A: Owner of credit information

a) For individual borrowers, including the following information: Full name; ID number/passport number; place of residence; phone number/fax/email.

b) For corporate borrowers, including the following information: Name of organization; registration number and date of business registration certificate (if available); main office location; legal representative.

2. Party B: Party requiring the provision of credit information including the following information: Name of organization; registration number and date of business registration certificate (if available); main office location; legal representative.

3. Agreement contents include the following:

a) Party A agrees to allow Party B to obtain credit information products containing identifiable information of Party A from the credit information company (information of the credit information company includes: Name of credit information company; registration number and date of business registration certificate).

b) Content of credit information provided and the use of credit information products containing identifiable information of Party A provided by the credit information company (ensuring compliance with the Government's regulations on the provision of credit information services and other relevant laws).

4. Other contents agreed upon by the two parties.

 

ANNEX III

SAMPLE REPORT ON OPERATIONAL STATUS

(Attached to Decree No. 58/2021/ND-CP
dated June 10, 2021 of the Government)

^{_____________}

 

COMPANY NAME OF CREDIT INFORMATION ______    No.: …./….

SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness _______________________ …, day ... month ... year ...

 

 

REPORT
    OPERATIONAL STATUS
    (Quarter... Year...) or (Year...)

 

Respectfully submitted to: State Bank of Vietnam.

 

I. IMPLEMENTATION STATUS OF ACTIVITIES PROVIDING CREDIT INFORMATION SERVICES

1. Product list, structure.

2. Detailed list of information sources collected.

3. List of organizations participating in the commitment to provide information.

4. Classification and quantity of borrowers by borrower groups.

5. Quantity of products provided for each user group.

6. Operation status of technological equipment, ensuring data security.

7. Other contents (if any).

II. PROPOSALS AND PETITIONS TO THE STATE BANK OF VIETNAM

 

LEGAL REPRESENTATIVE (Signature, stamp)

 

ANNEX IV

INFORMATION SECURITY INCIDENT REPORT/CHANGE IN INFORMATION

(Attached to Decree No. 58/2021/ND-CP
 (June 10, 2021, Government)

 

 

COMPANY NAME OF CREDIT INFORMATION ______ No.: …./….

SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness ______________________ …, day ... month ... year ...

 

 

INFORMATION SECURITY INCIDENT REPORT/CHANGE IN INFORMATION

 

Respectfully submitted to: State Bank of Vietnam.

 

I. INFORMATION ON INFORMATION SECURITY INCIDENTS OR CHANGE IN INFORMATION

1. Description of incident/or content of information change

- Description of incident involving hardware or software failure, network attack... causing the system to become unreliable and operate abnormally.

- Content of change: management personnel of the enterprise, members of the Supervisory Board; agreement on procedures for collecting, processing, storing, and providing credit information between the Credit Information Company and participating organizations; infrastructure for information technology.

- Other content (if any).

2. Measures taken:

II. PROPOSALS AND PETITIONS TO THE STATE BANK OF VIETNAM

 

LEGAL REPRESENTATIVE (Signature, stamp)

 

 

ANNEX V

APPLICATION FOR ISSUANCE OF CERTIFICATE OF ELIGIBILITY
PROVIDING CREDIT INFORMATION SERVICES

(Attached to Decree No. 58/2021/ND-CP
 (June 10, 2021, Government)

 

ENTERPRISE …(1) _______ Number: ……

SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness _____________________ …, day ... month ... year ...

 

 

APPLICATION FOR ISSUANCE OF CERTIFICATE OF ELIGIBILITY FOR OPERATING
CREDIT INFORMATION SERVICES

 

Respectfully submitted to: State Bank of Vietnam.

 

Pursuant to Decree No. …/……/ND-CP dated ... month ... year ... of the Government on the operation of credit information services, Enterprise ...(1) requests the State Bank of Vietnam to consider issuing a Certificate of Eligibility for Operating Credit Information Services as follows:

1. Name of the credit information company:

- Full name in Vietnamese: …

- Abbreviation in Vietnamese (if any): …

- Full name in English (if any): …

- Abbreviation in English (if any): …

- Trading name (if any): …

2. Registration number and date of issuance of the Business Registration Certificate: ,…

3. Legal representative: …Position: ,…

4. Head office location, telephone number, fax number, email: …

5. Scope of activities: …

6. Registered capital: …

7. Frozen account opened at Commercial Bank Branch …

- Account number: …

- Amount deposited: …

After being issued the Certificate of Eligibility for Operating Credit Information Services, we will commence operations and announce information in accordance with the provisions of the law.

We commit to strictly comply with all laws, regulations of the State Bank of Vietnam, and the Articles of Association of the Credit Information Company, and accept responsibility under the law if there is any violation.

 

Place of Receipt: - As above; - File: VT Attached Documents: List the documents specified in Article 11 of this Decree.

LEGAL REPRESENTATIVE (Signature, stamp)

 

Note:

(1) Name of the credit information company.

 

ANNEX VI

SAMPLE LIST OF MANAGEMENT PERSONNEL OF THE ENTERPRISE,
MEMBERS OF THE SUPERVISORY BOARD AND BRIEF CURRICULUM VITAE

(Attached to Decree No. 58/2021/ND-CP
dated June 10, 2021 of the Government)

^{______________}

 

ENTERPRISE …(1)         ________

SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness _____________________

 

LIST OF MANAGEMENT PERSONNEL AND MEMBERS OF THE SUPERVISORY BOARD
Full name (2)

 

Serial number	Position (3)	Chairman of the Board...
1		Member of the Board...
2		Head of the Supervisory Board
3		Branches of Commercial Joint Stock Banks, Credit Cooperatives, Credit Guarantee Fund, and Basic Credit Cooperatives
4		Deputy Chief
5		Other positions as stipulated in the Articles of Association
6		Members of the Audit Committee
...		Brief curriculum vitae of individuals listed in this form, following the guidelines in this Sample.

 

Place of Receipt: - As above; - File: VT Attached: (2) List of management personnel and members of the Supervisory Board at the time of submitting the application.

LEGAL REPRESENTATIVE (Signature, stamp)

 

 

Note:

(1) Name of the credit information company.

(3) Positions of management personnel and members of the Supervisory Board at the Credit Information Company.

About oneself

 

SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
^{______________________}

 

BRIEF CURRICULUM VITAE

 

1.4 - Date of birth a) For Vietnamese citizens: - Full name - Identity card number or personal identification number - Place of birth (4) - Nationality (current nationalities) (4) - Permanent residence address (4)

Passport photo (4x6)

- Current place of residence (different from permanent residence address) (4)

- Name, address, and tax code of the organization represented, percentage of contributed capital, shares represented (if acting as a representative of contributed capital or shares)

- Spouse, biological parents, biological children of the declarant (Full name, Identity card number or personal identification number (for Vietnamese citizens); Passport number or substitute travel document, date of issue, place of issue (for non-Vietnamese citizens))

b) For non-Vietnamese citizens:

- Passport number or substitute travel document, date of issue, place of issue

- Full name

- Identity card number or personal identification number

- Place of birth

- Nationality (current nationalities)

- Address registered on passport or substitute travel document (province/city, district/county, ward/township)

- Current place of residence in Vietnam (province/city, district/county, ward/township) (if applicable)

- Name, address, and tax code of the organization represented, percentage of contributed capital, shares represented (if acting as a representative of contributed capital or shares).

Name of school; name of city, country where the school is located; name of course; period of study; name of degree (list all relevant degrees and training programs related to the qualifications and conditions for the position to be elected or appointed and copies of diplomas and certificates).

2. Educational qualifications

- Work experience, profession, and previous positions held (from age 18 to present), where, what, briefly describe the main characteristics (attach supporting documents proving the position and working period consistent with the conditions stipulated in Clause 3, Article 9 of this Decree).

3. Work experience

- Current position held at the Credit Information Company and other organizations.

- Workplace; position; main responsibilities (list workplaces and positions held at these workplaces ensuring continuity over time).

Legal commitment

- Awards and disciplinary actions (if any).

4.⁵ - I, …, hereby commit not to violate any laws and the Articles of Association of the Credit Information Company……(1)

- I hereby confirm that the above declarations are true. I fully accept responsibility for any information that does not correspond to the truth in this declaration. 

……, day ... month ... year ...

 

(Signature, full name) Declaration Maker - (4) Only required when the staff receiving the application cannot extract the information from the National Population Database.

 

Remarks⁶:

- In addition to the basic contents above, the declarant may supplement other contents if deemed necessary.

- In addition to the basic contents above, the declarant may supplement other contents if deemed necessary.

 

 

^{______________________________}

⁴ This Section has been amended pursuant to Clause 2 of Article 1 of Decree No. 133/2024/NĐ-CP. Decree No. 133/2024/NĐ-CP-amending and supplementing certain provisions and appendices of Decree No. 58/2021/NĐ-CP dated June 10, 2021 of the Government on the operation of credit information service provision, which shall take effect from November 1, 2024.

⁵ This Section has been amended pursuant to Clause 2 of Article 1 of Decree No. 133/2024/NĐ-CP amending and supplementing certain provisions and appendices of Decree No. 58/2021/NĐ-CP dated June 10, 2021 of the Government on the operation of credit information service provision, which shall take effect from November 1, 2024.

⁶ This Section has been amended pursuant to Clause 2 of Article 1 of Decree No. 133/2024/NĐ-CP amending and supplementing certain provisions and appendices of Decree No. 58/2021/NĐ-CP dated June 10, 2021 of the Government on the operation of credit information service provision, which shall take effect from November 1, 2024.

 

ANNEX VII

BUSINESS PLAN TEMPLATE

(Attached to Decree No. 58/2021/ND-CP
dated June 10, 2021 of the Government)

^_________

 

ENTERPRISE …(1) ______ No.: ….

SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness _______________________ …, day… month… year…

 

 

BUSINESS PLAN

 

Pursuant to Decree No. …/……/NĐ-CP dated ... month ... year ... of the Government on the operation of credit information service provision, Enterprise (1)... establishes the Business Plan for the operation of credit information service provision as follows:

1. The necessity of establishing a company.

2. Company name, main office location, duration of operation, registered capital at establishment, scope of activities (no other business operations except for credit information service provision).

3. Corporate management structure, members of the Supervisory Board

a) Organizational chart of the company's operational machinery;

b) Anticipated personnel for each position of corporate managers and Supervisory Board members.

4. Risk Management Capability

a) Types of risks expected to arise during the course of operations (operational risk, ethical risk, market risk);

b) Ability to implement preventive and control measures for the types of risks arising during the operation of credit information service provision.

5. Information Infrastructure

a) List and description of the information infrastructure;

b) Financial investment forecast for the information infrastructure;

c) Description of the ability to apply information technology, types of technology anticipated to be applied throughout the process from data collection, processing, product creation to transmission and storage of information data; anticipated staff and their capabilities in applying information technology;

d) Software systems and technical solutions to organize and encode databases to meet security and information safety requirements, protecting data;

đ) Disaster recovery system capable of ensuring continuous technological operations of the credit information company with the shortest possible downtime.

6. Capability to collect, process, store credit information, create and provide credit information products

a) Anticipated sources, scope, methods of collecting information; organizations and individuals who have committed to providing information and the capability to maintain and develop information providers;

b) Anticipated products to be provided, target users and the capability to maintain and develop user targets;

c) Description of the process of handling collected information to establish a database; process of creating and providing credit information products; storing data and credit information products.

7. Capability to sustain and develop the company in the market

a) Market analysis and assessment of credit information (current status, challenges, and prospects);

b) Capability to participate and compete in the market, including demonstrating the company's advantages when entering the market;

c) Company strategy for developing and expanding its network of operations, providing and developing credit information products (detailed analysis of the products the company plans to provide, types of customers and number of customers...).

8. Anticipated business plan for the first three years (including at least: Summary of assets, financial results report, preservation of registered capital, performance indicators) and explanation of the capability to implement the plan each year.

We commit to strictly comply with all legal regulations and the State Bank of Vietnam's rules, and accept responsibility under the law if there is any violation.

 

Place of Receipt: - As above; - File: VT Attached Documents: - Documents and evidence proving the feasibility of the Business Plan.

LEGAL REPRESENTATIVE (Signature, stamp)

 

 

 

 

Note:

- (1) Name of the credit information company.

- In addition to the minimum contents above, enterprises may present additional contents if deemed necessary.

 

ANNEX VIII

TEMPLATE FOR COMMITMENT TO PROVIDE CREDIT INFORMATION
TO A CREDIT INFORMATION COMPANY

  (Attached to Decree No. 58/2021/NĐ-CP
dated June 10, 2021 of the Government)

^__________

 

NAME OF PARTICIPATING ORGANIZATION... ______  No.: ….

SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness _______________________ …dated… month… year…

 

 

COMMITMENT TO PROVIDE CREDIT INFORMATION TO THE COMPANY
OF CREDIT INFORMATION

 

Pursuant to Decree No. …./…/NĐ-CP dated ... month ... year ... of the Government on the operation of credit information service provision; considering the capacity and need for the provision and use of credit information between the parties, (name of participating organization ...) commits:

1. Not being a participant of other credit information companies up to the date of signing this commitment.

2. Providing truthfully, fully, and promptly credit information about borrowers at (name of participating organization ...) to (name of credit information company ...) according to the agreed procedure document No.... among the parties regarding the collection, processing, storage, and provision of credit information, when (name of credit information company ...) is granted the Certificate of Eligibility for Credit Information Service Provision by the State Bank of Vietnam.

3. Not providing credit information about borrowers at (name of participating organization ...) to other credit information companies.

4. This commitment to provide information will become void in case (name of credit information company ...) is not granted the Certificate, or the credit information company ceases operations, or according to the agreement between the parties.

(Name of participating organization ...) commits to strictly comply with all legal regulations, the State Bank of Vietnam's rules, and the agreements between the parties, and accepts responsibility under the law if there is any violation. 

 

Place of Receipt: - As above; - To be filed: VT.

LEGAL REPRESENTATIVE OF THE PARTICIPATING ORGANIZATION (Signature, stamp)

 

Note: In addition to the minimum contents above, the participating organization may include additional contents if deemed necessary.

ANNEX IX

TEMPLATE FOR CERTIFICATE OF ELIGIBILITY FOR CREDIT INFORMATION SERVICE PROVISION

(Attached to Decree No. 58/2021/NĐ-CP dated June 10, 2021 of the Government)

^__________

 

1. Not to sell, lease, lend, pawn, alter, or erase any information recorded in the Certificate of Eligibility. If the Certificate of Eligibility is lost, it must be reported immediately to the issuing authority. _______ A credit information company that is issued a Certificate of Eligibility for Credit Information Service Provision (Certificate) must: 1. Maintain and ensure the conditions stipulated in the Certificate during the entire period of operation and shall not engage in any other business activities. 2. Shall not alter, erase, or tamper with the contents recorded on the Certificate. 3. Shall not lease, lend, pledge, sell, or transfer the Certificate. 4. Request to reissue the Certificate in accordance with the law in case the Certificate is lost, torn, or damaged. 5. Request to amend the contents of the Certificate in accordance with the law if there are changes in the recorded contents of this Certificate. The decision to amend the contents of the Certificate is an integral part of this Certificate (if applicable). 6. Return the Certificate to the State Bank of Vietnam when ceasing operations of providing credit information services or when there is a decision to revoke the Certificate in accordance with the law. 7. This Certificate automatically becomes invalid when the credit information company is declared bankrupt in accordance with the law./.    - Page 4 -

SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness ______________________   CERTIFICATE OF INSURANCE OR OTHER FINANCIAL SECURITY MEETING THE REQUIREMENTS FOR OPERATING CREDIT INFORMATION SERVICES OF CREDIT INFORMATION   First issued number ..., date ..., month ..., year ... Reissued for the ..., date ..., month ..., year ... (if applicable) (1) Number: .../NHNN-GCN  - Page 1 -

 

STATE BANK OF VIETNAM VIETNAM _____ SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness _____________________     GOVERNOR OF THE STATE BANK OF VIETNAM   Pursuant to Decree No. 16/2017/NĐ-CP dated February 17, 2017 of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam (amended, supplemented, or replaced if applicable); Pursuant to Decree No. .../.../NĐ-CP dated .../.../.... of the Government on the provision of credit information services; Considering the application for issuance/reissuance of the Certificate meeting the requirements for operating credit information services submitted by the credit information company ...; At the request of the Director of the Inspectorate and Supervision Department.   CERTIFICATE:   1. Name of the credit information company: ... Foreign name (if any):... Abbreviated name (if any): … 2. Business registration certificate number: ... issued by ... on ... 3. Registered capital: ...(in words ...) 4. Location of the main office: ... 5. Legal representative:...; position ... Nationality: ... ID card/passport number: ...      - Page 2 -

MEETING THE REQUIREMENTS FOR OPERATING CREDIT INFORMATION SERVICES OF CREDIT INFORMATION   At the time of issuing this Certificate in accordance with Decree No. .../.../NĐ-CP dated .../.../.... of the Government stipulating the provision of credit information services. This Certificate replaces the Certificate meeting the requirements for operating credit information services number ... dated ... (2) (for reissuance cases). This Certificate is established in three original copies; one copy for (name of the enterprise); two copies retained at the State Bank of Vietnam.     Date ..., month ..., year ... GOVERNOR (Signature and stamp)     Note: In the case of reissuing the Certificate meeting the requirements for operating credit information services as stipulated in Article 12 of this Decree, the Certificate will include the following additional information: (1): Reissued for the (N ≥ 1) time since the first issuance of the Certificate. (2): Information from the first issued Certificate or the Certificate reissued for the (N-1) time compared to point (1).      - Page 3 -

 

ANNEX X

MODEL APPLICATION FOR REISSUE/AMENDMENT OF THE CERTIFICATE
MEETING THE REQUIREMENTS FOR OPERATING CREDIT INFORMATION SERVICES
OF CREDIT INFORMATION

(Attached to Decree No. 58/2021/ND-CP
dated June 10, 2021 of the Government)

^____________

 

ENTERPRISE …(1) ______ No.: ….

SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness _____________________ …, day… month… year…

 

 

APPLICATION FOR REISSUE/AMENDMENT OF THE CERTIFICATE
MEETING THE REQUIREMENTS FOR OPERATING CREDIT INFORMATION SERVICES
CREDIT INFORMATION

 

Respectfully submitted to: State Bank of Vietnam.

 

Pursuant to Decree No. .../.../NĐ-CP dated ... month ... year ... of the Government on the provision of credit information services, Credit Information Company ... ⁽¹⁾ requests the State Bank of Vietnam to consider reissuing/amending the Certificate meeting the requirements for operating credit information services as follows:

1. Name of the credit information company: ...

2. Number and date of issue of the business registration certificate: ...

3. Certificate meeting the requirements for operating credit information services number ... first issued on ... month ... year ... (reissued for the ... time on ... month ... year...).

4. Legal representative: ... Position: ...

5. Main office location, telephone number, fax number, email: ...

6. Reason and necessity for the application: ...

7. Commitment under the law

- We commit to continue maintaining and fully meeting the requirements for operating credit information services and not violating any laws, regulations of the State Bank of Vietnam, and the Articles of Association of the credit information company...(1)...

- We commit that the information provided in this application is true and we will bear full responsibility under the law for these information.

After being reissued/amended, we will comply with the legal provisions regarding the publication of information.

 

Place of Receipt: - As above; - File: VT Attached Documents: - List the documents specified in Article 12 and Article 13 of this Decree.

LEGAL REPRESENTATIVE (Signature, stamp)

 

 

Note:

(1) Name of the credit information company.

 

ANNEX XI

MODEL DECISION ON AMENDING THE CONTENTS OF THE CERTIFICATE
CERTIFICATE

(Attached to Decree No. 58/2021/ND-CP
dated June 10, 2021 of the Government)

^_______

 

STATE BANK OF VIETNAM VIETNAM ______ Number: ……./QĐ-NHNN

SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness ______________________ Hanoi, day ... month ... year ...

 

 

Pursuant to …;

Regarding the amendment of the content of ... (1) ... of the Credit Information Company ... (2)...

^{_______________}

GOVERNOR OF THE STATE BANK OF VIETNAM

 

Pursuant to Decree No. 16/2017/NĐ-CP dated February 17, 2017 of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam (amended, supplemented, or replaced if applicable);

Pursuant to Decree No. .../.../NĐ-CP dated ... month ... year ... of the Government on the provision of credit information services;

Considering the application for amending the contents of the Certificate meeting the requirements for operating credit information services submitted by the credit information company ...;

At the request of the Director of the Inspectorate and Supervision Department.

 

DECISION:

 

Article 1. Amend some contents of the Certificate meeting the requirements for operating credit information services number .../NHNN-GCN dated ... month ... year ... issued by the State Bank of Vietnam to the Credit Information Company (2)... (hereinafter referred to as the Certificate)

1. The content ... in the Certificate is amended as follows:

……………………………………….……………………………………

2. The content ... in the Certificate is amended as follows:

……………………………………….……………………………………

Article 2. This Decision takes effect from the date of signature and is an integral part of the Certificate meeting the requirements for operating credit information services number .../NHNN-GCN dated ... month ... year ... issued by the State Bank of Vietnam to the Credit Information Company (2)...

Article 3. The Credit Information Company is responsible for amending its Articles of Association (if applicable) in accordance with the amended content in Article 1 of this Decision.

Article ... (3) ...

Article ... The Director of the State Bank of Vietnam's Office, the Director of the Banking Supervision Department, the Heads of relevant units under the State Bank of Vietnam, and the Credit Information Corporation ... shall be responsible for implementing this Decision.

 

Place of Receipt: - As per Article ...... - Governor of the State Bank of Vietnam; - To be filed: Office, ....

GOVERNOR (Signature, stamp)

 

 

Note:

(1) Content of the request to change.

(2) Name of the credit information corporation.

(3) Other contents of competent state agencies depending on the characteristics of each specific case of changing the Certificate.

 

ANNEX XII

MODEL DECISION ON WITHDRAWING THE CERTIFICATE OF ELIGIBILITY FOR OPERATING CREDIT INFORMATION SERVICES
REGARDING THE WITHDRAWAL OF THE CERTIFICATE OF ELIGIBILITY FOR OPERATING

(Attached to Decree No. 58/2021/ND-CP
dated June 10, 2021 of the Government)

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STATE BANK OF VIETNAM VIETNAM _____ Number: ……./QĐ-NHNN

SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness ______________________ Hanoi, day ... month ... year ...

 

 

Pursuant to …;

CREDIT INFORMATION SERVICES
Regarding the withdrawal of the Certificate of Eligibility for Operating Credit Information Services of the Credit Information Corporation ...(1)...

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GOVERNOR OF THE STATE BANK OF VIETNAM

 

Pursuant to Decree No. 16/2017/NĐ-CP dated February 17, 2017 of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam (amended, supplemented, or replaced if applicable);

Pursuant to Decree No. .../.../ND-CP dated ... month ... year ... of the Government on the operation of credit information services;

Pursuant to ...(2)...

Considering the proposal ...(1)... of the Credit Information Corporation (if any);

At the request of the Director of the Inspectorate and Supervision Department.

 

DECISION:

 

Article 1. Withdraw the Certificate of Eligibility for Operating Credit Information Services No. .../NHNN-GCN dated ... month ... year ... issued by the State Bank of Vietnam for the Credit Information Corporation ...(1)... (hereinafter referred to as the Certificate).

Decision No. .../QĐ-NHNN dated ... month ... year ... of the Governor of the State Bank of Vietnam regarding the change in the content of ...(1)... of the Credit Information Corporation ...(1)... shall cease to be effective from the date this Decision takes effect.

Article 2. The Communications Department and the Banking Inspection Agency shall be responsible for publishing information about the withdrawal of the Certificate of Eligibility for Operating Credit Information Services of the Credit Information Corporation ...(1)... in accordance with Article 16 of Decree No. .../.../ND-CP dated ... month ... year ... of the Government on the operation of credit information services.

Article 3. Within seven working days from the date this Decision becomes effective, the Credit Information Corporation ...(1)... shall return the Certificate to the State Bank of Vietnam.

Article 4. The Credit Information Corporation ...(1)... shall be responsible for organizing implementation according to the plan developed and reporting to the State Bank of Vietnam on the results of implementation in accordance with Decree No. .../.../ND-CP dated ... month ... year ... of the Government on the operation of credit information services and related laws.

Article ... (3) ...

Article ... This Decision takes effect from the date of signature.

Article ... The Director of the State Bank of Vietnam's Office, the Director of the Banking Supervision Department, the Heads of relevant units under the State Bank of Vietnam, and the Credit Information Corporation ...(5)... shall be responsible for implementing this Decision.

 

Place of Receipt: - As per Article ...... - Governor of the State Bank of Vietnam; - To be filed: Office, ....

GOVERNOR (Signature, stamp)

 

 

Note:

(1) Name of the credit information company.

(2) Basis for withdrawing the Certificate (based on each specific case of withdrawal prescribed in Article 14 of this Decree to determine).

(3) Other contents of competent state agencies depending on the characteristics of each specific case of withdrawal.

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