Joint Circular No. 59 TT/LB supplements and amends certain points regarding the implementation of road and river traffic fees.

JOINT CIRCULAR

||| Supplementing and amending certain points regarding the implementation of road and river transport fees collection.

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||| In accordance with the Chairman of the Council of Ministers' Decision (Circular No. 1810/PPLT dated September 30, 1989) on the early payment of the first installment of state bonds for the years 1983-1984 to the people of five counties and cities in Thanh Hoa Province affected severely by Typhoon No. 6 in order to help these regions quickly restore production and stabilize their lives, the Ministry of Finance, State Bank of Vietnam, and Ministry of Agriculture and Food Industry provide detailed guidance on implementing the aforementioned Chairman's Decision as follows:

A||| OBJECTS, PRINCIPLES, AND FORMS OF PAYMENT FOR STATE BONDS.

1/ The state bonds issued in the years 1983-1984 with a ten-year term and an annual interest rate of 3%, recorded in cash, rice, and foreign currency, in the counties of Tĩnh Gia, Quan Xương, Như Xuân, Nông Cống, and the town of Sầm Sơn in Thanh Hoa Province, will be paid off ahead of schedule according to the terms of state bonds with a five-year term and an annual interest rate of 2% (as supplemented by the Ordinance dated May 30, 1985, which amended certain points in the Ordinance dated November 25, 1983, concerning the issuance of state bonds for national construction with a five-year term), and in accordance with the guidance provided in this circular. Apart from the state bond certificates, other documents have no value for payment.

2/ The payment of state bonds shall be carried out according to the following forms and principles:

1. Supplementing Point 6a following Article 6 of Circular No. 02/2019/TT-BVHTTDL dated July 5, 2019 of the Minister of Culture, Sports and Tourism on the procedures for legal expertise regarding copyright and related rights as follows: The value of state bond certificates recorded in cash at the time of payment will be recalculated based on changes in the average price index of goods securing the value of the year of payment (as per Decision No. 178-TC/CĐTC dated November 3, 1989, of the Ministry of Finance) compared to the year of issuance of the state bonds (as per Decision No. 121 TC/CĐTC dated February 27, 1984, of the Ministry of Finance). The prices of goods securing the value of the money spent on purchasing state bonds are uniformly stipulated throughout the country and not specified by region.

The value of state bond certificates recorded in rice at the time of payment will be calculated based on the prevailing rice purchase price in the market at the time of payment.

b. The value of state bond certificates recorded in foreign currency at the time of payment will be repaid in the same type of foreign currency as recorded on the certificate. If the holder of the state bond certificate wishes to be paid in Vietnamese dong, the foreign currency will be converted to Vietnamese dong at the exchange rate published by the State Bank of Vietnam at the time of payment. For state bond certificates recorded in gold over a ten-year period, at the time of payment, they will be repaid in gold according to the exact weight and quality recorded on the state bond certificate. Local gold and silver trading companies will settle with the State Bank of Vietnam at the trading price (selling price) for cases where the holder of the state bond certificate wishes to be paid in gold. As for the interest earned (20% of the weight of gold recorded on the state bond certificate, i.e., 2% annually), it will be paid in Vietnamese dong at the trading price (buying price) of the State Bank at the time of payment.

c. If the holder of the state bond certificate wishes to be paid both principal and interest in Vietnamese dong, the entire amount will be paid in Vietnamese dong at the trading price (buying price) of the State Bank at the time of payment (as per Decree No. 59-HĐBT dated April 12, 1984, supplementing Decree No. 145-HĐBT detailing the implementation of the Ordinance on the issuance of state bonds for national construction). 3/ State bond certificates bearing the name of the purchaser, stamped with the issuance year, and completed with all procedures when purchased at the grassroots savings fund are legitimate documents for payment.

d. For state bond certificates that have been transferred, at the time of payment, in addition to the state bond certificate certified as having completed the transfer procedures, the transferee must present the receipt confirmed by each transfer. 4/ All state bond certificates recorded in cash, rice, gold, and foreign currency will be refunded at the savings fund where the holder resides regularly, regardless of where the state bond certificate was purchased.

5/ In case of loss of a state bond certificate, the holder must immediately report to the district or county where they reside, and for ease of tracking and cross-referencing with original records, the report should clearly state: the holder's full name, address, ID number (if available); the amount of money, quantity of rice, foreign currency, or gold recorded on the certificate; the date and place of issuance of the state bond, etc. (Article 6 of Decree No. 145-HĐBT dated December 6, 1983). Lost state bond certificates will have no value for payment to anyone other than the holder.

6/ In cases where money, rice, gold, or foreign currency has already been collected but the state bond certificate has not yet been returned to the purchaser, and the purchaser discovers this during the payment process, financial authorities and banks need to promptly report to local party committees and governments for examination, resolution, and strict handling of any violations to maintain public trust in the Party and the State.

7/ Detailed calculation methods for the early payment of state bonds are attached as an appendix to this circular.

RESPONSIBILITIES OF SECTIONS IN ORGANIZING THE PAYMENT OF STATE BONDS FOR THE PERIOD 1983-1984

I. FOR FINANCIAL AUTHORITIES.

The Ministry of Finance is responsible for

- Preparing plans for the early payment of state bonds, ensuring adequate funding and timely transferring funds to the Central State Bank to organize and direct the payment to the holders of state bond certificates.

B. - Promptly informing the Central State Bank, the Central Committee for Mobilizing Savings for National Construction, and the People's Committee of Thanh Hoa Province about the price indices of goods securing the value of the money spent on purchasing state bonds as announced by the State at the time of payment..

- Jointly with banking and food sectors, organizing guidance on the correct payment of state bonds in accordance with policies and the Ordinance on the Issuance of State Bonds for National Construction.

1/ - Cooperating with the Central Committee for Mobilizing Savings for National Construction, the State Bank of Vietnam, the Ministry of Agriculture and Food Industry, and the People's Committee of Thanh Hoa Province, to organize inspections, urging prompt implementation of payments to purchasers of state bond certificates, resolving arising issues promptly, organizing reviews and summarizing experiences, and compiling reports to the Council of Ministers upon completion of the payment period.:

The Department of Finance of Thanh Hoa Province is responsible for

- Timely notify the State Bank of Vietnam, the Central Committee for Mobilizing Savings to Purchase Government Bonds, and the People's Committee of Thanh Hoa Province about the price index of goods to ensure the value of money spent on purchasing government bonds as announced by the State at the time of payment.

- Collaborate with the banking sector and food industry to guide the payment of government bonds according to regulations, policies, and the Ordinance on Issuing Government Bonds for National Construction.

- Coordinate with the Central Committee for Mobilizing Savings to Purchase Government Bonds, the State Bank of Vietnam, the Ministry of Agriculture and Food Industry, and the People's Committee of Thanh Hoa Province to organize inspections and督促落实向购买国库券的人支付款项的工作，及时解决出现的问题；组织总结经验并汇总报告政府总理在付款阶段结束后。

2/ The Department of Finance of Thanh Hoa Province shall be responsible for:

- Assist the People's Committee of the province with plans and measures to direct the early payment of public debt funds to the people of the five districts and towns within the province that have been approved by the Council of Ministers.

- Based on the consolidated report from the Bank regarding the number of public debt certificates issued, conduct verification and reconciliation of the amount received from rice, gold, foreign currency with the actual payments made to the State budget to establish a basis for preparing the state budget expenditure plan for the public debt payment accurately, fully, and promptly.

- After completing the public debt payment phase, the Department of Finance will coordinate with banking and foodstuff agencies to organize a meeting chaired by the People's Committee of the province to summarize experiences, compile reports to be sent to the People's Committee of the province, the Ministry of Finance, the State Bank, and the Ministry of Agriculture and Food Industry; simultaneously, verify and confirm the final settlement report of the State Bank of the province regarding the payment of public debt funds.

II. REGARDING BANKING AUTHORITIES.

1/  The State Bank of Vietnam has the responsibility:

- Guide the Thanh Hoa Provincial Bank to carry out account statements, summaries, and reports on public debt certificates paid in cash, rice, gold, and foreign currency (by type and certificate category) issued and collected into the budget during the 1983-1984 period for the aforementioned five districts and towns to inform the Department of Finance. At the same time, guide the principles and procedures for refunding public debt certificates at the savings fund where the certificate holder resides regularly and the principles and procedures for paying lost public debt certificates, ensuring requirements of convenience, completeness, accuracy, and safety of state and citizen assets.

- Train key staff directly responsible for public debt payment at the provincial bank and the five districts and towns in Thanh Hoa on the operational procedures for public debt payment, particularly the calculation of price indices for various goods to ensure the value of money spent on purchasing public debt certificates.

- Thirty (30) days after the completion of the public debt payment phase, the State Bank of Vietnam will settle accounts with the Ministry of Finance for the amount paid, matching the types and categories of public debt certificates collected.

2/ The Thanh Hoa Provincial State Bank has the responsibility:

- Guide the five district and town banks to carry out account statements, summaries, and reports on public debt certificates paid in cash, rice, gold, and foreign currency (by type and certificate category) issued and collected into the budget to send to the Department of Finance for verification and reconciliation purposes and to prepare the state budget expenditure plan for public debt payment.

- Coordinate with financial agencies to organize public debt payment in each area, ensuring requirements of speed, convenience, without affecting production and daily life of the people, maintaining order and safety of socialist public property.

- Fully implement public debt payment (including principal, interest, and amounts calculated based on price indices of goods to ensure the value of money spent on purchasing public debt certificates announced by the state at the time of payment) directly to the holders of public debt certificates within the scope of the dedicated budget.

Twenty (20) days after the completion of the public debt payment phase, the Thanh Hoa Provincial State Bank will prepare a final settlement report on the amount paid, matching the types and categories of public debt certificates collected, to be sent to the Department of Finance for verification and confirmation, then forwarded to the State Bank of Vietnam.

III. REGARDING THE MINISTRY OF AGRICULTURE AND FOOD INDUSTRY.

The Ministry of Agriculture and Food Industry, based on the provisions of Decree No. 145-HĐBT dated December 6, 1983 of the Council of Ministers and Circular No. 11-TT/LB dated December 21, 1983 of the Joint Bank-State Food Agency, shall coordinate with the finance and banking sectors to effectively direct the payment of public debt in rice.

Guide local foodstuff agencies to base on receipts and records of rice collected for public debt by the foodstuff sector to reconcile with the Bank the categories of rice public debt certificates issued, the amount of rice public debt collected, and the capital borrowed from the Bank to settle with the State Budget; accurately determine the amount of rice to be settled with the buyer of public debt certificates. If any errors are found, timely corrective plans should be developed to ensure the successful settlement of public debt payments recorded and collected in rice.

4. Liquid bull semen EXPENSES FOR PUBLIC DEBT PAYMENT SERVICES:

Expenses related to operational services for public debt payment shall be drawn from the regular operating budgets of the finance and banking sectors.

Specifically, expenses for allowances provided according to regulations for personnel directly involved in public debt payment shall be compiled into a comprehensive budget estimate by the provincial Department of Finance, submitted for approval by the People's Committee of the province, and included in the local state budget.

Implementing the decision of the Chairman of the Council of Ministers regarding the early payment of public debt for the 1983-1984 phase to the people in the five districts and towns of Thanh Hoa Province is a very important task, while also serving as a preparatory exercise to draw lessons for future public debt payment phases nationwide when the payment deadlines arrive. In the process of implementation, if there are any difficulties or obstacles, local financial, banking, and foodstuff agencies are requested to report to the Joint Ministry for unified guidance on solutions./.