Decision No. 742/2002/QD-NHNN stipulates regulations on entrusting and accepting entrusted loans from credit institutions, applicable to the Government, economic organizations, political and social organizations, individuals both inside and outside the country, credit institutions, and customers. These regulations guide the implementation of entrusted loan contracts, rights and obligations of the entrusting and entrusted parties, as well as risk management.
适用范围
The Government, economic organizations, political and social organizations, individuals both inside and outside the country, credit institutions established and operating under the Law on Credit Institutions, and borrowers.
要点
- The entrusting party for loan capital includes the Government, economic organizations, political and social organizations, individuals both inside and outside the country, and credit institutions established under the Law on Credit Institutions. The entrusted party for loan capital is credit institutions with lending functions.
- Entrustment fees are payment for services rendered by the entrusted party in disbursing loans and collecting debts from customers. An entrusted loan contract must be documented in writing between the two parties.
- The entrusting party has the right to choose the entrusted party for loan capital, except when designated by the Government or authorized agency. The entrusted party must meet conditions regarding lending functions, organizational network, and staff.
- An entrusted loan contract must specify the names and addresses of both parties, the amount entrusted, the term of entrustment, interest rate, extension of debt, collateral for the loan, entrustment fees, responsibilities of both parties, and other agreements.
- The entrusted party has the right to refuse requests contrary to the contract and sue the entrusting party for breach of contract. The entrusting party has the right to request financial information, monitor the use of loan funds, and recover debt ahead of schedule if there is a violation.
🌐 本文件的社会影响
- Positive impact: These regulations help enhance the efficiency of government and economic organization credit fund usage, reduce risks for the entrusting party.
- Negative impact: They may impose additional legal procedural burdens on participating parties, particularly credit institutions when implementing entrusting and accepting entrusted activities.
❓ 常见问题
Does the entrusting party have the right to choose the entrusted party?
Yes, except in cases where the Government or authorized agency designates.
What contents must be included in an entrusted loan contract?
Names and addresses of both parties, the amount entrusted, the term of entrustment, interest rate, extension of debt, collateral for the loan, entrustment fees, responsibilities of both parties, and other agreements.
What can the entrusted party refuse to comply with?
Refusal of requests that contravene the terms and commitments stated in the entrusted loan contract.
When can the entrusting party recover the debt ahead of schedule?
When the entrusted party for loan capital breaches the terms and commitments stated in the entrusted loan contract, the entrusting party has the right to terminate the contract and recover the debt ahead of schedule.
What are the obligations of the entrusted party?
To provide complete and truthful information related to the loan capital, use the capital for its intended purpose, repay the entrusted capital and interest earned according to the agreed terms and commitments in the entrusted loan contract.
全文
DECISION OF THE GOVERNOR OF THE STATE BANK OF VIETNAM
On the issuance of Regulations on Entrusting and Accepting Entrustment for Loan Disbursement by Credit Institutions
GOVERNOR OF THE STATE BANK OF VIETNAM
Pursuant to the Law on the State Bank of Vietnam and the Law on Credit Organizations dated December 12, 1997;
Pursuant to Decree No. 15/CP dated March 2, 1993 of the Government on the tasks, powers, and responsibilities for state management of Ministries and ministerial-level agencies;
Pursuant to the proposal of the Director of the Monetary Policy Department,
DECISION:
Article 1The attached Decision promulgates the "Regulations on Entrusting and Accepting Entrustment for Loan Disbursement by Credit Institutions."
Article 2These regulations shall take effect fifteen days from the date of signature.
Article 3The Heads of the Office of the State Bank of Vietnam, the Department Heads of the Monetary Policy Department, the Heads of units under the State Bank of Vietnam, the Branch Directors of the State Bank of Vietnam in provinces and centrally-administered cities, the General Directors (Directors) of credit institutions, and other organizations and individuals related to entrusting and accepting entrustment for loan disbursement are responsible for implementing this Decision./.
REGULATIONS
On entrusting and accepting entrustment for loan disbursement by credit institutions
(Issued together with Decision No. 742/2002/QĐ-NHNN
dated July 17, 2002 of the Governor of the State Bank of Vietnam)
Article 1Scope of Regulation
These regulations stipulate the entrusting and accepting entrustment for loan disbursement, debt collection by the entrusting party and the entrusted party, aiming to channel the credit funds of the entrusting party through loan contracts to the entrusted party to directly lend to customers to implement investment plans and projects for development, production, business, services, living standards, and poverty reduction.
Article 2: Applicability
1. The entrusting party for loan disbursement includes: the Government, economic organizations, political-social organizations, individuals both within and outside the country, and credit institutions established and operating under the Law on Credit Institutions that have the need to provide credit loans to customer groups.
2. The entrusted party for loan disbursement is credit institutions established and operating under the Law on Credit Institutions with the function of providing credit in the form of loan disbursement as prescribed by law.
3. Borrowers are organizations, individuals, and households that are borrowers of the entrusted party for loan disbursement.
Article 3Definitions
1. "Entrusting for loan disbursement" means the act where the entrusting party transfers funds to the entrusted party through an entrustment loan agreement for direct lending to customer groups, the entrusting party pays entrustment fees to the entrusted party.
2. "Entrustment fee" is the remuneration paid by the entrusting party to the entrusted party to directly carry out loan disbursement and debt collection for customers based on the agreement between the entrusting party and the entrusted party.
3. "Entrustment loan agreement" is the written agreement between the entrusting party and the entrusted party for loan disbursement to enable the entrusted party to directly lend and collect debts from customers.
Article 4Principles of Entrusting and Accepting Entrustment for Loan Disbursement
1. Entrusting and accepting entrustment for loan disbursement must be carried out through an entrustment loan agreement between the entrusting party and the entrusted party for loan disbursement;
2. Borrowers, lending targets, lending conditions, loan amount, interest rate, extension of debt, collateral for loans, risk handling measures shall be agreed upon and committed to in the entrustment loan agreement in accordance with legal provisions;
3. The entrusting party has the right to select the entrusted party for loan disbursement that ensures safety and effectiveness, except in cases where the Government or authorized agency designates the entrusted party for loan disbursement.
Article 5Conditions for the Entrusted Party for Loan Disbursement
The entrusted party for loan disbursement must meet the following conditions:
1. Having the function of providing credit in the form of loan disbursement as prescribed by law;
2. Having a network of organizational structures to meet the requirements for direct loan disbursement and debt collection to customer groups;
3. Having a team of staff with professional qualifications and experience in loan disbursement and debt collection;
4. Not violating banking operation safety regulations, having credibility in loan disbursement, debt collection, and ensuring the safety of loan capital.
Article 6Entrustment Loan Agreement
1. An entrustment loan agreement shall include the following main contents: name and address of the entrusting party and the entrusted party for loan disbursement, amount of entrustment loan, entrustment period, interest rate for loans, extension of debt, collateral for loans to customers, entrustment fee, responsibilities of the entrusting party and the entrusted party, and other agreements in compliance with legal provisions.
2. The parties may also authorize their affiliated units to negotiate and commit to the terms of the entrustment loan agreement in accordance with legal provisions.
, Clause 1, Clause 2 Article 7a of this Regulation.Inspection and Supervision of Implementation of Entrustment Loan Agreements
1. The entrusting party for loan disbursement is responsible for inspecting and supervising the progress of implementation of the entrustment loan agreement by the entrusted party for loan disbursement according to the agreed and committed terms in the agreement.
2. The entrusted party for loan disbursement must create favorable conditions for the entrusting party for loan disbursement to inspect and supervise the implementation of the entrustment loan agreement.
Article 8Handling Risks of Entrusting and Accepting Entrustment
1. Risks caused by objective and subjective reasons from the customer side leading to non-payment of debt shall be handled by the entrusting party, the handling of risks shall be carried out in accordance with legal provisions.
2. Risks caused by the entrusted party for loan disbursement acting contrary to the agreed and committed terms in the entrustment loan agreement shall be handled by the entrusted party for loan disbursement, the handling of risks shall be carried out in accordance with legal provisions.
Article 9: Rights and Obligations of the Entrusted Party for Loan Disbursement
1. The entrusted party for loan disbursement has the rights:
To refuse requests from the entrusting party for loan disbursement that contravene the agreed and committed terms in the entrustment loan agreement.
To initiate legal proceedings against the entrusting party for loan disbursement for breach of the entrustment loan agreement in accordance with legal provisions.
2. The entrusted party for loan disbursement has the obligations:
To provide complete and truthful information and documents related to entrusted loan funds to the entrusting party and bear responsibility for the accuracy of the provided information and documents.
To use entrusted loan funds for the intended purpose and in accordance with the agreed and committed terms in the entrustment loan agreement.
To have the responsibility to repay the entrusted funds and interest earned on time as agreed and committed in the entrustment loan agreement.
Article 10: Rights and Obligations of the Entrusting Party for Loan Disbursement
1. The entrusting party for loan disbursement has the rights:
To request the entrusted party for loan disbursement to provide financial capability documents, customer information, disbursement status, repayment capacity, and other relevant documents.
Refuse the requests of the borrowing entrustee that contravene the agreements and commitments recorded in the loan entrustment contract. Monitor and supervise the process of using borrowed funds and repaying debts by the borrowing entrustee.
Terminate the loan entrustment contract and recover the debt prematurely when the borrowing entrustee breaches the agreements and commitments recorded in the loan entrustment contract.
Initiate legal proceedings against the borrowing entrustee for violating the loan entrustment contract in accordance with the provisions of the law.
2. The lending entrustor shall be obliged to:
Fulfill the agreements and commitments recorded in the loan entrustment contract.
Transfer entrusted capital according to the schedule, retain entrustment loan files in compliance with the provisions of the law.
Pay full and timely trust management fees.
Cooperate with the borrowing entrustee to handle risks in accordance with the agreements and commitments recorded in the loan entrustment contract.
Article 11Article of Implementation
Any amendment or supplementation to this Regulation shall be decided by the Governor of the State Bank of Vietnam./.
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