Decision No. 845/2004/QĐ-NHNN On Issuing the Payment Regulations for Trade, Exchange of Goods and Services, Investment, and Aid Between Vietnam and Laos

DECISION

Regarding the issuance of the Payment Rules for the purchase, sale, exchange of goods, services, investment, and aid between Vietnam and Laos goods, services, investments, and aid between Vietnam and Laos

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GOVERNOR OF THE STATE BANK OF VIETNAM

Pursuant to the Law on the State Bank of Vietnam No. 01/1997/QH10 dated December 12, 1997 and the Law Amending and Supplementing Certain Articles of the Law on the State Bank of Vietnam No. 10/2003/QH11 dated June 17, 2003;

Pursuant to the Trade Agreement between the Government of the Socialist Republic of Vietnam and the Government of the Lao People's Democratic Republic signed on March 9, 1998;

Pursuant to the Settlement Agreement between the State Bank of Vietnam and the Bank of the Lao People's Democratic Republic signed on December 21, 1998;

Pursuant to the guidance of the Prime Minister in Circular No. 1515/VPCP-KTTH dated April 1, 2004 of the Office of the Government regarding the payment mechanism between Vietnam and Laos;

At the proposal of the Director of the Foreign Exchange Management Department.

Pursuant to …;:

Article 1. Attached hereto are the Payment Rules for the purchase, sale, exchange of goods, services, investment, and aid between Vietnam and Laos.

Article 2. This Decision takes effect 15 days from the date of publication in the Official Gazette and replaces Decision No. 245/QĐ-NHNN7 dated August 2, 2000 of the Governor of the State Bank of Vietnam on the implementation of the temporary payment mechanism in Vietnamese Dong (VND) and Lao Kip (LAK) between Vietnam and Laos, and Decision No. 611/2002/QĐ-NHNN dated June 13, 2002 of the Governor of the State Bank of Vietnam amending Article 12 of Decision No. 245/QĐ-NHNN7.

Article 3. The Head of the Office, the Director of the Foreign Exchange Management Department, the Heads of units under the State Bank of Vietnam, the Governors of the State Bank of Vietnam Branches in provinces and centrally governed cities, and the General Directors (Directors) of commercial banks are responsible for implementing this Decision./.