The State bank of Vietnam to make confirmation of foreign loans within 15 days
On September 24, 2013, the State bank of Vietnam issued Circular No. 22/2013/TT-NHNN on guiding procedures for registration and change registration of foreign loan and international bond issuance guaranteed by the Government.
In this Circular, the State bank gives specific guidance on the procedures for registration and change registration of foreign loans and of international bond issuance guaranteed by the Government. In case there is any changes related to foreign loans, issuance of international bonds stated in the document of the State bank which confirms registration of foreign loans, issuance of international bonds, the borrower is responsible for registering the change of foreign loans, issuance of international bonds with the State bank .
Within thirty (30) days after signing agreements of change or the Ministry of Finance has issued a letter and before executing content of change, the borrower shall send directly or via post office one (01) set of dossier as prescribed in Clause 2 of this Article to the State bank, including: Application for change registration of foreign loans or application for change registration of issuance of international bonds; Copies of the signed agreements on changes in foreign language and Vietnamese translations of such documents in case the change contents need to be agreed by parties; a document of the borrower which gives clear explanation about the changed content of foreign loans, issue of international bonds…
Within fifteen (15) days after receiving a full and valid dossier of the borrower, the State bank shall send a written confirmation for registration of foreign loans or issuance of international bonds to the borrower. In case of refusal for registration confirmation, the State bank shall issue written reply clearly stating reason thereof.This Circular takes effect on October 01, 2013 and annuls provisions in section I, section II, section III and section IV Chapter III of the Circular 09/2004/TT-NHNN dated December 21, 2004.
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