Decision No. 283/2000/QD-NHNN14 of August 25, 2000, on the issuance of the regulation on the bank guarantee

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Issuing body:	State Bank of Vietnam	Effective date:	Known Please log in to a subscriber account to use this function. Don’t have an account? Register here
Official number:	283/2000/QD-NHNN14	Signer:	Le Duc Thuy
Type:	Decision	Expiry date:	Known Please log in to a subscriber account to use this function. Don’t have an account? Register here
Issuing date:	25/08/2000	Effect status:	Known Please log in to a subscriber account to use this function. Don’t have an account? Register here
Fields:	Finance - Banking

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STATE BANK OF VIETNAM -------	SOCIALIST REPUBLIC OF VIETNAM Independence-freedom-happiness ---------
No. 283/2000/QD-NHNN14	Hanoi, August 25^th , 2000

DECISION

ON THE ISSUANCE OF THE REGULATION ON THE BANK GUARANTEE

THE GOVERNOR OF THE STATE BANK

Pursuant to the Law on the State Bank of Vietnam No. 01/1997/QH10 dated 12 December, 1997and the Law on the Credit Institutions No. 02/1997/QH10 dated 12 December, 1997;
Pursuant to the Decree No. 15/CP dated 02 March, 1993 of the Government on the assignment, authority and responsibility for the State management of the ministries and ministry-level agencies;
Upon the proposal of the Director of the Credit Institutions Department,

DECIDES

Article 1. To issue in conjunction with this Decision the Regulation on the bank guarantee.

Article 2. This Decision shall be effective after 15 days from the date of signing. This Decision shall repeal the Decision No.23/QD-NH14 dated 21 February, 1994 of the Governor of the State Bank issuing the Regulation on the guarantee and re-guarantee for foreign borrowing; the DecisionNo.196/QD-NHNN14 dated 16 September, 1994 of the Governor of the State Bank issuing the Regulation on the guarantee operation of banks; the Decision No. 262/QD-NHNN14 dated 19 September, 1995 of the Governor of the State Bank on the amendment of some articles of the Regulation on the guarantee operation of banks issued in conjunction with the Decision No.196/QD-NH14 dated 16 September, 1994 of the Governor of the State Bank; the Decision No.263/QD-NH14 dated 19 September, 1995 of the Governor of the State Bank on the amendment of some articles of the Regulation on the guarantee and re-guarantee for foreign borrowing issued in conjunction with the Decision No.23/QD-NH14 dated 21 February, 1994 of the Governor of the State Bank.

Article 3. The Director of the Administration Department, the Director of the Credit Department, Heads of relevant units of the State Bank of Vietnam, General Managers of State Bank branches in provinces and cities under the center management, Chairpersons, General Directors (Directors) of credit institutions shall be responsible for the implementation of this Decision.

THE GOVERNOR OF THE STATE BANK

Le Duc Thuy

REGULATION

ON THE BANK GUARANTEE
(issued in conjunction with the Decision No. 283/2000/QD-NHNN14 dated 25 August,2000 of the Governor of the State Bank)

Chapter I

GENERAL PROVISIONS

Article 1. Governing scope

This Regulation shall provide for the implementation of the guarantee operation by credit institutions for their customers.

Article 2. Interpretation

In this Regulation, following terms shall be construed as follows:

1. "Bank guarantee" is a written commitment of a credit institution (the guaranteeing party) to the obligee (the guarantee accepting party) in respect of the performance of financial obligation in lieu of the customer (the guaranteed party) upon the failure by the customer to perform or duly perform the obligation committed to the guarantee accepting party. The customer must recognize the debt and repay the credit institution the payment made on his behalf.

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Decision No. 283/2000/QD-NHNN14 of August 25, 2000, on the issuance of the regulation on the bank guarantee

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