Decision No. 980/2001/QD-NHNN dated August 01, 2001 of the State Bank stipulating the fees on foreign loans of businesses

DECISION

STIPULATING THE FEES ON FOREIGN LOANS OF BUSINESSES

THE GOVERNOR OF THE STATE BANK OF VIETNAM

Pursuant to Decree No. 15/CP of March 02, 1993 of the Government on the tasks, powers and management responsibilities of the ministries and ministerial-level agencies;

Pursuant to Decree No. 90/1998/ND-CP of November 17, 1998 of the Government enacting the Statute on foreign loans and payment of foreign debts;

At the proposal of the Head of the Foreign Exchange Management Department,

DECIDES:

Article 1.Businesses shall consider and decide for themselves the fees on foreign loans (including interest rates, fees and other related fees) on the basis of reference to interest rates on the international capital markets and other kinds of fees under international practices at every point of time they sign loan agreement and they have to take responsibility for their decisions on themselves.

Article 2.Businesses mentioned at this Decision were stipulated at Point 1, Section I, Chapter I of Circular No. 03/1999/TT-NHNN7 of August 12, 1999 of the State Bank of Vietnam guiding the overseas borrowing and payment of foreign debts by businesses.

Article 3.Subjects for the borrowing, purposes of borrowing and procedures and dossiers for registration of overseas borrowing stipulated at Circular No. 03/1999/TT-NHNN7 of August 12, 1999 of the State Bank of Vietnam guiding the overseas borrowing and payment of foreign debts by businesses.

Article 4.This Decision takes effect 15 days after the date of its signing and is still effective till the other regulations of the Governor of the State Bank of Vietnam are issued.

Article 5.This Decision replaces Decision No. 308/1999/QD-NHNN7 of September 1, 1999 of the Governor of the State Bank of Vietnam stipulating the conditions for overseas borrowing.

Article 6.The director of the office, the chief inspector of the State Bank of Vietnam, the heads of the agencies attached to the State Bank of Vietnam, the directors of the State Bank’s branches in the provinces and centrally-run cities, the general directors (directors) of the credit organizations and related businesses shall, within the ambit of their functions and tasks, have to implement this Decision.

 (This translation is for reference only)