Vietnam Business Law is a website managed by lawyers of Venture North Law Limited (VNLaw). Venture North Law Limited (VNLaw) is a Vietnamese commercial law firm. We won the Rising Law Firm of the Year Award at the Southeast Asia Law Awards for the years 2020 and 2021 held by The Legal 500. Very few Vietnamese law firms have achieved a similar regional recognition.
Posted in: Banking & Finance
Under Decree 4/2017, the Vietnamese Government imposes stricter regulations on issuance and management of Government guarantees. Government guarantees under Decree 4/2017 are guarantees issued on behalf of the Vietnamese Government (as the guarantor) in favour of foreign lenders to guarantee loans or bonds borrowed or issued by companies in Vietnam. Under Decree 4/2017:
In general, a secured creditor will be given priority over unsecured creditors regarding certain assets of the bankrupt enterprise. However, under Vietnamese bankruptcy law, such priority comes with a cost. In particular:
Most banks in Vietnam provide internet banking services to its customers via a web-based platform (the E-platform) which enables bank customers to create, authorise and dispatch instructions (E-Documents) to the bank electronically. Usually, an E-platform provides users with authentication tools including customer ID, user IDs, passwords and one-time password (the OTP) to get access to the E-platform.
Under Decree 135/2015 effective from 15 February 2016, a local company can invest in shares, bonds and other securities issued offshore of Vietnam (Offshore Indirect Investment) via an entrustment agreement (hợp đồng ủy thác đầu tư) with a licensed fund management company, securities company or commercial bank (Local Managers) if: