Chapter I
GENERAL PROVISIONS
Article 1.-
1. Financial lease means the medium-term and long-term credit activities through the lease of machinery, equipment and transport means and other movables on the basis of lease contracts between the lessors and the lessees. The lessors undertake to purchase machinery, equipment, transport means and other movables at the requests of the lessees and hold the ownership over the leased assets. The lessees use the leased assets and pay rents therefor during the whole leasing term as agreed upon by the two parties.
2. Upon the expiry of the leasing term, the lessees may opt to purchase the leased assets or continue to lease them under the conditions already agreed upon in the financial leasing contracts. The total rent payable for an asset determined in a financial leasing contract must be at least equal to the value of such asset at the time of signing of the contract.
3. Financial leasing activities on the Vietnamese territory must be conducted through financial leasing companies established and operating in Vietnam and comply with the provisions of this Decree.
4. Financial leasing companies’ financial leasing activities overseas shall comply with the provisions of this Decree and other relevant provisions of Vietnamese law or the involved parties may agree upon the application of international practices if such practices do not run counter to Vietnamese law.
Article 2.- Financial leasing companies are non-bank credit institutions and Vietnamese legal persons. They are established and operate in Vietnam in the following forms:
1. State-run financial leasing companies.
2. Joint-stock financial leasing companies.
3. Affiliate financial leasing companies of credit institutions.
4. Joint-venture financial leasing companies.
5. Financial leasing companies with 100% foreign capital.
Article 3.-
1. Joint-venture financial leasing companies are established with the capital contributed by the Vietnamese party consisting of one or more than one Vietnamese credit institution and/or enterprise and the foreign party consisting of one or more than one foreign credit institution, on the basis of joint-venture contracts.
2. Financial leasing companies with 100% foreign capital are established with the capital contributed by one or more than one foreign credit institution in accordance with the provisions of Vietnamese law.
Article 4.-
1. The parties to a joint-venture financial leasing company may transfer their contributed capital amounts according to the provisions of Article 26 of the Governments Decree No. 13/1999/ND-CP of March 17, 1999, but must give the transfer priority to other parties within the joint-venture financial leasing company. The transfer of a joint-venture financial leasing companys capital must be provided for in the companys charter and comply with law provisions.
2. Financial leasing companies with 100% foreign capital may transfer their capital but must give the transfer priority to Vietnamese organizations.
Article 5.-
1. The operation term of a financial leasing company in Vietnam shall not exceed 50 years. Any extension thereof must be approved by the State Bank. Each extension shall not exceed 50 years.
2. For financial leasing companies established and granted operation licenses before this Decree takes effect, their operation term shall be as prescribed in the granted operation licenses.
Article 6.- The State Bank of Vietnam is the body which perform the State management over the financial leasing activities, having the tasks of granting and withdrawing establishment and operation licenses, supervising and inspecting the operation of financial leasing companies, submitting to the competent State bodies for promulgation or promulgating according to its competence legal documents on financial leasing activities.
Article 7.- In this Decree, the following terms are construed as follows:
1. Lessors mean financial leasing companies established and operating according to Vietnamese law.
2. Lessees mean organizations and individuals operating in Vietnam, directly using the leased assets for their operation purposes.
3. Leased assets mean machinery, equipment, transport means and other movables.
Tìm kiếm
Nghị định 16/2001/NĐ-CP (Bản Word)