Chương V Thông tư 03/2016/TT-NHNN: Quy định về quản lý ngoại hối liên quan đến giao dịch bảo lãnh khoản vay nước ngoài

Chapter V

REGULATIONS ON FOREIGN EXCHANGE ADMINISTRATION REGARDING FOREIGN LOAN GUARANTEE

Article 35. Implementation of guarantee obligations

1. As for guaranteed foreign loans, the guarantor shall implement guarantee obligations to the foreign creditor (the obligee) as requested under commitments of the loan agreement, written guarantee commitments (letter of guarantee, guarantee contract or other guarantee commitments) which have been reached between parties involved.

2. Where the guarantor uses payment accounts opened at an account service provider for transferring money to implement guarantee obligations, the guarantor’s account service provider shall carry out transfer of guarantee transfer based on the following documents or records:

a) Foreign loan agreement;

b) Written guarantee commitment;

c) Written request for implementation of guarantee obligations made by the creditor (the oblige) or the borrower (the obligor) in compliance with foreign loan agreements and guarantee commitments;

d) Written confirmation issued by the borrower’s account service provider stating that the borrower has yet to implement payment obligations to the creditor in accordance with the written request for implementation of guarantee obligations referred to in subparagraph c paragraph 2 of this Article;

dd) Written confirmation of registration or registration for changes of foreign loans issued by the State Bank, identifying the guarantor of foreign loans (applicable to the case in which foreign loans are subject to registration with the State Bank);

e) Other documents or records (if any) under the provisions laid down by the account service provider with the help of which the guarantor performs guarantee money transactions.

Article 36. Compulsory indebtedness amount

1. Compulsory indebtedness amount refers to debts that the obligor (the borrower) must repay the guarantor after the guarantor’s fulfillment of its guarantee obligations by means of payments to the obligee (the creditor).

2. Agreement on currency used for indebtedness and payment for compulsory indebtedness amounts within a territory (including guarantee fees) must be consistent with regulations on restrictions on use of foreign exchange on a territory.

Article 37. Reimbursement of compulsory indebtedness amounts

1. The borrower (the obligor) shall carry out reimbursement of compulsory indebtedness amounts to the guarantor on the basis of presenting the followings to the borrower’s service account provider:

a) Foreign loan agreement and other documents relating to foreign borrowing and foreign debt repayment transactions;

b) Agreement on guarantee, implementation of guarantee obligations and reimbursement of compulsory indebtedness amounts agreed upon between the borrower and the guarantor;

c) Proof of the guarantor’s fulfillment of guarantee obligations;

d) Other document or records (if any) according to regulations of the account service provider.

2. Reimbursement of the compulsory indebtedness amount to the guarantor must be carried out through foreign borrowing and foreign debt repayment accounts, or through other accounts opened at the account service provider of the borrower in the event that currency used for paying the compulsory indebtedness amount is different from currency used in foreign borrowing and foreign debt repayment accounts.