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light-check Quy định mới về tài sản bảo đảm English attachment

Decree No. 21/2021/ND-CP dated March 19th, 2021 of the Government on elaborating to the Civil Code regarding security for fulfillment of obligations
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blue-check Land – related authorization must conclude the contract of authorization instead of the letter of attorney

Official letter No. 625/BTP-HTQTCT dated March 9th, 2021 of the Ministry of Justice regarding authentication of the letter of attorney to authorize another person to take part in separation, disposition of land use right
VietlawOnline

According to Clause 3 Article 14 of Circular No. 01/2020/TT-BTP, in case a person authorizes another one to take part in separation, disposition of land use right, it is not allow making the letter of attorney, instead it is required to conclude the contract of authorization which is notarized or authenticated.

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blue-check New regulations on spam emails and spam calls

Decree No. 91/2020/ND-CP dated August 14th, 2020 of the Government on fighting spam messages, spam emails and spam calls
VietlawOnline

This Decree provides for the fighting of spam messages, spam emails and spam calls; regulations on advertising messages (SMS, MMS, USSD), emails and calls. Read more

This Decree takes effect from October 1st, 2020. To replace Decree No. 90/2008/ND-CPstatus1 dated August 13th, 2008 and Decree No. 77/2012/ND-CPstatus1 dated October 5th, 2012.

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blue-check Law on mediation or dialogue at the Court

Law No. 58/2020/QH14 dated June 16th, 2020 of the National Assembly on mediation or dialogue at the Court
VietlawOnline

This Law allows parties in a lawsuit to conduct mediation for a case before the court accepts a civil case. Mediation shall be conducted at the court under the participation of mediator at court. Information relating to mediation must be kept confidential Read more

Parties are allowed to conduct mediation with regard to any agreement provided that the content of such agreement does not violate the prohibition of the law, is not contrary to social ethics, is not intended to evade obligations to the State.

This Law takes effect from January 1st, 2021.

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stop-check Fees for registration of secured transactions shall be reduced by 20%

Circular No. 49/2020/TT-BTCstatus1 dated June 1st, 2020 of the Ministry of Finance on rates and payment of fees for registration of secured transactions
VietlawOnline

From June 1st, 2020 to December 31st, 2020, fees for registration of secured transactions and fee for provision of information on secured transactions as regulated at Circular No. 202/2016/TT-BTCstatus2 and Circular No. 113/2017/TT-BTC shall be reduced by 20%. Read more

Particularly, fee collectors (Centers for registration of transactions and assets) shall be exempt from submitting the 20% reduction into the State budget.

This Circular takes effect from June 1st, 2010 to the end of December 31st, 2020.

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red-check Guidelines on registration and provision of information about security interests and contracts

Circular No. 08/2018/TT-BTPstatus2 dated June 20th, 2018 of the Ministry of Justice on providing guidelines for registration of and provision of information about security interests and contracts, and exchange of information about security interest registration with Centers for Registration of Transactions and Assets of the National Registration Agency for Secured Transactions affiliated to the Ministry of Justice
VietlawOnline

This Circular provides guidelines for registration of and provision of information about security interests, property lease contracts, financial lease contracts and contracts for transfer of the debt collection right; exchange of information about registration of security interests with Centers for Registration of Transactions and Assets of the National Registration Agency for Secured Transactions affiliated to the Ministry of Justice. Read more

Accordingly, the security interests are registered upon request includes: mortgage of movable property (including off-the-plan movable property); retention of title in the case of purchase of movable property (Clause 1 Article 5).

With regard to contracts that are registered upon request include: property lease contracts in effect for a minimum term of one year; financial lease contracts; contracts for transfer of the debt collection right (including both the existing and the future debt collection right) (Clause 2 Article 5).

For collateral that may be registered upon request includes: automobiles, motorcycles, other road motor vehicles; railway vehicles; fishing vessels; inland watercrafts; machinery, equipment, production line, raw materials, fuels, materials, consumer goods; Vietnamese currency and foreign currencies, precious metals, gemstones; stakes; valuable papers; profits; property rights; houses and other works that are temporarily built; other movable property (Article 6).

Individuals and juridical persons may select any Registration Center in the country to apply for registration of and ask for information about security interests and contracts (Article 3).

This Circular takes effect from August 4th, 2018. To replace Circular No. 22/2010/TT-BTPstatus1 dated December 6th, 2010; Circular No. 05/2011/TT-BTPstatus1 dated February 16th, 2011; Circular No. 08/2014/TT-BTPstatus1 dated February 26th, 2014 and Circular No. 11/2015/TT-BTPstatus1 dated September 1st, 2015.

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blue-check Supplement to procedures for transferring property of PPP projects to the State

Decree No. 29/2018/ND-CP dated March 5th, 2018 of the Government on prescribing processes and procedures for establishing all-people ownership of property and disposal of property under established all-people ownership
VietlawOnline

In comparison with the earlier regulations, this Decree supplements procedures for establishing the all-people ownership of property transferred to the State under PPP project contracts Read more

Accordingly, within the maximum duration of 01 year prior to transfer or within the period agreed upon in a project contract, the project enterprise shall be obliged to publish the transfer of its property, duration of contract discharge on newspapers.

The project enterprise must ensure that the transferred property is not used as security for financial or other obligations of the project enterprise before the date of transfer.

This Decree takes effect from the date of its signing and replaces Decree No. 29/2014/ND-CP dated April 10th, 2014; Decree No. 96/2009/ND-CPstatus1 dated October 30th, 2009.

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blue-check New regulations on registration for secured transactions

Decree No. 102/2017/ND-CP dated September 1st, 2017 of the Government on registration of security interests
VietlawOnline

One of the noticeable new points of this Decree is the addition to cases having to register secured transaction. Read more

Accordingly, apart from transactions of mortgage of land use rights, pledge or mortgage of aircrafts, mortgage of seagoing ships, currently, the transaction of mortgage of property on land whose ownership has been certified shall be also subject to the registration.

This Decree takes effect from October 15th, 2017 and replaces Decree No. 83/2010/ND-CPstatus1 dated July 23rd, 2010.

To abolish Article 1 of Decree No. 05/2012/ND-CPstatus2 dated February 2nd, 2012.

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red-check Charges for registration for secured transactions applicable from 2017

Circular No. 202/2016/TT-BTCstatus2 of November 9th, 2016 of the Ministry of Finance on the rate, collection, submission, administration and use of the fees on secured transaction
VietlawOnline

The charges for registration for secured transactions prescribed in this Circular are not changed in comparison with those provided in Joint Circular No. 69/2011/TTLT-BTC-BTP. In particular, charge for initial registration is VND 80,000/application; charge for registration for revision to a registered secured transaction is VND 60,000/application; charge for registration for the notice of collateral settlement is VND 70,000/application; and charge for removal of secured transaction registration is VND 20,000/application. Read more

However, this Circular supplements the charge for issuance of a copy of a certificate of secured transaction registration which is VND 30,000/case

This Circular takes effect from January 1st, 2017. To replaces Joint Circular No. 69/2011/TTLT-BTC-BTP dated May 18th, 2011.

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blue-check The new guidelines on mutual legal assistance in civil matters

Joint Circular No. 12/2016/TTLT-BTP-BNG-TANDTC dated October 19th, 2016 of the Ministry of Justice - the Ministry of Foreign Affairs - the Supreme People’s Court on procedures for mutual legal assistance in civil matters
VietlawOnline

In comparison with the earlier provisions, this Joint Circular enlarges scope of competence to request Vietnamese judicial request. Accordingly, apart from People’s Courts, People’s Procuracies and civil enforcement Agencies are also competent to request Vietnamese judicial request (Article 10) Read more

Regarding costs of executing Vietnamese judicial requests, Article 7 of this Joint Circular specifies that in a case where the actual costs have not been determined at the time which the Vietnamese judicial requesting authority prepare documents, such authority shall notify the Vietnamese request payer of paying an advance of VND 3 million to the civil enforcement agency of the province where the Vietnamese judicial requesting authority is located. The amount of such advance shall cover the actual costs at the request of the foreign competent authorities and expenses associated with fund transfer abroad made by the civil enforcement agency.

This Joint Circular takes effect from December 6th, 2016 and replaces Joint Circular No. 15/2011/TTLT-BTP-BNG-TANDTCstatus1 dated September 15th, 2011

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