8. Procedures of loan security via property mortgage of the third
party.
a. Implementation steps:
Step 1: Credit staff requires borrower (or guarantor) to show the original
copies of loan security properties, then check its validity and legality and will
conduct property assessment if acceptable. The assessment result is the base to
fill in the contract of loan security.
Step 2: Both credit staff and representative of pledger must fill in
adequately the contract of loan security.
Step 3: After the mortgager agrees with every conditions and clauses in
the draft contract of loan security, it shall be submitted to the bank director and
representative of pledger, will have paraph on every page and sign in each page
and fill in full name in the bottom of contract of property pledge.
Step 4: The contract of loan security has 03 copies. After that, the credit
division requires borrowers (or pledger) to provide the certification of State
owned notary public office or confirmation of People's Committee on the loan
security contract and make registration in the secured transaction agency.
Step 5: Credit staff transfer files of loan security to accountants for
supervision and management under the regulation.
Step 6: Pledger delivers the pledged property to the bank for management
under the regulation.
Step 7: When the borrower fulfills the obligation of debt repayment, the
bank gives papers relating to pledged property back to the pledger.
b. Implementation method:
- Borrower directly hands in pledge file to VBSP district transaction
offices where give loan
c. Component and quantity of dossier:
- Component of the dossier:
+ Property pledge Contract with the third person (form 03/BĐTV);
- Minute of determining value of the secured property (form 10/BĐTV);
- Contract of hiring experts in terms of determining value of the pledge
property and enclosed with the quality assessment and value determination result
of pledge property (if any);
+ Original copies that prove ownership and utilization rights of pledge
properties: (stated in section a, point 8.1 of this document);
+ Property receipt between the pledger and the bank. .
- FOR REFERENCE ONLY -
- Number of dossiers: 02 copies. 01 copy kept by borrower, 01 copy kept
by VBSP district transaction office where providing loan.
d. Approval duration:
- None regulation.
đ. Procedure target:
- Individual or organization.
e. Implementation agencies:
- Approval agencies: VBSP district transaction office where providing
the loan.
- Procedures handling agencies: VBSP district transaction office where
providing the loan.
- Coordinating agencies (if any): CPC, mass organizations
g. Procedure output:
- Property pledge Contract with the third person (form 03/BĐTV);
- Minute of determining value of the secured property (form 10/BĐTV);
h. Fee:
- None
i. List of forms:
- Property pledge Contract with the third person (form 03/BĐTV);
- Minute of determining value of the secured property (form 10/BĐTV);
k. Requirements for approval:
- Belong to ownership, management, utilization of the borrower or the
securing party.
- Legally transactable properties.
- Property without dispute at the time of mortgage, pledge and security
agreement.
- Regarding the property that requires insurance as stipulated by the law,
the borrower has to buy insurance during the term of loan security. The borrowers
or the securing party have to take responsibility for the legality of loan secured
property before the law.
l. Legal basis:
- Pursuant to the Civil Law dated 14th June 2005;
- Pursuant to Decree No. 163/2006/NĐ-CP dated 29th December 2006 of
the Government on security transaction;
- FOR REFERENCE ONLY -
- Pursuant to Document No.2478/NHCS-TDSV dated 4th Sept. 2009 of
the General Director of Vietnam Bank for Social Policies (VBSP) on instructing
to conduct loan security methods in the VBSP system,
- FOR REFERENCE ONLY -
CERTIFICATION OF STATE NOTARY
OR CERTIFICATION OF PEOPLE'S COMMITTEE
Form 10/BĐTV
SOCIALIST REPUBLIC OF VIETNAM
(formulated by the bank &
Independence - Freedom - Happiness
customer)
MINUTE OF CERTIFYING SECURITY PROPERTY
NO.: . . . . . . . . . . . . . .
Today, dated. . . month . . . year . . . . in/at . . . . . . . .. . .., we include:
1. Borrower full name (securing party) . . . . . . .. . . . . . . . . . . . . . .
Address: . . . . . . . . . . . . . . . . . . . . . . . . . . . ….. . . . . . . . . . . . . . . . . . . . . . .
Representative (Mr./Ms: . . . . . . . . . . . . . . . . . . . position:. . . . . .. . . .
Identification No.: . . . . . . . . . . . . . . . granted by police . . . . . . . . . . . . . .
dated...........month...................year 20...
2. Representative of VBSP branch . . . . . .. . . . . . . . . . . . . . . . . . . . . . . ..
Mr. (Ms.):. . . . . . . . . . . . . . . . Position:. . . . . . . . . . . . . . . . ………………..
Mr. (Ms.). . . . . . . . . . . . . . . credit staff . . . . . . . . . . . . . . . . . …..
To agree on certifying loan security properties and their values as follows:
a) Property value
No
property
name
quanti
ty
type
property
papers
technical
feature
value
total
b) Value of land use rights:. . . . .. .m2 x . ….. . . . . đ/m2.=…… ... . . VNĐ
c) Total of security properties: . . . . . . . . . . . . . . .. . . . . . . . . VNĐ
(By letter:. . . . . . . . . . . . . . . . .. . . . . . . . .............................. . . . . . . . . .)
The minute is formulated into....copies enclosed with the contract of loan
security.
- FOR REFERENCE ONLY -
BORROWER
REPRESENT
ATIVE
CERTIFICATION OF
TECHNICAL STAFF (OR
AGENCY OF VALUABLE
PAPERS MANAGEMENT)
(Signed, named, (Signed, named, sealed
sealed
SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness
CREDIT
STAFF
(Signed,
named,
sealed
VBSP
DIRECTOR
(Signed,
named, sealed
Form 03/BĐTV
(formulated by the bank
& customer)
MORTGAGE CONTRACT OF THE THIRD PARTY
No.: ………...
- Pursuant to the Civil Law in 2005 dated 14th June 2005 and relevant law
documents;
- Pursuant to Decree No.163/2006/NĐ-CP dated 29th December 2006 of
the Government on security transaction;
- Pursuant to Document No.2478/NHCS-TDSV dated 4th Sept. 2009 of the
General Director of Vietnam Bank for Social Policies (VBSP) on instructing to
conduct loan security methods in the VBSP system;
- As agreed among parties.
Today, dated... year ......... in/at ................, we include:
Mortgagee (party A):
Vietnam Bank for Social Policies..................................................................
Address: ........................................................................................................
Telephone :……….......................…….Fax: .................................................
Representative Mr./Ms.: .....................................position......:......................
Authorised paper (if any): ..............authorised by Mr./Ms. ...........................
Mortgager (party B):
Full name: .......................................................................................
Address: ........................................................................................................
Telephone :……….......................…….Fax: .................................................
Representative Mr./Ms.: .....................................position......:......................
- FOR REFERENCE ONLY -
Identification No.: ...............................issued on date……………
in/at:...........................
Secured party (party C):
Full name: .......................................................................................
Address: ........................................................................................................
Telephone :……….......................…….Fax: .................................................
Representative Mr./Ms.: .....................................position......:......................
Identification No.: ...............................issued on date……………
in/at:...........................
The two parties make agreement that party B mortgages property to conduct
the obligation of loan security as follows:
- Credit contract No: ..............................dated . . . month . . . year...... . . .
- Credit contract No: ..............................dated . . . month . . . year...... . . .
With the following agreement content:
Article1. Scope of security:
Loan amount: ....................................................................................... VNĐ
(by letters: ..............................................................................................).
In which:
- Principals: …………………………… VND
- Interest, overdue interests, fees (if any)………. . . . . . . . . . . . VND
Article 2. Party B make a commitment to mortgage the property in order for
party C (the following category to borrow loans in VBSP (party A)
No PROPERT
. Y NAME
QUANTI
TY
TYP
E
PROPER
TY
PAPERS
TECHNICA
L
FEATURE
ARIS
VA
ING
LU
PRO
E
FITS
Total
Article 3. Agreement on keeping the mortgaged property and papers:
Party A hold following mortgage properties and papers:
- .......................................................................................................
- FOR REFERENCE ONLY -
.............................................................................................................
- .......................................................................................................
...............................................................................................................
Article 4. Rights and obligations of party A
Rights of party A:
1) To request the securing party to repay debts as committed instead of the
customer, if on due maturity, party C does not exercise or exercise the debt
repayment obligation wrongly;
2) Hold/not hold mortgage property. Hold original certificate of property
ownership
3. To request the securing party to provide information on property;
4. To exploit/not exploit the use or benefits from properties;
5. To request the securing party or the 3rd party to stop using or
supplement property or replacing by other security way if lost or broken down;
6. To realize property for loan collection.
Obligation of party A
1. To keep properties or relevant papers safe if party A keeps as agreed.
2. To forbid selling, exchanging, offering, for lease, lending, contributing
capitals to joint venture and use properties for security of other obligation if party
A keeps property.
3. To forbid exploiting use and benefits from property if party B disagree.
4. To compensate damage for property or papers if broken or lost.
5. to return property and papers if party C or party B completed the
repayment obligation.
Article 5. Rights and obligation of party B
Rights of party B
1. To exploit the use or benefits from properties if party B keep.
2. To request party A to stop using and exploiting properties in case party
A keep if exploiting or using causes devaluation of property.
3. To request party A to compensate damage if the property kept by party
A is broken or lost.
4. To receive property or papers after completing the debt repayment
obligation.
Obligation of party B
1. To provide information on property.
- FOR REFERENCE ONLY -
2. Deliver/not deliver to party A. to deliver certificate of property
ownership rights.
3. To register security transaction as regulated by the law.
4. To pay fees for party A (if any).
5. Not to exchange, offer, lease, lend or contribute capitals to joint venture.
6. To forbid selling, using, exploiting property if party A disagree.
7. To compensate damage if lost or broken.
8. To coordinate with party A to conduct procedures of receiving proceeds
from insurance company (if any) for loan collection.
9. To add and replace security method as required by party A.
Article 6. Cases of realizing the mortgaged property
1. After 30 days since the due date of debt repayment, the security property
has not realized as agreed yet.
2. The borrower must repay debt before due date as regulated by the law but
does not exercise or exercise the debt obligation wrongly.
3. The borrower is economic institutions dissolved before due repayment
date, the repayment obligation is considered due maturity even though not due to
repayment yet, if the borrower does not repay and realize security property, the
institution has the rights of property realization for debt collection.
4. Realization of security property if the borrower and the securing party
are enterprises which are separate, merged, changed or equitized.
Article 7. Method of security property realization
The two parties make agreement on realization of security property set
forth in chapter IV, Decree No. 163/2006/NĐ-CP):
- ........................................................................................................
- ........................................................................................................
Article 8. Supplementation & adjustment
- ...................................................................................................................
- ........................................................................................................
Article 9 Other agreements
- .....................................................................................................................
- .................................................................................................................
Article 10. Common commitment
The two sides make commitments to follow the conditions of contract. If
arising dispute, the two sides negotiate altogether. If fails, it requires
authorities to settle or proceed to the law.
Any amendment and supplementation in this contract has to be agreed
between two parties.
- FOR REFERENCE ONLY -
This contract is made....copies with the same value, each party keeps
each copy.
The contract takes effect since date....month....year....until party B
completes the repayment obligation and the the mortgaged property has been
realized for loan collection or the parties make agreement about replacing by
other security methods.
Securing party
Secured party
( Sign, name, seal. If the mortgager (Signed, sealed)
has the co-owner, it requires the
signature of representative and coowner)
- FOR REFERENCE ONLY -
VBSP director
(Signed, sealed)