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The Decree on appraisal of the starting price of bad debt and collateral for bad debt is coming

At the Resolution of the Government's regular meeting in April 2017, the Government assigned the State Bank to assume the prime responsibility and coordinate with the Ministry of Justice and the Government Office in collecting opinions of the Government on the revision and finalization of this Decree. Prime Minister signed before May 15.


The Decree will detail the appraisal of the starting price of bad debts, collateral assets of bad debts and the establishment of the Council for auction of bad debts and collaterals of bad debts for bad debts. And the collateral of bad debt is of great value.

Earlier, in early March, the SBV collected comments on the Draft Decree of the Government detailing the appraisal of the starting price of bad debt and collaterals of bad debts and the establishment The Council for the auction of bad debt and collaterals of bad debts for bad debts and collateral assets of bad debts are of great value.

According to the draft decree, there are three cases where the valuation of the bad debt and collateral assets of the bad debt should be appraised by the Vietnam Asset Management Company (VAMC).

First is the bad debt is purchased by VAMC at the book value by special bonds, which, when determining the starting price for auction, VAMC can not agree with the credit institutions to sell the debt at the reserve price.

The second is bad debt that VAMC bought at market value.

Third is the security asset of the bad debt that VAMC can not agree with the securing party on the reserve price when determining the reserve price for the auction.

Regarding the selection of the price appraising enterprise to appraise the starting price of the bad debt and collateral assets of the bad debt, the draft decree clearly states that VAMC shall publicly announce the hiring of the enterprise. Valuing at least five (05) working days on the Portal of the State Bank of Vietnam and the website of VAMC for the price appraising enterprises to register.

In addition, VAMC issues, implements and is responsible for the criteria and procedures for considering and deciding the selection of the price appraising enterprise to appraise the starting price of bad debts and security assets. Of bad debt.

The appraisal of the reserve price of bad debts and security assets of bad debts shall comply with the provisions of the price law and the provisions of this Decree.

The draft decree also specifies the Council for auction of bad debts and collaterals of bad debts. Accordingly, VAMC decided to set up a council to auction bad debt, collateral assets of bad debts for bad debts and security assets of bad debts of great value according to regulations.

The Council for auction of bad debts and security assets of bad debts consists of three or more members, including: 1 representative of VAMC's leadership as chairman, 1 auctioneer, 1 representative of debt-selling CI The sale of bad debts, the security assets of bad debts purchased at the book value of special bonds), representatives of VAMC related units, other members (if any).

The operation of the auction council bad debt, collateral of bad debt must comply with two principles. First, the auction by the Council of auction bad debt, collateral assets of the bad debt performance must be attended by at least two thirds of the Council members attended.

Second, the Debt Auction Council, the collateral of bad debts, work on the principle of centralization, collective discussion and decision by majority by way of voting or secret ballot. Where the results of voting or the number of votes are equal, the Chairman of the Board shall have the right to make the final decision.

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