It shows that ensuring the correct and complete implementation of obligations and jobs is an extremely necessary thing. Besides, the registration of security measures will prevent and prevent violations of obligations causing serious consequences in civil transactions. So what is the guarantee? How does Vietnamese law provide for security measures? Let’s find out with Lawyer X through the following article:
Legal grounds
Civil Code 2015
Decree 102/2017/ND-CP registration of security interests.
What is the guarantee?
A security measure is a special type of liability in which the parties can agree on the scope of responsibility, the degree of responsibility, the degree of responsibility, and also the form and method of applying the responsibility. They can apply themselves according to the agreed measures without depending on the will of a third party. Furthermore, the right holder is always the first to receive payment from the auction amount of the secured object. It is a special right of a secured creditor to protect the most existing rights and legitimate interests of the obligee in a civil obligation relationship.
Features of security measures
– Security measures are complementary to the secured obligation. This means that each collateral that attached to one or more secured obligations; which maybe a future obligation or a present obligation.
– Security measures which intended to enhance the responsibility of the parties in civil relations. Normally, when setting up collateral contingencies, the parties aim to improve the obligation of the obligor to perform the obligations.
– The subject matter of security measures is usually material interests; which specifically here is usually property. These subjects must have enough elements that the law has required for subjects of civil obligations in general.
– The scope of the security must not exceed the scope of the secured obligation; even though such obligation may be secured in whole or in part by agreement or by law and if there is no agreement and the law does not provide for the scope of such security; the obligation shall be deemed to be fully secured including the obligation to return, fines, and compensation for damage.
– Constraints of obligation apply only when there is a breach of the obligation; This means that collateral cannot apply if the secured obligation fully performed.
What is registration of security?
According to the provisions of Decree 102/2017/ND-CP, registration of security interest means the registration of a security interest in the register or input into the database by the guarantor about the use of assets by the guarantor to secure the performance of a security interest. obligations to the secured party.
Which transactions are required to be secured?
Cases of registration of border guards specified in Decree 102/2017/ND-CP include:
– Mortgage of land-attached assets in case such property has been certified with ownership rights on the Certificate of land use rights, ownership of houses, and other land-attached assets
– Pledge of aircraft, mortgage of aircraft
– Mortgage of ships
A security transaction is an agreement between the parties on the selection of one of the measures prescribed by law to secure the performance of a civil obligation. With the nature of a preventive effect to prevent and overcome bad consequences due to non-performance or improper performance of the obligation, the obligee will handle to ensure the performance of the obligation.
Conditions for opening a securities account
- Provide information on the identity card or citizen identification
- Phone or Laptop with photo function
- Laptop and phone, tablet with Internet, Wifi or mobile data
- Provide information about bank account number transfer to ensure a smooth withdrawal
Procedures for opening a securities account
Open an account at the counter
Investors in Ho Chi Minh City or Hanoi can directly go to the headquarters and branches of securities companies to open an account. When going, it is necessary to prepare personal information such as identity card (citizen identification), personal information and bank account number to fill out, sign and write full name in the contract to open an account. securities transactions. Opening an account at the counter usually takes about 15 minutes, after which investors can make transactions.
Open an account online
Investors who are far away or do not have the time and conditions to register directly can open an account by accessing the website of the securities company to open an online account (EKYC). Once completed, the securities company will contact the investor to confirm the account opening
Related article:
Procedures for project land allocation and project land lease
General legal regulations on investment guarantees in Viet Nam 2022
Frequently asked questions
– A secured transaction is considered a sub-contract that secures the main obligations, but the validity is no longer dependent on the main obligation.
– The object is the property.
Pledge property; mortgage property; deposit; deposit bets; or deposit reserve the right of ownership; guarantee; mortgage; hold property
So, Collateral can be existing assets or assets formed in the future. Existing assets are assets that have been formed at the time the security transaction is entered into. Future assets are assets owned by the securing party after the time the obligation is established, or secured transaction is entered into. Assets formed in the future include assets already formed at the time of entering into security transactions; but after the time when the transaction is concluded, it is owned by the securing party.
Services of Lawyer X.
Prestigious professional services: Firstly, the team of consultants and consultants for many years in the field of civil status, and customer support.
On-time: Certainly, with the motto “Get your lawyer right at your fingertips”, we ensure the service always performs on time. The rights and interests of customers always come first.
Cost: Besides, Lawyer X’s service costs are highly competitive; depending on the nature of the particular case. So, we want our guests to have the best possible service experience. Therefore, costs which guaranteed to be the most suitable and economical for customers.
Confidentiality of client information: Finally, all personal information of client Lawyer X will be 100% confidential.
Please contact us immediately with questions about the “Transactions require registration of a security in Vietnam”
Contact LSX Lawfirm
Finally, we hope this article is useful for you to answer the question: “Transactions require registration of a security in Vietnam”. If you need any further information, please contact LSX Law firm: at +84846175333 or Email: [email protected]
Conclusion: So the above is Transactions require registration of a security in Vietnam. Hopefully with this article can help you in life, please always follow and read our good articles on the website: lsxlawfirm.com
