Vietnam: Cases where individuals and organizations are entitled to register asset-based security

ADK Lawyers

13th February 2023

On November 30, 2022, the Government issued Decree No. 99/2022/ND-CP on security registration (hereinafter referred to as “Decree 99/2022/ND-CP”).

On November 30, 2022, the Government issued Decree No. 99/2022/ND-CP on security registration (hereinafter referred to as “Decree 99/2022/ND-CP”).

Accordingly, Decree 99/2022/ND-CP has provided 04 (four) cases where individuals and organizations are entitled to register asset-based security, including:

(i) Firstly, the registration of mortgage of property, pledge of property and reserve of ownership rights in accordance with Civil Code and other relevant laws;

(ii) Secondly, the registration under an agreement between the securing party and the secured party or at the request of the secured party, except for retention of property;

(iii) Thirdly, the registration of notice of disposal of security property in case an asset is used to secure the performance of many obligations in which more than one party is jointly secured or in the case of an agreement between the securing party and the secured party;

(iv) Fourth, the registration of changes to the registered content (registration of changes); deregistration of registered content (deregistration) for the case specified in sections (i), (ii) and (iii) above.

Decree 99/2022/ND-CP takes effect from January 15, 2023.

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