In business activities among enterprises, when the transaction parties are businesses, many people often think that the obligation to pay off debts is solely the responsibility of the company and does not extend to the personal liability of those managing the company....
The right to debt collection is an arising right between the debtor and the creditor in civil relations, in which the creditor has the right to demand payment from the debtor, and conversely, the debtor must repay the debt to the creditor. However, in some cases, the...
The 2015 Civil Code stipulates fidelity guarantees as a measure to ensure the performance of obligations. The direct purpose of fidelity guarantees is to help individuals and poor households gain access to credit sources for production, business, and consumption...
Dear valued Customers and Partners, We are pleased to introduce to you our Legal Newsletter, which summarizes the key legal documents of October 2023, including: – Notable contents of Circular No. 12/2022/TT-NHNN on guidelines for foreign exchange administration...
The guarantor-creditor relationship arises through an agreement between the guarantor and the creditor via a guarantee contract. Based on legal provisions regarding guarantees, guarantee fulfilment follows the principles of i) conditional guarantees, where the...
An escrow deposit is a measure to ensure the performance of obligations by the obliged party. Typically, the obliged party will deposit a sum of money into a restricted account at a credit institution. If the secured obligation is violated, the credit institution will...
