I. What is a credit dispute?

In normal operations, most entities have loan transactions with banks or credit institutions (collectively referred to as credit institutions). This loan transaction is performed through a credit contract and security agreement (in case there is collateral).

Thus, it can be understood that credit disputes are disputes arising during the performance of credit contracts and security agreements. In reality, the party initiating a lawsuit over the credit dispute usually is a bank or credit institution, and the defendant is an enterprise that borrows money but fails to pay principal and interest on time.

II. Types of credit disputes often arise

Between credit institutions and enterprises, it will be able to arise disputes over the following issues:

  • Disputes arising in the performance of the borrower’s obligation to repay principal and interest to a credit institution;
  • Disputes over guarantee performance with credit institutions;
  • Disputes over collateral in credit contract with the third party in case the borrower perform a transaction of transferring, leasing, gifting, mortgaging, or contributing capital with secured asset to a third party;
  • Disputes over the liquidation of collateral in case the borrower is unable to pay the principal and interest to the credit institution.

III. Who are TNTP’s Clients in credit disputes?

In credit disputes, TNTP’s Clients may include the following subjects:

  • The borrowing enterprises;
  • Credit institutions; or
  • A third party involved in a credit dispute (co-owner of the collateral; a third party who is assigned, leased, given, mortgaged, contributed capital with security assets and other subjects if any)

IV. What do Clients need to prepare before working with TNTP?

Before working with TNTP, Clients need to prepare the following information, documents:

  • Credit contracts and other types of contracts, documents related to borrowing such as Property Mortgage Contract, Guarantee Contract, Commitment Minutes, …
  • Documents on the process of borrowing and repaying the principal and interest of the enterprise to the credit institution;
  • Other types of documents related to the credit dispute (if any).

Besides, in the case related to the liquidation of collateral, the credit institutions has initiated a lawsuit and the Court’s judgment has taken legal effect, if the credit institutions want to liquidate the collateral of the borrower, credit institutions need to provide TNTP with judgment having legal effect of the Court and documents proving that the borrower is unable to repay the principal and interest, which leads to the liquidation of security asset.

V. How does TNTP receive and process information?

When Clients contact TNTP, TNTP’s Lawyers will receive and process information as follows:

  • Step 1: Based on the information, documents provided by Clients as well as discussions with Clients, Lawyers of TNTP will research the case and give some initial consultation.
  • Step 2: Then, TNTP will send a Quotation attached to a detailed implementation Plan to Clients so that Clients can consider signing Legal Service Agreement with TNTP.
  • Step 3: In case Clients agree with the Quotation, TNTP will send a Legal Service Agreement to Clients. The Parties will sign Agreement and Clients will pay legal services fee to TNTP (if any).

Kindly be noted that the legal service fees of TNTP are exclusive of Value Added Tax, court fees, arbitration fees, fees according to state regulations, travel expenses for lawyers, translation, photocopying, notarization, and authentication fees, long-distance telephone, postage charges, and other reasonably incurred expenses. In case the above-mentioned expenses are incurred, TNTP will propose opinions to Clients and TNTP will only perform the work if Clients agree to pay reasonably incurred expenses.

After signing the Agreement and receive service fees (in case there is a fixed service fee), TNTP will perform works according to the Quotation and the implementation Plan that Clients has agreed.

VI. TNTP’s commitment to legal service

With the attitude of protecting the legal rights and interests of the Client, TNTP has been and will try to bring Clients trust and comfort when using TNTP’s legal services.

Throughout the process of providing legal services, TNTP commits to support Clients and perform the work in the fastest, most timely and effective way, regularly report the progress of the case as well as give the next plan so that Clients can easily monitor and evaluate the work results.