Product's detail
VRB purchases for terms or purchases with reservation for the recourse of valuable papers of the beneficiary before maturity.
Benefits
Competitive & attractive interest rate.
Quick and convenient lending procedures.
Flexible methods of discount.
Customers’ conditions
1. Vietnames individuals or foreign individuals who are operating, residing lawfully in Vietnam, have civil legal capacity as prescribed in the Civil Code on the civil legal capacity of the foreign legal entities and foreign individuals.
2. Being the owner of valuable papers being allowed to issue in Vietnam’s territory.
3. Ensure financial capability for re-purchase of valuable papers or full payment of discount amount, discount interest and other legal costs to VRB under agreements written in contract of discount.
4. Use discount amount for legal purposes.
5. Compliance with regulations about credit default, credit restriction regulated in Law on Credit Institutions.
6. The customer has not bad debt at credit institutions.
Valuable papers' conditions
Types of valuable papers allowed to be discounted
1. Valuable papers group I: valuable papers issued by VRB.
2. Valuable papers group II: valuable papers issued by:
a) BIDV including term bills, bills, deposit certificates and bonds.
b) The State Bank, the Government including:
- Bills of the State bank;
- Bonds of the Government;
- Bonds guaranteed by the Government.
Conditions for discount of valuable papers
1. They are issued legally as prescribed by law of Vietnam;
2. They belong to the legal beneficial right of customers, have no dispute, are not used for mortgage or guarantee for other obligations;
3. They are permitted for transactions (purchase, sale, donation, conversion, transfer, mortgage, guarantee and other lawful transactions) as prescribed by law;
4. They are not yet matured;
5. They are intact, not erased, repaired;
6. To be completed the procedures for transfer of ownership of valuable papers at the request of customers and VRB by the issuing organization.
Methods of discounting
1. Discount for terms of valuable papers.
2. Discount with reservation for the recourse of valuable papers.
Procedures
Required documents
1. Valid identity card/ passport of the customer – copy;
2. Valuable papers/ Certificate of ownership of valuable papers – original;
3. Proposal cum discount contract of valuable paper – original;
4. Documents proving purpose of using discount amount – copy;
5. Documents proving financial capacity of customer – copy;
6. Request for transfer of ownership of valuable papers to the Bank - original.
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