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THE
GOVERNMENT
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SOCIALIST
REPUBLIC OF VIET NAM
Independence - Freedom – Happiness
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No.
30-CP
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Hanoi
,May 09, 1996
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DECREE
REGARDING THE REGULATION ON THE ISSUE AND USE OF CHECKS
THE GOVERNMENT
Pursuant to the Law on Organization of the
Government of September 30, 1992;
At the proposal of the Governor of the State Bank,
DECREES:
Article 1.- To issue
together with this Decree the Regulation on the Issue and Use of Checks
applicable on the Vietnamese territory.
Article 2.- This Decree
takes effect on the 1st of July 1996. All the earlier regulations concerning
the issue and use of checks are now annulled. The Governor of the State Bank
shall guide the implementation of this Decree.
Article 3.- The Ministers,
the Heads of the ministerial-level agencies, the Heads of the agencies attached
to the Government and the Presidents of the People’s Committees of the
provinces and cities directly under the Central Government shall have to
implement this Decree.
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FOR THE
GOVERNMENT
THE PRIME MINISTER
Vo Van Kiet
REGULATION ON THE ISSUE AND USE OF CHECKS
(issued together with Decree No.30-CP of May 9, 1996 of the
Government)
Chapter I
GENERAL PROVISIONS
Article 1.- A check is
the money payment order of an account owner, made according to the form
prescribed by the State Bank to ask the paying unit to deduce a sum from the
deposits of the check issuer to pay to the beneficiary named in the check or
the check bearer.
A check can be assigned according to the
prescriptions in this Regulation.
Article 2.- The
following terms used in this Regulation shall be construed as follows:
- Check owner is the person in whose name the
account of payment deposits is opened and who is the owner or representative of
the owner of the sum recorded in this account.
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- Check beneficiary is the person entitled to
the ownership of the sum recorded in the check.
- Check assigner is the person who assigns the
right of ownership of the sum recorded in his/her check to another person.
- Paying unit is the unit keeping the deposit
account of the check owner and is licensed by the authorized agency to conduct
payment services.
- Assigned receiving unit is the unit in its
capacity as agent for the check beneficiary to receive the money on his/her
behalf. A unit pertaining to the same system of the payment unit is also
regarded as an assigned receiving unit when it receives the check.
- Check payment warrant is the certification by
the paying unit that the check is payable.
- Signed check is the check in which the name of
the beneficiary of the check is written.
- Unsigned check: is the check in which the name
of the beneficiary of the check is not written.
Article 3.- The check
issuer, the check assigner and the check beneficiary may be an individual or a
representative with a legal status;
Article 4.- The check
issuer and the check assigner shall take responsibility for the check from the
moment he/she signs to issue the check or assign it until the end-beneficiary
has received the full sum.
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Chapter II
FORM AND CONTENTS OF
CHECKS
Article 6.- A check
shall be printed and filled in Vietnamese and include the main following
specifications:
On the front side:
- The word "Check" printed in block
letters;
- The serial number of the check;
- The payable sum written in number and in
letters;
- The name, family name and address of the check
issuer and the number of his/her account;
- Name, family name, address of the beneficiary
and the number of his/her account (if any);
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- Place and date of signing and issue of the
check;
- Signature of the check issuer.
The back side of the check shall be used to
specify the assignment .
Article 7.- A valid
check must meet all the demands defined in Article 6 of this Regulation. It
admits no erasure nor correction. The figures written in letters and in numbers
must correspond with each other.
Article 8.- The
correction or amendment to the elements in the check must be defined by the
Governor of the State Bank. All additions to the check related to the interest
rate or the payment terms shall be considered invalid.
Article 9.- A check
shall be used:
- To pay to the person named in the check;
- To pay to the bearer of the check;
- To make cash withdrawal at the paying unit.
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Article 11.- The valid
time for the payment of a check is 15 days.
Chapter III
RIGHTS AND OBLIGATIONS
OF THE CHECK ISSUER
Article 12.- An account
owner may delegate another person to sign for issuing a check on his/her
behalf. This delegation must be made in writing in accordance with
prescriptions of law. The assignee to sign for issue of a check has the same
rights and obligations as the owner of the account within the limit of his
mandate.
Article 13.- The check
issuer shall have to assure payment of the whole sum written in the check.
The check still retain its value of a payment
instrument even after its issuer who is an individual dies, or is declared
legally incapable by a court, or is restricted in his/her capacity of civil
acts.
With regard to a check issued by a
representative with legal status, if that legal person is dissolved, is
declared insolvent or has its accounts frozen, the check shall be paid
according to the decision of the authorized agency.
Article 14.- The check
issuer may ask the paying unit to stand guarantee for the check to be issued.
The guarantee shall be effected through the
certification signed by the paying unit and the affixture of the seal
"Guarantee" on the front side of the check.
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Article 15.- When a
check issuer loses his/her check, he/she must immediately inform the paying
unit. This notice shall be considered an order to suspend the payment of the
check.
The person, who loses a check that has been
misused to withdraw money at the paying unit before the latter has been
informed of the loss, shall have to bear all the loss therefrom.
Chapter IV
RIGHTS AND OBLIGATIONS
OF THE BENEFICIARY
Article 16.- Within the
valid time for payment of the check, the beneficiary may remit the check either
directly to the paying unit or through the assigned recipient in order to ask
for payment. If, for a reason of force majeure the check cannot be remitted within
the valid time for payment, after this force majeure period the beneficiary of
the check must remit it immediately to the paying unit together with the
written certification of the People’s Committee of the commune or ward where
the check issuer resides or works about the force majeure reason.
Article 17.- The
beneficiary of the check may assign it to another person by signing to the
given place on the back side of the check, unless the check issuer has written
the words "not assignable".
For a signed check, when assigned, it must
record the name of the assignee.
The assigner of the check may terminate the next
assignment by writing before his/her signature the words "assignment
discontinued".
Article 18.- If, after
signing the assignment of the check, the assigner who is an individual dies or
is declared incapable of legal actions by the court or is restricted in his/her
capacity for civil acts, the check still retains its validity as payment order.
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Article 19.- When a
check issuer assigns his/her check, he/she must assign the whole sum in the
check.
Article 20.- For a
signed check, at the time of the assignment, the assignee shall have to check
the continuity in the succession of signatures on the assignment.
Article 21.- The
beneficiary of a check who loses it must notify immediately the paying unit and
the check issuer. The notice of check loss shall be considered an order of
suspension of payment of the check. The person who notifies of a check loss
shall have to take responsibility for the accuracy of the notice on check loss.
The recipient of a check may ask the paying unit
to pay compensation in case the check has been misused to withdraw money at the
paying unit after the latter has received the check loss notice.
Article 22.- When a
check is denied payment, the beneficiary may ask the paying unit to name the
reason.
Chapter V
RIGHTS AND
RESPONSIBILITY OF THE PAYING UNIT
Article 23.- When
receiving a check, the paying unit must check the following:
- The validity of the check;
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- The continuity in the succession of the
signatures if it is a signed check.
Article 24.- The paying
unit has the right to refuse payment of a check in the following cases:
- The account of payment deposit falls short of
the money for the payment of the check;
- The check is not valid;
- There has been an order to suspend payment of
the check;
- The valid time for payment has expired;
- The signature for check issue is beyond the
competence defined in the assignment document.
The payment unit shall have to issue a bill on
the refusal of payment, name in writing the reason and hand it to the check
remitter together with the check which is refused payment.
Article 25.- The paying
unit shall have to pay immediately if the check is valid when it is remitted
for payment. If the delay in the payment is due to the fault of the paying unit
and causes damage to the beneficiary, the paying unit shall have to pay
compensation.
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The paying unit is entitled to sue the
individuals or legal persons who take acts causing damage to the paying unit
and ask compensation for the damage which has been done to it.
Chapter VI
RIGHTS AND OBLIGATIONS
OF THE ASSIGNED RECEIVING UNIT
Article 27.- The unit
assigned to receive the check on behalf of another must check the validity of
the check when receiving the check.
The assigned receiving unit is entitled to take
a fee for the check payment service as prescribed by the State Bank and shall
not have to refund the fee if the check is refused payment.
Article 28.- The
assigned receiving unit has the right to refuse to receive the check in the
following cases:
- The check is not valid;
- The valid time for payment of the check has
expired.
Article 29.- After
receiving the check, the assigned receiving unit must immediately remit the
check to the paying unit. If the delay in remitting the check causes damage to
the beneficiary, the assigned receiving unit shall have to pay compensation. If
for a force majeure reason it cannot remit the check immediately, when the
force majeure time limit has terminated, the assigned receiving unit must remit
the check in time to the paying unit together with the written certification of
the force majeure reason by the People’s Committee of the commune or ward where
the assigned receiving unit is located.
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COMPLAINT AGAINST
REFUSAL TO PAY A CHECK
Article 30.- In case a
check is refused payment, the beneficiary may file a complaint against the
person who signs to issue the check and the check assigners to claim back the
money written in the check.
The written complaint must be attached to the
bill refusing payment of the check from the paying unit.
Article 31.- For a
signed check, the beneficiary shall send the complaint directly to the assigner
and the issuer of the check. A complaint shall be valid only when it is written
and sent within four working days after reception of the bill refusing to pay
the check. Upon receiving the complaint, the check assigner shall, in his/her
turn, have to notify the previous assigner within four working days. Such
notification shall proceed on to all the assigners until it reaches the check
issuer.
For an unsigned check, the recipient shall have
to send his/her complaint to the check issuer within four working days after
receiving the bill refusing to pay the check.
Article 32.- If for a
force majeure reason, the time limit for sending the complaint may be extended
to the end of the time of the force majeure reason. The reason of force majeure
shall have to be certified in writing by the People’s Committee of the commune
or ward where the beneficiary resides or works.
Article 33.- If the
check is refused payment due to the expiry of the valid time for payment, the
check beneficiary shall lose his/her right to complain except for the cases
stipulated in Article 32 of this Regulation. However, the check still has the
value as an evidence for the beneficiary to claim back his/her money before the
court.
Article 34.- Upon
receiving the complaint, the receiver shall have to reply to the check
beneficiary. In case the complaint is accepted, the receiver of the complaint
shall have to repay the money to the check beneficiary and also has the right
to file a complaint to claim back the money from the previous assigners of the
check (if any).
Chapter VIII
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Article 35.- After
sending the complaint to ask for payment, if he/she does not agree with the
settlement proposed by the complainee, the check beneficiary may file a law
suit to the court against one or all the persons responsible for the check.
The suing dossier shall comprise:
- The suing petition;
- The check which has been denied payment;
- The bill refusing payment of the check written
by the paying unit.
Article 36.- The
beneficiary is entitled to file a legal action to claim the sum written in the
check and the following items:
- The interest of the sum written in the check
calculated according to the interest rate of overdue debts in the category of
bare interest rates for short-term loans prescribed by the State Bank. The time
for calculating the interest begins from the date the beneficiary remits the
check asking for payment till the date of payment;
- The expenses related to the sending of the
complaint and the filing of the legal action already spent by the beneficiary.
Article 37.- The sued
assigner of the check may sue the previous assigners or the check issuer in
order to claim back the whole of the money he/she has paid and other related
expenses he/she has incurred.
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Article 39.- The
beneficiary may sue the persons responsible for the check to claim back the
money within three months after the check is refused payment.
The sued person may, in his/her turn, sue the
other persons responsible for the check within three months after the
termination of the legal action against him/her.
In case of a force majeure reason, the above
statute of limitation may be extended till the termination of the force majeure
period. The force majeure reason must be certified by the People’s Committee of
the commune or ward where the suer resides or works.
Chapter IX
INHIBITIONS AND HANDLING
OF VIOLATIONS
Article 40.- The
following acts are strictly forbidden:
- Faking or fiddling the check;
- Deliberately delivering and receiving a faked
check, a fiddled check, a check of which the payment valid time has expired, or
a check of which order has been issued for suspension of payment;
- To issue a check which is above the sum
deposited for payment;
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- To assign a check which has expired its
payment valid time or a check which has been refused payment.
Any organization or individual that violates the
above inhibitions shall, depending on the seriousness of the violation, be
subject to administrative sanctions, prohibited from check issuing or be
examined for penal liability as provided for by law.
Article 41.- The paying
unit and the assigned receiving unit which violates the stipulations in this
Regulation shall, depending on the extent of the violation, have to compensate
for damage, be subjected to administrative sanctions, prohibited from
performing the task or service of paying the checks, or shall be examined for
penal liability as prescribed by law.