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THE MINISTRY OF TRADE - THE MINISTRY OF
INDUSTRY
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SOCIALIST REPUBLIC
OF VIET NAM
Independence -
Freedom - Happiness
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No.15/2005/TTLT-BTM-BCN
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Hanoi, August 09, 2005
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JOINT CIRCULAR
GUIDING
THE DEPOSITING/GUARANTEE FOR IMPLEMENTATION OF EXPORT TEXTILE AND GARMENT
QUOTAS
Pursuant to the Government’s Decree No. 29/2004/ND-CP dated January 16,
2004 defining the functions, tasks, powers and organizational structure of the
Ministry of Trade;
Pursuant to the Government’s Decree No. 55/2003/ND-CP dated May 28, 2003
defining the functions, tasks, powers and organizational structure of the
Ministry of Industry;
At the proposal of the Vietnam Textile and Garment Association,
The Ministry of Trade and the Ministry of Industry hereby jointly guide the depositing/guarantee
for the implementation of export textile and garment quotas as follows:
I. GENERAL PROVISIONS
1. Definitions
a) Depositing for implementation
of textile and garment quotas: Traders shall commit to implementing export
textile and garment quotas by depositing a sum of money corresponding to the
volume of registered or assigned quotas at the deposit level jointly set by the
Ministry of Trade and the Ministry of Industry, into the custody account of the
Ministry of Trade at the Hanoi State Treasury.
b) Bank guarantee for
implementation of textile and garment quotas: Traders shall submit to the
Ministry of Trade a bank’s guarantee letter for the volume of registered or
assigned quotas (which have not yet been used up) stating the guarantee amount
as jointly set by the Ministry of Trade and the Ministry of Industry.
The form of bank guarantee
letter shall be jointly stipulated and notified in detail by the Ministry of
Trade and the Ministry of Industry.
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Traders may participate in the
production and export of textiles and garments subject to quota according to
current regulations.
Traders may choose either or
both of form(s) of depositing and/or bank guarantee for registration of
implementation of quotas.
Regarding administration of
textile and garment quotas, to supplement the regulations on inspection of the
capability of new traders that have not yet been assigned or allocated or have
not yet implemented export textile and garment quotas as follows: New traders
must have at least 100 industrial sewing-machines or other machinery or
equipment suitable to the requirements of production of products registered for
export (with a written certification on machinery, equipment and textile and
garment production capability, given by the inter-branch inspection team headed
by the provincial/municipal Trade Service under Notice No. 0577/TM-DM dated May
20, 2005).
II. REGULATIONS ON DEPOSITING AND BANK GUARANTEE IN ADMINISTERING
TEXTILE AND GARMENT QUOTAS
1. Basing themselves on the
export situation, the Ministry of Trade and the Ministry of Industry shall
jointly publicize a list of goods categories and the levels of their deposit
and guarantee money, serving as a basis for the payment of deposits and the application
for bank guarantee.
Basing themselves on the export
situation, the Ministry of Trade and the Ministry of Industry shall jointly
publicize a list of goods categories and the levels of their deposit and
guarantee money, serving as a basis for the payment of deposits and the
application for bank guarantee.
2. The principles, volumes and
modes of assignment and allocation of quotas in the forms of depositing and
bank guarantee shall be notified jointly by the Ministry of Trade and the
Ministry of Industry for each category at each specific time.
The principles, volumes and
modes of assignment and allocation of quotas in the forms of depositing and
bank guarantee shall be notified jointly by the Ministry of Trade and the
Ministry of Industry for each category at each specific time.
3. Quotas allocated in the form
of payment of deposits and/or submission of guarantee letters may be used for
the production and export of goods only, are non-transferable and entrusted
export is disallowed.
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4. Return of quotas and refund
of deposit/bank guarantee money
4.1. Return of quotas
- For quotas with a term of 45
days or longer, within 10 days after paying the deposit and/or submitting the
bank guarantee letter or after being allocated quotas according to deposit
and/or bank guarantee, traders that are incapable of exporting or implementing
assigned quotas as committed shall have the whole deposited amount refunded
and/or the bank guarantee letter released if they send official letters on
returning quotas to the Ministry of Trade.
- At least 60 days before the
expiration of the term of quotas or before the last day of goods delivery
stipulated in quotas (depending on which date comes first), traders may return
all or part of the quotas allocated in the form of depositing and/or bank
guarantee but shall be fined by the Ministry of Trade an amount equal to 20% of
the value of the deposit or bank guarantee money amount for the returned quota
volume. The returned quota volume shall be used for assignment and allocation
according to general regulations.
4.2. Refund of deposit and bank
guarantee money
a) For traders that have
fulfilled the assigned quotas:
Traders that have implemented
95% or more of quotas allocated by mode of depositing and/or bank guarantee
within the effective duration of quota assignment notices shall be regarded as
having fulfilled the quotas and have the deposit principal fully refunded
and/or the bank guarantee letter released.
b) For traders that have not yet
used up quotas:
By the end of the effective time
limit of quota assignment notices:
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+ If traders have implemented
between 50% and under 95% of quotas allocated by mode of depositing and/or bank
guaranteem the Ministry of Trade shall refund part of the deposit corresponding
to the volume of implemented quotas and/or request the guaranteeing bank to
transfer the money amount corresponding to the volume of quotas not yet
implemented by traders into an account designated by the Ministry.
All amounts collected from
traders’ non-compliance with regulations shall be remitted into the state
budget.
5. The Ministry of Trade and the
Ministry of Industry shall jointly sum up the implementation of quotas by these
modes and base themselves on the actual production/business situation in each
period to make necessary and appropriate adjustments by issuing guiding
document or specific notices.
The Ministry of Trade and the
Ministry of Industry shall jointly sum up the implementation of quotas by these
modes and base themselves on the actual production/business situation in each
period to make necessary and appropriate adjustments by issuing guiding
document or specific notices.
This Joint Circular takes effect
15 days after its publication in "CONG BAO" but shall cease to be
effective if the Prime Minister does not permit its implementation, even when
it has been published in "CONG BAO".
FOR THE MINISTER OF TRADE
VICE MINISTER
Le Danh Vinh
FOR THE MINISTER OF INDUSTRY
VICE MINISTER
Bui Xuan Khu