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THE STATE BANK
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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Ha Noi , Day 15 month 09 year 1999
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No:
324/1999/QD-NHNN6
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Hanoi, September 15, 1999
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DECISION
PROMULGATING THE REGULATION ON THE EXCHANGE
OF EXPIRED PAYMENT BILLS
THE STATE BANK GOVERNOR
Pursuant to the Vietnam State Bank Law No.
01/1997/QH10 of December 12, 1997;
Pursuant to the Government’s Decree No. 15/CP of March 2, 1993 defining the
tasks, powers and State management responsibilities of the ministries and
ministerial-level agencies;
Pursuant to the Government’s Decree No. 91/CP of November 25, 1993 on
organizing non-cash payment;
At the proposal of the director of the Issue-Storage- Fund Department,
DECIDES:
Article 1.- To issue together with this Decision the
"Regulation on the exchange of expired payment bills".
Article 2.- This Decision takes effect 15 days after its
signing. The State Bank Governor’s Official Dispatch No. 58/CV-NH6 of January
26, 1996 on the handling of expired payment bills now ceases to be effective.
Article 3.- The director of the State Bank’s Office, the
directors of the Issue-Storage-Fund Department, Accountancy-Finance Department,
General Control Department, the heads of units attached to the Vietnam State
Bank; the director of the State Bank’s transaction office, the directors of the
State Bank’s branches in the provinces and centrally-run cities; the general
directors (directors) of credit institutions, the general director of Vietnam
Gold, Silver and Gem Corporation, and the general director of the State
Treasury shall have to implement this Decision.
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FOR THE STATE BANK GOVERNOR
DEPUTY GOVERNOR
Le Duc Thuy
REGULATION
ON THE EXCHANGE OF EXPIRED PAYMENT BILLS
(Issued together with the State Bank
Governor’s Decision No. 324/1999/QD-NHNN6 of September 15, 1999)
Chapter I
GENERAL PROVISIONS
Article 1.- The State Bank’s transaction office and branches
in the provinces and centrally-run cities shall have to organize the exchange
of payment bills (PBs) issued by the State Bank of Vietnam, which have expired.
Agencies, organizations and individuals (called
customers for short) possessing PBs issued by the State Bank of Vietnam, which
have expired for not more than 3 years (except for the case specified in
Article 7 of this Regulation) shall be entitled to the exchange thereof.
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Where the maturity date of a PB coincides with a
holiday, New Year day or weekend, the State Bank’s transaction office,
provincial/municipal branch, credit institution or State Treasury shall be
allowed to exchange such bill on the following working day without collecting
the expiry fee from the customer.
Article 3.- For the PBs left in stock by the end of their
maturity dates and the PBs received under the provisions of Article 2 of this
Regulation (the data must be reported and reflected on the accounting books of
the concerned units), the credit institutions and State Treasury shall, within
15 days after the bills’ maturity, be entitled to remit them free of charge to
the State Bank’s transaction office or provincial/municipal branches where the
concerned units open their bank accounts.
Chapter
II
PROCEDURES FOR THE EXCHANGE OF EXPIRED PAYMENT BILLS
Article 4.- When receiving a customer’s expired PB for
exchange, the State Bank’s transaction office or provincial/municipal branch
shall have to check and determine whether the PB has been issued by the Vietnam
State Bank or not. Where it is unable to determine whether the PB has been
issued by the Vietnam State Bank or not, it must transfer the object to the
Issue-Storage-Fund Department (the Vietnam State Bank) for expertise and
conclusion according to the procedures like for the handling of money suspected
to be fake under current provisions of law.
Article 5.- For PBs which have been expired for not more than
6 months:
The State Bank’s transaction office and
provincial/municipal branches shall have to receive and check them, and if
determining that such PBs have been issued by the State Bank of Vietnam, they
shall be exchanged for customers without asking for any procedures or
applications.
Article 6.- For PBs which have been expired for over 6
months to 3 years:
1. Customers shall have to make applications for
the exchange of expired PBs and send them to the State Bank’s transaction
office or branches in the concerned provinces or cities.
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3. Within 15 days after receiving the reports of
the State Bank’s transaction office or provincial/municipal branches, the
Issue-Storage-Fund Department shall make a sum-up and examination (of the PB
types, their maturity dates and serial numbers) then balance the capital
sources in order to:
a/ Directly handle those PBs which have expired
for over 6 months to 1 year;
b/ Propose the State Bank Governor to handle
those PBs which have expired for over 1 year to 3 years.
4. The Issue-Storage-Fund Department shall
notify the results in writing to the State Bank’s transaction office or
provincial/municipal branches so that the latter may use them as basis for
effecting the exchange. Within 5 working days after receiving such a notice,
the State Bank’s transaction office or provincial/municipal branches shall have
to effect the exchange or notify the customers of the reasons for refusal of
the exchange.
Article 7.- For PBs which have expired for over 3 years due
to force majeure causes: The State Bank’s transaction office and
provincial/municipal branches shall receive the customers’ applications and
send them (together with their proposals ) to the Issue-Storage-Fund
Department. The Issue-Storage-Fund Department shall examine and handle case by
case according to Article 6 (Clause 3, Point b and Clause 4) of this
Regulation.
Chapter
III
FEE FOR THE EXCHANGE OF EXPIRED PAYMENT BILLS
Article 8.- The fee for the exchange of expired PBs shall be
calculated in percentages on the total value of the expired PBs to be
exchanged, as follows:
- 0.5%, for PBs which have expired for 1 to 15
days (except for those PBs which are received according to Article 2 of this
Regulation).
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- 1.5%, for PBs which have expired for over 1
month to 2 months.
- 2%, for PBs which have expired for over 2
months to 3 months.
- 3%, for PBs which have expired for over 3
months to 6 months.
- 4%, for PBs which have expired for over 6 months
to 1 year.
- 5%, for PBs which have expired for over 1
year.
Article 9.- The fee amount collected from customers for the
exchange of their expired PBs shall be accounted into the professional
transaction collections at the State Bank’s transaction office as well as
provincial/municipal branches.
Article 10.- The examination, counting, packaging and
accounting of expired PBs after the exchange thereof shall comply with the
current stipulations of the State Bank.
Chapter
IV
IMPLEMENTATION PROVISIONS
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Article 12.- Any amendments and/or supplements to articles
and clauses of this Regulation shall be decided by the State Bank Governor.
FOR THE STATE BANK GOVERNOR
DEPUTY GOVERNOR
Le Duc Thuy