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THE
STATE BANK
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SOCIALIST
REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No:
1092/2002/QD-NHNN
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Hanoi,
October 08, 2002
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DECISION
ISSUING THE REGULATION ON THE PROCEDURES FOR PAYMENT THROUGH
PAYMENT SERVICE-PROVIDING ORGANIZATIONS
THE GOVERNOR OF THE STATE BANK
Pursuant to Vietnam State Bank Law No.
01/1997/QH10 and Credit Institutions Law No. 02/1997/QH10 of December 12, 1997;
Pursuant to the Government’s Decree No. 15/CP of March 2, 1993 on the tasks,
powers and State management responsibilities of the ministries and
ministerial-level agencies;
Pursuant to the Government’s Decree No. 64/2001/ND-CP of September 20, 2001 on
activities of payment through payment service-providing organizations;
Pursuant to the Prime Minister’s Decision No. 44/2002/QD-TTg of March 21, 2002
on the use of electronic vouchers as accounting vouchers to account and pay
capital of payment service-providing organizations;
At the proposal of the director of the Accounting-Finance Department,
DECIDES:
Article 1.- To issue
together with this Decision the Regulation on the procedures for payment
through payment service-providing organizations.
Article 2.- This
Decision takes effect 15 days after its signing and replaces Parts II and III
of the State Bank’s Circular No. 08/TT-NH2 of June 2, 1994 guiding the
implementation of non-cash payment regulations.
Article 3.- The director
of the Office, the director of the Accounting-Finance Department and the heads
of the concerned units of the State Bank of Vietnam, the directors of the State
Bank’s branches in the provinces and centrally-run cities, the chairmen of the
Managing Boards and general directors (directors) of payment service-providing
organizations shall have to implement this Decision
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FOR THE GOVERNOR OF THE STATE
BANK
DEPUTY GOVERNOR
Vu Thi Lien
REGULATION
ON THE PROCEDURES FOR PAYMENT THROUGH PAYMENT
SERVICE-PROVIDING ORGANIZATIONS
(Issued together with the State Bank Governor’s Decision No.
1092/2002/QD-NHNN of October 8, 2002)
Part I
GENERAL PROVISIONS
Article 1.- This
Regulation on the procedures for payment through payment service-providing
organizations prescribes the order of making, control, circulation and processing
of vouchers as well as accounting of domestic payment transactions through
payment service-providing organizations conducting business activities in
Vietnam.
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Article 3.- Payment
service-providing organizations (hereinafter referred to as banks) must control
customers payment vouchers before accounting and making payments, ensuring that
vouchers are made according to regulations, stamps (if stamp specimens are
registered) and signatures on payment vouchers are exactly the same as the
specimens already registered at the banks (if signatures are hand-written) or
as the electronic signatures already granted by the banks (for electronic
signatures); and that customers payment capabilities are sufficient to pay the
money amounts recorded on vouchers.
For valid payment vouchers, which are secured
with payment capability, the banks shall have to process them accurately,
safely and conveniently; use book-keeping accounts for accounting payment
transactions and keep secret the balances on customers deposit accounts
according to the provisions of law. When accounting transactions arise in the
customers deposit accounts, the banks shall have to send fully and in time
Debit or Credit notices and, at the end of each month, send copies of deposit
account books or deposit account balance notices to the account holders.
The banks shall be entitled to refuse to pay for
payment vouchers that are invalid, not secured with payment capability and, at
the same time, shall not be responsible for relevant contents of the two
customers sides.
Article 4.- Depending on
their reciprocal trading or service provision transactions, customers may
select one of the following payment services:
- Payment by payment order (or accreditative
payment);
- Payment by check;
- Payment by collection or money order;
- Payment by bank card;
- Payment by letter of credit;
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Part II
PROCEDURES FOR EFFECTING
PAYMENT TRANSACTIONS
Article 5.- Payment by
payment order or accreditative payment (hereinafter referred to as payment
orders)
1. Procedures for making payment orders
Payers shall make and send payment orders to the
banks serving them (where they open accounts) to deduct money from their
deposit accounts for payment to the payees:
- If payment orders take the form of paper
voucher, the payers must make them according to set forms and with sufficient
number of copies as prescribed by the banks serving the payers. On payment
orders, all elements must be inscribed fully, clearly and precisely, ensuring
consistency of all copies; all copies of payment orders must be signed and
stamped (if seals are available). The banks serving the payers shall have to
guide their customers to make and process payment orders at their units,
ensuring compliance with current regulations of the State Bank.
- If payment orders take the form of electronic
voucher, they must satisfy data standards prescribed by the banks serving the
payers and comply with the provisions in the Regulation on making, use,
control, processing, preservation and archival of electronic vouchers of banks
and credit institutions, issued by the State Bank Governor.
2. Procedures for paying payment orders
a/ At the banks serving the payers:
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l If payment orders are made in the form of
paper voucher:
- Control the validity and legality of payment
orders;
- Compare and check the balance in the payer�s
deposit account so as to ensure his/her sufficient payment capability.
l If payment orders are made in the form of
electronic voucher:
- Control the information techniques:
Identification codes on vouchers must be identical with the prescribed codes;
secret codes on vouchers must be identical with prescribed ones; The filenames
must be made with the right name and information as prescribed, ensuring that
information contents on vouchers must not be overlapping; vouchers contents are
valid.
- Control the professional contents: Check
electronic signatures, secret signs and password keys on payment orders; check
the account names and indentification numbers, the capability to pay the
amounts recorded on vouchers; check the existence and forms of a number of
compulsory sections of vouchers.
If payment orders are not valid or not secured
with payment capability, the banks shall immediately return them to the
submitters. If they are valid and secured with payment capability, the banks
shall record the accounting dates, account numbers and sign according to
regulations.
* Processing of vouchers and accounting
- Where the payers and payees open accounts at
the same bank:
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- If payment orders are made in the form of
paper voucher, the following shall be complied with:
+ One copy of payment order shall be used as
voucher to record Debit in the payer’s account and Credit in the payee’s
account.
+ One copy of payment order shall be used as
Debit notice to be sent to the payer.
+ One copy of payment order shall be used as
Credit notice to be sent to the payee.
On the Credit as well as Debit notices sent to
their customers, the banks must affix their stamps on the prescribed places
(above the bank’s signature).
- If payment orders are made in the form of
electronic voucher, the following must be complied with: Print (convert) the
payer’s payment order sent (transmitted) in the form of electronic voucher on
paper to serve the control, accounting and archival steps according to
regulations, then use them as Debit and Credit notices to customers.
l Accounting: On the basis of the payers payment
orders, the banks shall record:
Debit in the payer’s account
Credit in the payee’s account.
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- Where the payees open accounts at other banks:
. Processing of vouchers:
- If payment orders are made in the form of
paper voucher, the following shall be complied with:
+ One copy of payment order shall be used as
voucher to record Debit in the payer’s
account.
+ One copy of payment order shall be used as Debit
notice to be sent to the payer.
+ Two copies of payment order shall be used as
basis for making payment vouchers for the banks serving the payees for payment
to the payees.
- If payment orders are made in the form of
electronic voucher, the following must be complied with: Print (convert) the
payer’s payment order sent (transmitted) in the form of electronic voucher on
paper to serve the control, accounting and archival steps according to
regulations, then use them as Debit notices to customers.
l Accounting: On the basis of the payers payment
orders, the banks shall record:
Debit in the payer’s account
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then send Debit notices to the payers.
The banks serving the payers shall base
themselves on the customers payment orders (in paper or electronic form) to
make payment vouchers for the banks serving the payees in the following cases:
- Make vouchers for clearing payment with the
banks participating in clearing payment in the same provinces or cities so that
such banks shall record Credit in the payees accounts or further transmit
through electronic payment (or inter-bank payment) with the banks in the same
system (where the payees open accounts) so as to record Credit in the payees
accounts).
- Make electronic payment vouchers (or
inter-bank payment) with the banks in the same system so that the such banks
shall record Credit in the payees accounts or effect clearing payment with the
banks serving the payees so as to record Credit in the payees accounts.
- Make vouchers of payment through the State
Bank based in the localities so as to record Credit in the payees accounts or
transfer money to the State Bank’s branches in other provinces or cities to record
Credit in the payees accounts.
b/ At the banks serving the payees
Upon receiving the above-said payment vouchers
sent by the banks serving the payers, after controlling them and seeing that payment
conditions are fully satisfied, the banks serving the payees shall:
l Processing of vouchers:
- If receiving payment vouchers in the form of
paper voucher, after controlling them, if seeing that no error is made: Record
the date of making entry in the books, the serial numbers of accounts Debit,
Credit, sign on the vouchers used as vouchers to record Credit in the payees
accounts, then send Credit notices to the payees.
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l Accounting: On the basis of come-in money
transfer vouchers (payment orders, Credit transfer orders), the banks serving
the payees shall record:
Debit in an appropriate account (for inter-bank
amounts to come this year, transfer of money amounts this year)
Credit in the customer’s deposit account (or
another appropriate account)
then send Credit notices to the payees.
Where the payees have no deposit accounts, the
banks serving the payees shall record Credit in the accounts payable to the
customers and notify the payees to come to receive money. The payees must
produce their people’s identity cards or passports to fill in the procedures
for receiving money.
Article 6.- Payment by
collection or money order (hereinafter referred to as money order)
1. Procedures for making money orders
The payees shall place money orders together
with goods delivery or service provision invoices or documents and submit them
to the banks serving them or serving the payers.
The form of money order, the number of copies of
money order, the procedures for making, and the mode of handing over and
receiving of, money orders between customers and banks shall be prescribed by
the banks accepting money order (from customers), but must ensure that money orders
be made, handed over and received, controlled and processed according to the
provisions of law.
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a/ Where the payees and payers open accounts at
the same bank:
Upon receiving money orders enclosed with goods
delivery or service provision invoices or documents submitted by the payees,
the banks must check the validity of the money orders, check the agreement
between the payers and the payees on the payment by money order, then, if all
conditions are satisfied, record the date of receipt of such documents on all
copies of money order and sign for certification of receipt of documents from
the customers and:
- Where payers are able to pay, on the basis of
the money orders, the banks shall record:
Debit in the payer’s deposit account
Credit in the payee’s deposit account
then send Debit notices to the payers and Credit
notices to the payees.
- Where the payers are unable to pay fully the
amounts recorded on the money orders, file in dossier the unpaid money orders and
report such to the payers and payees, then return the money orders to the
payees (if the payees so request) or keep the money orders till the payers are
able to pay, then record the date of payment on the money orders and effect
payment according to regulations.
b/ Where the payers and payees open accounts at
two different banks (of the same system or different systems):
* At the banks serving the payees:
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- Upon receiving the vouchers on payment of
money orders sent by the banks serving the payers, use such vouchers to account:
Debit in an appropriate account (account for
inter-bank amounts coming in, deposit account at the State Bank),
Credit in the payee’s deposit account,
then send Credit notices to the payees.
* At the banks serving the payers:
Upon receiving money orders enclosed with goods delivery
or service provision invoices or documents sent by the banks serving the payees
or directly paid by the payees, the banks shall check the money order-making
procedures and the agreement between the payers and the payees on the payment
by money order, check the payers payment capability, then:
- If payment conditions are satisfied, carry out
the procedures to deduct money from the payers deposit accounts and transfer it
to the banks serving the payees for payment to the payees as in the case of
payment by payment order prescribed at Item a, Clause 2 of Article 4 above.
- If the payers deposit accounts are not enough
for payment, follow the provisions at Item a, Point 2 of Article 5 above.
Article 7.- Payment by
bank card
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a/ For customers
In order to use bank cards (hereinafter referred
to as cards for short), customers must fill in the procedures for registration
of the use of cards and meet all conditions set by the card-issuing banks.
After being accepted by the card-issuing banks, the customers must sign
card-using contracts with the card-issuing banks.
If customers must escrow money at the banks
request, they shall make payment orders to deduct money from their deposit
accounts or deposit cash amounts into the escrow accounts to secure card
payment at the card-issuing banks.
b/ For card-issuing banks
Upon receiving the card use requests and
relevant papers of the customers, the card-issuing banks shall check, consider
and evaluate them, if all conditions for card use are satisfied, they shall
carry out procedures to issue cards to the customers (card owners), compile
dossiers to monitor issued cards, hand cards over to the card owners and
request them to sign for certification of receipt thereof.
2. Card payment procedures
a/ Payment for goods or services to
card-accepting units
The acceptance of card payment must be effected
in the form of contracts agreed upon between the card-issuing banks or
card-paying banks and the card-accepting units.
The card-issuing banks or card-paying banks
(organizations providing card payment services) shall have to guide fully the
card payment procedures for card-accepting units.
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+ Check the validity and effective duration of
cards;
+ Compare the customers card numbers with the
card-issuing bank’s notice on the list of cards declined for payment.
+ Compare the to be-paid amounts with the
payment limit prescribed by the payment banks.
+ Check the people�s identity cards or
passports of the card holders to see if they are card owners or not (if having
any doubt about the card holders).
After checking, if cards meet all conditions for
payment, the card-accepting units shall make payment invoices for goods or
services, request the card owners to sign on payment invoices, compare the
signatures on the invoices with those of the card owners on the cards (if any).
Invoices of payment for goods or services shall be made in 3 copies to be used
as follows:
+ One copy to be sent together with the card to
the card owner;
+ One copy to be kept at the card-accepting unit;
+ One copy to be enclosed with the list of
payment invoices (the card-accepting units make at the end of the day or
periodically according to the payment agreements with the card-issuing banks or
card-paying banks) for sending to the card-paying banks for payment.
- At the card-paying banks: Upon receiving the
list enclosed with payment invoices sent by the card-accepting units, after
checking that they satisfy all payment conditions, the card-paying banks shall
have to make payment immediately to the card-accepting units.
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b/ Procedures for receiving cash at card-paying
banks
Procedures for receiving cash at card-paying
banks shall be prescribed by the card-paying banks
The procedures of payment between the
card-paying banks and the card-issuing banks of cash amounts paid to the card
users shall comply with the provisions at Item a in Clause 2 above.
c/ Procedures for drawing cash from ATM
The procedures for drawing cash from ATM shall
be prescribed by the card-issuing banks or card-paying banks (card payment
service-providing organizations).
The card-issuing banks or card-paying banks
(card payment service-providing organizations) must guide fully the process of
drawing cash from ATM to the card owners.
3. Procedures for changing the card payment
limits; extending the card use duration.
a/ Procedures for changing the card payment
limits
- After using up their cards payment limits, if
wishing to further use their cards, the card owners shall make written requests
to increase their cards payment limits (according to a form set by the
card-issuing banks) and submit them together with their cards to the
card-issuing banks. For cards subject to escrow payment, the card owners shall
also make payment orders (accreditative payment) to deduct money from their
deposit accounts or escrow additional cash amounts into their card payment
accounts at the card-issuing banks.
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- Where the card owners wish to withdraw part of
the escrowed sum for card payment (for cards subject to escrow payment), they
shall make written requests to reduce the card payment limits (according to a
form set by the card-issuing banks) and submit them together with their cards
to the card-issuing banks.
After checking procedural papers, the existing
card payment limit balance and their compatibility with monitoring books, the
card-issuing banks (sections that manage the card issuance) shall insert the
customers cards into special-use machines to record the cards reduced payment
limits, then make payment invoices for the withdrawn money amounts. The card
owners must sign for certification thereof on the invoices. The card-issuing
banks shall use such invoices as vouchers to record Debit in the card payment
accounts and Credit in the customers accounts (which were previously recorded
Debit so as to deposit escrows in the card payment accounts), then hand over
the cards together with one copy of the invoices to the customers.
b/ Procedures for extending the card use duration
Upon the expiry of their cards, if wishing to
further use them, the card owners shall make written requests to extend the
card use duration (according to a form set by the card-issuing banks) and send
them together with their cards to the card-issuing banks.
After checking procedural papers and accepting
the customers requests, the card-issuing banks (sections that manage the card
issuance) shall insert the customers cards into special-use machines to record
the cards extended use duration, then hand them over to the customers.
Article 8.- Payment with
letter of credit
1. Procedures for opening letter of credit
a/ When payers wish to make letter-of-credit
payment, they shall make and submit written requests to open letters of credit
to the banks serving them. The form of request to open letters of credit, the
number of copies of such request, the procedures, mode of handing and receiving
and processing requests to open letters of credit shall be prescribed by the
banks serving the payers but must be compliant with the regulations on making,
control and processing of accounting vouchers of banks and credit institutions,
issued by the State Bank Governor.
The payers shall make written registrations of
specimen signatures of the persons authorized to receive goods, clearly stating
the full names, posts, serial numbers dates and places of issuance of the people’s identity cards of the
authorized persons, and containing specimen signatures of the persons
authorized to receive goods, payers signatures and stamps (if any). The persons
authorized to receive goods shall submit such written registrations to the
banks serving the payees as basis for control and comparison when making
payment of letters of credit.
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The banks serving the payers shall accept to
open letters of credit for their customers in cases where the payees open their
accounts at the banks of the same system. If payees have opened accounts at a
bank of a different system, the banks shall accept to open letters of credit
only when a bank of the same system operates in the same area and these banks
participate in clearing payment with each other.
Upon receiving the customers written requests to
open letters of credit, the banks serving the payers shall:
- Check the procedures for making the requests
to open letters of credit, ensuring the legality and validity of documents.
- Sign and affix their stamps on the first two
copies of the written requests to open letters of credit.
- Inscribe secret signs on all copies of written
requests to open letters of credit.
* Processing of written requests to open letters
of credit:
+ One copy of the written request to open the
letter of credit shall be used as accounting voucher at the bank serving the
payer.
+ One copy of the written request to open the
letter of credit shall be used as a Debit notice to be sent to the payer.
+ Two copies of the written request to open the
letter of credit shall be sent (by post or converted into the electronic form
for transmission via the bank’s
computer network) to the bank serving the payee.
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Debit in the customer’s
deposit account
Credit in the deposit account for opening
letters of credit.
2. Procedures for paying letters of credit
a/ For the banks serving the payees
- Upon receiving the requests to open letters of
credit (in the paper or electronic form) sent by the banks serving the payers,
the banks serving the payees shall check their validity, check secret signs,
stamps and signatures (for paper documents) or secret codes and electronic
signatures (for electronic documents) of the banks serving the payers, then
record the date of receipt, sign and affix the unit’s
stamp on the copies of the requests to open letters of credit (for electronic
documents, they must be printed out in two paper copies), send one copy to the
payee for use as basis for goods delivery, archive one copy and open books to
monitor incoming requests to open letters of credit.
- Upon receiving four copies of the list
enclosed with goods delivery invoices or documents submitted by the payees, the
banks serving the payees shall check the list of goods delivery invoices or
documents, compare the signatures of the persons authorized to receive goods
with the specimen signatures, check the effective duration of the letters of
credit, the amounts the payees request to be paid within the amount limits for
which the letters of credit are opened. If these data are correct: they shall
+ Record in the books to monitor incoming
letters of credit for which payment has been made.
+ Record the date of payment and the
identification numbers of accounts Debit and Credit on two copies of the list
of goods delivery invoices or documents for use as accounting vouchers at the
banks serving the payees:
l One copy of the list of goods delivery
invoices or documents, enclosed with the archived copy of the request to open
the letter of credit for use as voucher to record Credit in the payee’s account
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Where the payees open accounts at different
banks in the locality, such banks shall base themselves on the lists of goods
delivery invoices or documents to make vouchers for clearing payment with the
banks serving the payees so as to record Credit in the payees accounts.
+ On the basis of the list of goods delivery
invoices or documents, make Debit transfer orders or inter-bank Debit notices
to record Debit in the money transfer account or inter-bank account, then send them
to banks serving the payers (Debit transfer order, inter-bank Debit notice
enclosed with two copies of the goods delivery invoices or documents) for
payment.
b/ For the payees
- After receiving the requests to open letters
of credit from the payers sent by the banks serving the payees, the payees must
compare them with the goods contracts or orders, control the goods receipt
authorization papers and the people’s
identity cards of the goods recipients, then, if they are all valid, deliver
the goods and request the goods recipients to sign the goods delivery invoices
or documents.
- On the basis of goods delivery invoices or
documents, the payees shall make four copies of the list thereof (according to
a set form) and submit them to the banks serving them for payment of goods
sales. On this list the payees must sign and affix the unit’s stamp (if any) and there must
be signatures of the goods recipients for certification of the total amounts of
money payable to the payees.
c/ For the banks serving the payers
Upon receiving documents on payment of letters
of credit (inter-bank Debit notices or Debit transfer orders) from the banks
serving the payees, after checking the procedures for making documents and the
documents contents, if they are all correct, the banks serving the payers shall:
- On the basis of the inter-bank Debit notice
enclosed with one copy of the list of goods delivery invoices or documents (or
the Debit transfer order), record:
Debit in the deposit account for opening letters
of credit,
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- One copy of the list of goods delivery
invoices or documents, enclosed with a set of documents used as a Debit notice
to be sent to the payer.
Lump-sum payment shall be made for letters of
credit. Therefore, after making payment, if there remains money in the deposit
account for opening letters of credit, the banks shall make bank transfer bills
to close this account, then account:
Debit in the deposit account for opening letters
of credit,
Credit in the payer’s
deposit account
then send Credit notices to the payers.
Article 9.- Payment by
checks
The process of issuance of checks and the
procedures for check accounting and payment shall comply with current regulations
of the Government and the State Bank.
Article 10.- Collection
of negotiable instruments via banks
The process of hand-over, receipt, control,
processing and payment of negotiable instruments collected via banks shall
comply with current regulations of the State Bank.
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PAYMENT AMONG BANKS
Article 11.- Installment
payments through deposit accounts of payment service-providing organizations
(banks) opened at the State Bank
1. Where the banks use paper vouchers for
payment transactions through the State Bank
a/ At the banks serving the payers (hereinafter
referred to as the payer banks for short)
For payments of the banks themselves (being the
paying units) the banks shall make and submit payment vouchers to the State
Bank where they open accounts for payment according to the provisions in Part
II of this Regulation.
For payments of customers, the payer banks shall
make lists of vouchers for payments made through the deposit accounts at the
State Bank (according to a set form), then submit them together with the
customers payment vouchers to the State Bank. The lists of payment vouchers
shall be made separately according to each payee bank and made in 3 copies in
cases where the payer banks and payee banks open accounts at the same State
Bank unit or 2 copies in cases where the payee banks open accounts at a
different State Bank unit.
b/ At the State Bank’s
branches that hold deposit accounts of the payer banks
Upon receiving the lists of payment vouchers
together with payment vouchers submitted by the payer banks, the State Bank
shall check their validity, compare the lists with enclosed vouchers, check the
payer banks payment capability, then:
- If the lists are invalid or the payer banks
are unable to pay, return the lists to the payer banks.
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* Where the payer banks and payee banks open
accounts at the same unit of the State Bank:
+ One copy of the list of payment vouchers as
voucher to account:
Debit in the deposit account of the payer bank,
Credit in the deposit account of the payee bank.
+ One copy of the list of payment vouchers as
Debit notice to be sent to the payer bank.
+ One copy of the list of payment vouchers as
Credit notice enclosed with the customers payment vouchers to be sent to the
payee bank.
* Where the payee banks open accounts at other
units of the State Bank:
The State Bank units serving the payers shall
base themselves on the vouchers submitted by the payer banks to make Credit
transfer orders to transfer money to the State Bank units serving the payees so
as to record Credit in the payees accounts, then account:
Debit in the deposit account of the payer bank,
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then send Debit notices to the payer banks.
c/ At the State Bank branches that hold deposit
accounts of the payee banks
Upon receiving the money transfer orders, after
checking and transferring money according to regulations, the State Bank units
serving the payees shall record:
Debit in an appropriate account (money amounts
to be transferred this year, inter-bank amounts to be transferred this year),
Credit in the deposit account of the payee bank
then send Credit notices to the payee banks
d/ At the banks serving the payees: On the basis
of Credit notices sent by the State Bank, the banks serving the payees shall
re-check them, if they are all valid, record:
Debit in the deposit account at the State Bank,
Credit in the payee’s
account,
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2. Cases where banks use electronic vouchers
for payment transactions via the State Bank
a/ If making electronic payments via the State
Bank, the banks must register and reach agreement with the State Bank on the
use of electronic vouchers and signatures granted by the State Bank for use in inter-bank
electronic payment according to current regulations.
- Payment orders (Debit transfer orders, Credit
transfer orders) and the lists used in inter-bank electronic payment must be
used according to the form set by the State Bank.
- Electronic vouchers must be duly made with
precise elements and bear all electronic signatures of the approvers of the use
of money in the accounts (general directors, directors or authorized persons)
and electronic signatures of the controllers (chief accountants, heads of
accounting sections or authorized persons).
Electronic vouchers must be printed out on
paper. In case of necessity, once printed out, the paper vouchers must show the
names and personal signs of the responsible persons who have signed electronic
vouchers and those who have effected the payment.
b/ Technical and professional processes of
electronic payment via the State Bank (electronic money transfer) shall comply
with current regulations.
Article 12.- Clearing
payment among banks
1. Clearing payment among banks within (or
without) the territories of provinces or cities shall fall under the prime
responsibility of the State Bank:
The clearing payment among the banks under the
prime responsibility of the State Bank shall comply with current regulatory documents
of the State Bank.
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The banks in the locality shall select one among
them to assume the prime responsibility and other banks as member banks. The
member banks must open deposit accounts at the bank with the prime
responsibility for making clearing payment. The clearing payment shall comply
with the provisions at Point 1 above.
Article 13.- Repayment
for collection or payment for one another among banks
1. Opening deposit accounts at other banks for
payment transactions:
The payment through deposit accounts at other
banks shall be the same as in the case where banks open deposit accounts at the
State Bank.
2. Authorization of collection and payment for
one another among banks with payment relations under entrustment contracts:
The collection and payment for one another among
banks shall be effected only for payments already agreed upon in the
entrustment contracts between the banks. Whenever amounts collected or paid for
one another arise, the banks where such amounts arise must send payment
vouchers to the concerned banks for book-keeping. At the end of each payment
period, the banks must compare data with one another, settle the amounts
already collected and paid for one another, and pay any differences to be
collected or paid.
Part IV
IMPLEMENTATION PROVISIONS
Article 14.- Basing
themselves on this Regulation and the relevant legal documents, the general
directors (directors) of payment service-providing organizations shall have to
guide and organize the implementation for their attached units and customers.
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Article 15.- Any
amendment and supplement to this Regulation shall be decided by the State Bank
Governor.
FOR THE STATE BANK GOVERNOR
DEPUTY GOVERNOR
Vu Thi Lien