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THE
STATE BANK OF VIETNAM
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SOCIALIST
REPUBLIC OF VIETNAM
Independence Freedom Happiness
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No.
1839/2005/QD-NHNN
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Hanoi, December
19, 2005
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DECISION
ON
THE EXCHANGE OF EXPIRED PAYMENT NOTES
THE GOVERNOR OF THE STATE
BANK
- Pursuant to the Law on the
State Bank of Vietnam issued in 1997; the Law on the amendment, supplement of
several articles of the Law on the State Bank of Vietnam issued in 2003;
- Pursuant to the Decree No. 86/2002/ND-CP dated 05 November 2002 of the
Government providing for the function, assignment, authority and the
organizational structure of Ministries, ministerial level agencies;
- Pursuant to the Decree No. 52/2003/ND-CP dated 19 May 2003 of the Government
providing for the function, assignment, authority and the organizational
structure of the State Bank of Vietnam;
- Pursuant to the Decree No. 64/2001/ND-CP dated 20 September 2001 of the
Government on the payment activity through payment services suppliers;
- Upon the proposal of the Director of Issuing and Vault Department,
DECICES:
Article 1. Governing
scope
This Decision provides for the
exchange of the expired payment notes (PN) of the State Bank for organizations
and individuals (hereinafter referred to as customers).
Article 2. Conditions for
the expired PN to be considered for exchange
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2. The shape and size of the PN
must remain intact. In case where the PN is ruined, torn to pieces, conditions
under current provisions of the State Bank for the exchange of paper notes
which are not qualified for circulation must be ensured;
3. In case where the PN is
broadened, stuck, only PN which is broadened, stuck from the two pieces of the
same note and has area of more than 90% against the PN of the same type shall
be considered for exchange.
Article 3. Procedures for
the exchange of the expired PNs
1. Customers who have a demand
for the exchange of the expired PNs should submit an application (Appendix
attached to this Decision) and the expired PNs to the State Bank branches in
provinces, cities under the Central Governments management or the Banking
Operation Department (hereinafter referred to as exchanging unit).
2. The exchanging unit shall be
responsible for the inspection of the expired PNs of the customers, if they
satisfy the conditions provided for in Article 2 of this Decision, the
exchanging unit shall temporarily accept those PNs and confirm in the
application of the customers (drawn in two copies with the same validity, one
kept by the exchanging unit and one kept by the customer); on the monthly
basis, consolidate and make a report to the State Bank of Vietnam (the Issuing
and Vault Department) in accordance with the Statistic Reporting Regime of the
State Bank. In case where a customer does not satisfy the conditions provided
for in Article 2 of this Decision, the exchanging unit shall immediately return
the PN to the customer and clearly state the reason thereof.
3. Within the period of 07
working days since the receipt of the report from the exchanging unit, the
Issuing and Vault Department shall be responsible for the verification,
reconciliation of the number of PNs which has been issued, then revoke them and
decide on the payment acceptance (or non-acceptance) for the expired PNs of the
customers and give a written notice of the result to the exchanging unit.
4. Within the period of 05
working days since the receipt of the notice of the Issuing and Vault
Department, the exchanging unit must inform the customer to perform the
exchange of the expired PNs against a fee in accordance with provisions in
Article 5 of this Decision or inform the reason for not exchange.
Article 4. Dealing with
the PNs which are counterfeit, or suspected to be counterfeit
In case where a PN applied for
exchange is detected to be counterfeit or suspected to be counterfeit, the
exchanging unit shall deal with it in accordance with current provisions of the
State Bank like dealing with the counterfeit money or money which is suspected
to be counterfeit
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Fee for the exchange of the
expired PNs shall be 5% (five percent) of the total value of the expired PNs
which are accepted for exchange and shall be recorded to the operational income
of the exchanging unit.
Article 6. Package,
delivery and receipt of the expired PNs
The post-exchange counting,
package, delivery, receipt and preservation of the expired PNs shall be
implemented in compliance with current provisions of the State Bank on the
delivery, receipt, preservation, transportation of cash, precious assets,
valuable papers.
Article 7. The period for
terminating the exchange of the expired PNs
Provisions on the exchange of
the expired PNs under this decision shall be implemented till the end of 31st
December 2007; from 01 January 2008 onwards, the State Bank of Vietnam shall
terminate the exchange of the expired PNs.
Article 8. Effectiveness
and responsibility for implementation
1. This Decision shall be
effective after 15 days since its publication in the Official Gazette and
replace the Decision No. 324/1999/QD-NHNN6 dated 15/9/1999 of the Governor of
the State Bank on the issuance of the Regulation on the exchange of the expired
payment notes; the Decision No.1345/2001/QD-NHNN dated 29/10/2001 of the
Governor of the State Bank on the amendment, supplement of several articles in
the Regulation on exchange of the expired payment notes issued in conjunction
with the Decision No. 324/1999/QD-NHNN6 dated 15/9/1999.
2. The Director of the
Administrative Department, the Director of the Issuing and Vault Department,
Heads of related units of the State Bank, the Director of the Banking Operation
Department, General Managers of the State Bank branches in provinces, cities
under the Central Governments management shall be responsible for the
implementation of this Decision.
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FOR
THE GOVERNOR OF THE STATE BANK
DEPUTY GOVERNOR
Nguyen Thi Kim Phung
APPENDIX
APPLICATION
FOR THE EXCHANGE OF THE EXPIRED PAYMENT NOTES
To:...................................................................
Name of the
customer:...........................................................................................................
Number of Identity Card (or
other valid personal papers):............................................................
Address:...............................................................................................................................
Phone
number:......................................................................................................................
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Order
Type
of PNs
Expiry
date
Quantity
Value
Series
1
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2
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Total
Value in
word:........................................................................................................................
Request the State Bank
..................................................................... to
consider for exchange
Date
,.......................
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APPLICANT
(Customer signs and states clearly full name)
GENERAL
MANAGER
(sign, clearly state full name and seal)
(Note: The application shall be
drawn in two copies, one kept by the customer and one kept by the Bank for the
reconciliation. After 60 days at the maximum since the receipt of the
application and the PNs, the Bank shall be responsible for the exchange or
giving a notice of the reasons for not exchanging to the customer. After the
exchange, the Bank must revoke the application of the customer)