The Banking Association rescue mortgage car recommendations

The Banking Association, 17.7 days to send the text of proposed Ministry of public security regulations sanctioning the car which the Mortgage Bank (no original documents) and the Ministry of justice promptly revised the regulations accordingly. According to the Association, the automobile is a particular asset, credit institutions are not able to manage poultry keeping cars which can only control the risks through keeping the original vehicle registration certificate. If the mortgage party to just keep the cars just kept the original vehicle registration certificate, then the client can initiate the transfer, sale, lease, pledge ...

The Banking Association rescue mortgage car recommendations
Legally, under the provisions of the civil code, on the mortgage has the right to keep the papers related to the collateral if the parties to the agreement. The mortgage party regulations to keep the original transportation certificate, while the party still keeps mortgage collateral as defined in the Decree 163/2006 (amended and supplemented by Decree 11/2012) is no longer consistent with the provisions of the civil code and led to difficulties problems of the aforesaid mortgage. Besides, item 2 article 58 law on road traffic regulations about the papers when the driver control the vehicle must carry vehicle registration is not required, but is a main ...

On that basis, the Banking Association recommendations, Ministry of public security traffic Police Bureau Director approval and no sanction for those who control the means of transportation used vehicle registration copy of the bank receipt as collateral when lending. The Ministry of Justice and the quick fix Government Decree in accordance with the civil code, which regulates the mortgage right is entitled to keep the original papers relating to collateral under the agreement.

Trouble with the mortgage bank


The TRAFFIC POLICE check out, sanction the vehicle no vehicle registration paper original when in traffic led many drivers worry, by there are a lot of people when the Bank loan to buy motorcycles, the Bank required a mortgage vehicle registration paper originals. Exchange with CORRESPONDENT length 3.7 Youth, major general Nguyen Huu Master, Deputy traffic police (C67) Ministry of public security, said C67 has received quite a lot of the opinions of the local TRAFFIC POLICE on the handling of administrative violations with respect to the person who controls the cars used car registration certificate copy, so a key pledge (mortgage) Bank (NH) led drivers worried.

On the basis of Exchange and unification with the State Bank (SBV) on pH, 31.5.2017, C67 have written number 2916/C67-P9, the local TRAFFIC POLICE directions with the content: "for these facilities the NH mortgage when in traffic, then the mortgage party (buyer) is holding a certificate of registration of the vehicle within the contract takes effect in accordance with the provisions of Decree No. 163/ 2006/ND-CP on trading guarantees and no. 3851/NHNH-PC on 24.5.2017 of SBV VN ". "The local TRAFFIC POLICE forces handle those violations that used car registration certificate copy in time through is absolutely correct," major general Nguyen Huu Master insisted.

Earlier, the SBV has "blown the whistle" 3851 dispatches the credit organization, requests made to seriously defined on the mortgage side (i.e. client-PV) is a key means of transport registered in the mortgage contract take effect. In fact, the owners of vehicles when the loan installment, the party vehicle purchase NH mortgage not NH handed back the original vehicle registration certificate which only delivered a copy of NH, leads to the condition of the driver of vehicles can only produce the vehicle registration copy of NH when TRAFFIC POLICE checking traffic violations. In this case, the violation will be founded thereon, sanction violation error does not have the vehicle registration papers.

The Bank worried about high risk


As soon as the SBV "blow the whistle", requires the NH made strictly regulated, Legal Department of some NH were meeting urgently solving this problem. Managing Director, individual clients a NH stock for or does the NH are "spleen" by doing a certificate as the client thanks to "hold" the vehicle registration certificate (!). This Director admitted, if not keep the car registration NH the NH meet too many risks because the borrower does not exclude bringing the car pledge. If not "spleen" then NH will have to stop this form of mortgage lending by the major automakers. "Such regulations then NH to research products for automobile loan mortgage with that car." The position of Director for this or if NH is not keeping the borrower's vehicle registration certificate, NH will face huge risks.

This form of mortgage lending, not to keep parking NH paper. The NH case delivered papers for the borrower, then the NH credit lenders accept the policy for this product will have to change the whole loan evaluation, since the object of the loan to the lender, the interest rates of course will also be higher. If not, the customer must mortgages by other properties such as homes for loans to buy cars. If such regulations would be detrimental to the client's business car loan servicing operations, they will not have enough collateral to purchase home when tens is the car. TS-LS Bui Quang Tin, said that the Agency should soon enact regulation guidances ensure active in NH today.

Recommendations do not penalize car loans mortgage bank


The Association of banks and the State Bank has had a series of recommendations about sanctions with regard to the means of transport used vehicle registration copy of the bank receipt as collateral when lending. Vietnam Bank Association have proposed sending The public security traffic Police Bureau Director approval and no sanction for those who control the means of transportation used vehicle registration copy of the bank receipt as collateral when lending. The NH Association also suggested that the Ministry of Justice quickly improving and the Government issued a decree to replace Decree 163/2006/ND-CP, Decree 11/2012/ND-CP line with provisions of the civil code 2015, which regulates the mortgage right is entitled to keep the original papers relating to collateral under the agreement.

Ministry of transportation suggested directing traffic Inspector allows the driver of vehicles using the car registration paper copy of the bank receipt of the mortgage vehicles when in traffic. Many people concerned do not dare to bank loan to buy a car. According to the Association of Bank, in recent days, the Association received a lot of reflection of the credit organization (TCTD) members about the difficulties and problems related to the implementation of the requirement in no. 2916/C67-P9 31/5/2017 day of the traffic Police Department (Ministry of public security) provincial public security guide the city, handling administrative violations with respect to the transportation operator uses vehicle registration copy of the bank receipt of the mortgage.

To steer, the TCTD very puzzled, worried, as the commercial bank offers consumer loans buy a car make (have the proportion of outstanding bank the sector around 30%, in which the rate of the loan is secured by cars from the loan account for about 90% of the value of each loan up to 80-90% of the value of the car). Many banks already have client requests are received back a vehicle registration certificate are the main mortgage in the Bank by the sanctioned when using vehicle registration copy of the bank receipt of the mortgage.

Meanwhile, according to the Bank, cars is a particular property, the TCTD generally are not able to manage poultry keeping cars which can only control the risks through keeping the original vehicle registration certificate. If the mortgage party to just keep the cars just kept the original vehicle registration certificate, the client can automatically transfer, purchase, sale, lease, pledge ... In that case, TCTD cannot control, manage the loan, could not handle, liquidate the loans when customers do not pay the debt, will increase the risk of bad debt TCTD. From there, the apprehension will lend, TCTD limited credit access of the business and the people for this field.

According to the Banking Association, legally, under the provisions of the civil code, by 2015 the mortgage has the right to keep the papers related to the collateral if the parties to the agreement. The mortgage party regulations to keep the original transportation certificate while the party still keeps mortgage collateral as specified in Decree 163/2006/ND-CP (modified, supplemented by Decree 11/2012/ND-CP) is no longer consistent with the provisions of the civil code 2015 and leads to the difficult problems of the aforesaid mortgage.

Item 2 Article 58 2008 Road Traffic Law regulates the papers when the driver control the vehicle must carry vehicle registration including but not specified must be the originals. Article 3 of Decree 23/2015/ND-CP of the Government on the 16/02/2015 copies from the original book, certified copies from the originals, the signature and authentication endorsement contract, then trading regulations: copies of endorsement from a key value used in place of a key used to reference the testimonials unless otherwise specified by law.

Decree No. 46/2016/NĐ-CP on 26/5/2016 about the provisions sanctioning administrative violations in the field of road and railway traffic of the Government does not sanction provisions for cases of using vehicle registration certificate are copies from originals by unit authorities when in traffic. On the basis of the provisions of the civil code 2015, road traffic Act, Decree No. 23/2015/ND-CP, Decree No. 46/2016/ND-CP and to resolve timely recommendations of the TCTD, ensure the rights of the unit get the mortgage, create conditions for the people, businesses and the TCTD perform lending operations and loan facilitation Vietnam Bank Association, glass recommended: before that, State Bank (SBV) also have text sent the Ministry of Justice and the Ministry of public security proposed in handling difficult problems in getting the mortgage collateral is the means of transport.

Accordingly, on the basis of the provisions of the civil code 2015 and to defuse the difficult obstacles and create conditions for the people and the implementation of the loan operations and TCTD borrower advantages, ensuring the rights of mortgage, SBV Governor had suggested the text completion and the Government issued a decree replacing the Decree 163/2006/ND-CP , Decree 11/2012/ND-CP towards the right mortgage rules have the right to keep original documents related to the collateral in case the parties have an agreement consistent with the provisions of the civil code 2015. At the same time, pending the Government enacted the Decree replaces Decree 163/2006/ND-CP, Decree 11/2012/ND-CP, the SBV also suggested the Ministry of public security (text no. 5487/NHNN-PC) directed the police to the level that allows the driver of vehicles using a copy of the certificate of registration of vehicles certified by the TCTD when circulating vehicles.



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