THE GOVERNMENT | SOCIALIST REPUBLIC OF VIET NAM |
No. 30-CP | Hanoi ,May 09, 1996 |
REGARDING THE REGULATION ON THE ISSUE AND USE OF CHECKS
THE GOVERNMENT
Pursuant to the Law on Organization of the Government of September 30, 1992;
At the proposal of the Governor of the State Bank,
DECREES:
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FOR THE GOVERNMENT
THE PRIME MINISTER
Vo Van Kiet
REGULATION ON THE ISSUE AND USE OF CHECKS
(issued together with Decree No.30-CP of May 9, 1996 of the Government)
A check can be assigned according to the prescriptions in this Regulation.
Article 2.- The following terms used in this Regulation shall be construed as follows:
- Check owner is the person in whose name the account of payment deposits is opened and who is the owner or representative of the owner of the sum recorded in this account.
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- Check beneficiary is the person entitled to the ownership of the sum recorded in the check.
- Check assigner is the person who assigns the right of ownership of the sum recorded in his/her check to another person.
- Paying unit is the unit keeping the deposit account of the check owner and is licensed by the authorized agency to conduct payment services.
- Assigned receiving unit is the unit in its capacity as agent for the check beneficiary to receive the money on his/her behalf. A unit pertaining to the same system of the payment unit is also regarded as an assigned receiving unit when it receives the check.
- Check payment warrant is the certification by the paying unit that the check is payable.
- Signed check is the check in which the name of the beneficiary of the check is written.
- Unsigned check: is the check in which the name of the beneficiary of the check is not written.
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On the front side:
- The word "Check" printed in block letters;
- The serial number of the check;
- The payable sum written in number and in letters;
- The name, family name and address of the check issuer and the number of his/her account;
- Name, family name, address of the beneficiary and the number of his/her account (if any);
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- Place and date of signing and issue of the check;
- Signature of the check issuer.
The back side of the check shall be used to specify the assignment .
Article 9.- A check shall be used:
- To pay to the person named in the check;
- To pay to the bearer of the check;
- To make cash withdrawal at the paying unit.
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Article 11.- The valid time for the payment of a check is 15 days.
RIGHTS AND OBLIGATIONS OF THE CHECK ISSUER
Article 13.- The check issuer shall have to assure payment of the whole sum written in the check.
The check still retain its value of a payment instrument even after its issuer who is an individual dies, or is declared legally incapable by a court, or is restricted in his/her capacity of civil acts.
With regard to a check issued by a representative with legal status, if that legal person is dissolved, is declared insolvent or has its accounts frozen, the check shall be paid according to the decision of the authorized agency.
Article 14.- The check issuer may ask the paying unit to stand guarantee for the check to be issued.
The guarantee shall be effected through the certification signed by the paying unit and the affixture of the seal "Guarantee" on the front side of the check.
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The person, who loses a check that has been misused to withdraw money at the paying unit before the latter has been informed of the loss, shall have to bear all the loss therefrom.
RIGHTS AND OBLIGATIONS OF THE BENEFICIARY
For a signed check, when assigned, it must record the name of the assignee.
The assigner of the check may terminate the next assignment by writing before his/her signature the words "assignment discontinued".
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The recipient of a check may ask the paying unit to pay compensation in case the check has been misused to withdraw money at the paying unit after the latter has received the check loss notice.
RIGHTS AND RESPONSIBILITY OF THE PAYING UNIT
Article 23.- When receiving a check, the paying unit must check the following:
- The validity of the check;
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- The continuity in the succession of the signatures if it is a signed check.
Article 24.- The paying unit has the right to refuse payment of a check in the following cases:
- The account of payment deposit falls short of the money for the payment of the check;
- The check is not valid;
- There has been an order to suspend payment of the check;
- The valid time for payment has expired;
- The signature for check issue is beyond the competence defined in the assignment document.
The payment unit shall have to issue a bill on the refusal of payment, name in writing the reason and hand it to the check remitter together with the check which is refused payment.
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The paying unit is entitled to sue the individuals or legal persons who take acts causing damage to the paying unit and ask compensation for the damage which has been done to it.
RIGHTS AND OBLIGATIONS OF THE ASSIGNED RECEIVING UNIT
The assigned receiving unit is entitled to take a fee for the check payment service as prescribed by the State Bank and shall not have to refund the fee if the check is refused payment.
- The check is not valid;
- The valid time for payment of the check has expired.
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COMPLAINT AGAINST REFUSAL TO PAY A CHECK
The written complaint must be attached to the bill refusing payment of the check from the paying unit.
For an unsigned check, the recipient shall have to send his/her complaint to the check issuer within four working days after receiving the bill refusing to pay the check.
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The suing dossier shall comprise:
- The suing petition;
- The check which has been denied payment;
- The bill refusing payment of the check written by the paying unit.
- The interest of the sum written in the check calculated according to the interest rate of overdue debts in the category of bare interest rates for short-term loans prescribed by the State Bank. The time for calculating the interest begins from the date the beneficiary remits the check asking for payment till the date of payment;
- The expenses related to the sending of the complaint and the filing of the legal action already spent by the beneficiary.
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The sued person may, in his/her turn, sue the other persons responsible for the check within three months after the termination of the legal action against him/her.
In case of a force majeure reason, the above statute of limitation may be extended till the termination of the force majeure period. The force majeure reason must be certified by the People’s Committee of the commune or ward where the suer resides or works.
INHIBITIONS AND HANDLING OF VIOLATIONS
Article 40.- The following acts are strictly forbidden:
- Faking or fiddling the check;
- Deliberately delivering and receiving a faked check, a fiddled check, a check of which the payment valid time has expired, or a check of which order has been issued for suspension of payment;
- To issue a check which is above the sum deposited for payment;
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- To assign a check which has expired its payment valid time or a check which has been refused payment.
Any organization or individual that violates the above inhibitions shall, depending on the seriousness of the violation, be subject to administrative sanctions, prohibited from check issuing or be examined for penal liability as provided for by law.
- 1Circular No.05/2004/TT-NHNN of September 15, 2004, guiding the implementation of several contents of the Decree No. 159/2003/ND-CP dated 10 December 2003 of the Government on the supply and use of cheques
- 2Circular No. 07/TT-NH1 of December 27, 1996, guiding the implementation of the regulation on the issue and use of checks issued together with Decree No. 30-CP of May 9, 1996 of the Government
Decree No. 30-CP of May 09, 1996, the of the Government regarding the regulation on the issue and use of checks
- Số hiệu: 30-CP
- Loại văn bản: Nghị định
- Ngày ban hành: 09/05/1996
- Nơi ban hành: Chính phủ
- Người ký: Võ Văn Kiệt
- Ngày công báo: Đang cập nhật
- Số công báo: Đang cập nhật
- Ngày hiệu lực: 01/07/1996
- Ngày hết hiệu lực: 01/04/2004
- Tình trạng hiệu lực: Hết hiệu lực