OUTSTANDING NEW POLICIES EFFECTIVE FROM MID-OCTOBER 2025
The revised Law on Credit Institutions 2025 comes into effect; The schedule of customs fees and charges for goods and means of transport in transit;... are outstanding new policies effective from mid-October 2025 (October 11, 2025 - October 20, 2025).
The notable point of the revised Law on Credit Institutions 2025 is that for the first time, it clearly stipulates the right to seize secured assets.
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Specifically, Article 198a is added to regulate the right to seize secured assets.
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Accordingly, credit institutions, foreign bank branches, debt trading and settlement organizations have the right to seize secured assets of bad debts when meeting the following conditions:
- When a case of handling secured assets occurs according to the provisions of Article 299 of the Civil Code;
- The guarantee contract has an agreement that the guarantor agrees to allow the secured party to have the right to seize secured assets of bad debts when a case of handling secured assets occurs according to the provisions of law on securing the performance of obligations;
- The security measure has taken effect against a third party according to the provisions of law on security for performance of obligations;
- The secured assets are not disputed assets in a case that has been accepted but not yet resolved or is being resolved at a competent court; are not being subject to temporary emergency measures applied by the court; are not being seized or subject to measures to secure execution of judgments according to the provisions of law; are not subject to temporary suspension of handling according to the provisions of law on bankruptcy;
- The secured assets to be seized must satisfy the conditions prescribed by the Government;
- The credit institution, foreign bank branch, debt trading and settlement organization has performed the obligation to publicly disclose information according to the provisions of Clause 3 or Clause 4, Article 198a.
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