The DECISION of the STATE BANK of Vietnam Dong conversion process rules Vietnam into u.s. dollars and turning out ngoàicho water projects is the Government guarantee and commitment.

 

The GOVERNOR of the STATE BANK of Vietnam's State Bank cứLuật Base No. 01/1997/QH10 on 12/12/1997, no. 15 cứNghị/CP ngày02/3/1993của Government on the duties, powers and responsibilities of the State bars, ministerial bodies, pursuant to Decree No. 88/1999/ND-CP dated 30/8/1999 of vềquản Government of foreign exchange reserve management hốinhà water;

Pursuant to Decree No. 24/2000/ND-CP dated 31/7/2000 quyđịnh detailed government implementation of the law on foreign investment in Vietnam; At the suggestion of Vụtrưởng Service Management lýngoại trading DECISIONS: 1. The decision rules and processes convert Copper into u.s. dollars and Vietnam moved out of water ngoàicho projects is the Government guarantee and commitment.

Article 2 of this decision. the terms below are interpreted as follows: 1. GGU is a Thỏathuận guarantee and commitment of the Government.

2. The project is especially important projects received Government guarantees and commitments.

3. Side of Vietnam's enterprises are established and operating in Vietnam tiêuthụ products of the project.

4. Investors as foreign oil investors to invest in the project.

5. The Bank is the Bank allowed trading Forex (đượcphép Bank) are investors choosing to perform the transformation Vietnam Bronze sangĐô for the project.

6. Revenue is the amount obtained from the sale of products and services of the project was tínhbằng us dollars and paid by ĐồngViệt.

7. on the announcement on the Bank's rate announcement conversion rate to U.s. dollars for Vietnam đổiĐồng đầutư as specified in a GGU of each project.

8. term rates (Forward) is the rate of conversion by the Bank identified with States hạntối maximum of 9 days.

9. Payment date is the date the transfer amount Vietnam Vietnam-party on your khoảnsố 1 of investors and is banking on converts began to make transformation giaodịch Vietnam Dong to the dollar. The payment date to be determined after the "September tỷgiá notice" must not exceed two (2) working days.

10. on switch is on the Bank of the switch made the transfers đổitiền Council of Vietnam to the U.S. dollar. The conversion date to be determined after the "Ngàythanh" and are specified in a GGU of each project.

Article 3. Investors traded with the Bank to convert the sales ĐồngViệt South into the US dollar and moved outside the ranước as defined in this decision.

Article 4.-conversion process into Vietnam Dong us dollars as follows: 1. The first month: investors provide products;

2. The second month: On a date determined by the second month (days prescribed in đượcxác a GGU củatừng project), the investor must inform the Bank switching and Ngânhàng State (foreign exchange management and transaction) predicts the number of willing us dollars need to switch from the doanhthu of the project last month.

3. The third month: may make the switch to Vietnam Dong us dollars. The transformation performs the following steps: Bước1: no later than 12 noon of the day "notification rates", hàngchuyển Bank announces change in rates for investors to set up invoice notifications for thứcvà main Vietnam Party to make payments to investors Bước2 : 2.1. Not later than 12 noon of the "payment date", by the Same amount, enough Vietnam phảichuyển Vietnam into account number 1 of investors opened at Ngânhàng.

2.2. Trườnghợp switching banks have enough dollars to meet the needs of investors switching, chuyểnđổi Bank to conduct the transaction to convert the Same amount Vietnam on tàikhoản number 1 after subtracting spending in Vietnam) to the US dollar within the number of days quyđịnh in a GGU for each project after Vietnam Dong Vietnam money transfer to the account number 1 was hàngchuyển Bank rate change announcement.

2.3. in case the Bank converts do not have enough dollars to meet as cầuchuyển changed for investors due to the status of Exchange are not allowed on beats paying (after the Vietnam Party Brass Vietnam money transfer to the account number 1 for governmental equity investment), Bank switching sends the text of the proposal State Bank sold chongân every dollar missing number conversion to purpose on record sent State Bank. (Service manage my Forex and SởGiao room) includes: Đơnxin buy us dollars to meet the needs of chuyểnđổi for investors;

Hóađơn paid by investors.

Bước3: The base specified in the guarantee agreement and the commitment of the Government (GGU) and pursuant to the status of the Bank's foreign currency conversion and regulation tạiQuyết, SởGiao room tracác check the necessary documents, made the sale of us dollars according to the exchange rate conversion Bank announced (referred to in Article 8, point 2) from the Stabilization Fund rates and the price of gold to the Bank chuyểnđổi within five (5) working days from the date of payment in order to meet nhucầu for conversion and investment


Step 4: within two (2) working days from the date of buying u.s. dollars from the State Bank, the Bank converts the base amount Vietnam has on the "số1" account after deducting the number of Vietnam Dong spending investors đểchuyển to the US dollar by giáđã recorded on the invoice and transferred into the account "number 2".

5. When converting u.s. dollars from my account "số2" as proposed by overseas investors, the Bank converts the confirmation voucher control not going to pay tax and the other documents to be quyđịnh in a GGU.

Article 6. Responsibility of the SởGiao room, Service manage my Forex and the relevance of the State Bank in the vàbáo tracking reports after the dollar conversion for investors: 1.. SởGiao room: report Nhànước Bank Governor shortly after selling the US dollar; at the same time, inform the Service Forex management situation of bánĐô dollars from vàgiá gold rate stabilization Fund.

Thựchiện the transfer of u.s. dollars from the foreign exchange reserve fund to stabilize the national giávà Foundation gold price as determined by the Governor after the Prime phêduyệt.

Lậpsổ book to track the process of selling the U.S. dollar under this decision. Implementation of the accounting vàthống stats to track with the following content: on ... months ... years; the number of u.s. dollars sold for hàngchuyển Bank, the number of U.s. dollars foreign exchange reserve fund chuyểntừ thing to stabilize the exchange rate and gold price and practice độthông, recurring reports according to the provisions of article 20 of the Statute of the Organization thựchiện the task of managing the State foreign exchange reserve (attached theoQuyết No. 653/2001/QD-NHNNngày 17/5/2001 củaThống Bank Home the water).

2. Foreign Exchange Management Service: Khinhận U.s. dollar chuyểnđổi need needs of investors, calculated the number of dollars available in the "Stabilization Fund rates and gold price, if not đủđáp the conversion needs of investors then immediately made a report to the Director cáoThống sheet government permission is transferred from the foreign exchange reserve fund sangQuỹ stabilize the exchange rate and the price of gold the amount of u.s. dollars is required to sell to the modified hàngchuyển; Determine the status of the Bank's currency conversion please buy us dollar in response to the needs of investors;

Dựthảo Prime report the Governor State Bank after each transfer lầnđiều u.s. dollars from the foreign exchange reserve fund hốisang Funds stabilize rates and the price of gold;

Chậmnhất on January 25th, the Governor of the State Bank report cáoThủ Prime about the situation to sell us dollars to investors under this decision.

3. Financial-Accounting Service: Phốihợp with transaction accounting cácnghiệp accounting service arise about moving u.s. dollars from the foreign exchange reserve fund to stabilize the exchange rate and the price of gold.

Article 7.-case payment delay fault of Vietnam investment partners will send báobổ sung before the Bank converted about slow payments. Hàngchuyển banks in Exchange for the State Bank report about slow payments to dõivà coordinate resolution. The process of converting United States dollars applicable to cases of actual payment hiệntheo regulation in the third month and step prescribed in article 4, article 5 vàĐiều 6 of this decision.

Article 8. Chậmnhất on October 20th of every month, the Bank must report the conversion of thousands of foreign (foreign exchange management and transaction) on the situation of selling u.s. dollars for first home tưtrong,; at the same time, inform the State Bank (foreign exchange management, transaction hốivà) expects the number of us dollars that need conversions for investors in the coming months.

Cuốimỗi you switch Bank State Bank report (foreign exchange management, transaction hốivà) expected us change cầuchuyển needs of investors in the quýtiếp according to the plan and balance us dollars to meet that demand.

Article 9. This decision takes effect 15 days from the date of signing.

10. Office, Director of the Foreign Exchange Management, transaction manager, Director of accounting and finance and heads of the relevant units of the State Bank, Tổnggiám Bank allowed selected as banks convert tráchnhiệm bear this decision enforcement./.