blue-check Guidelines on identification of costs for enforcement of judgements against commercial entities

Circular No. 55/2021/TT-BTC dated July 8th, 2021 of the Ministry of Finance on providing instructions about management, allocation, advance payment and reimbursement of costs or funds for enforcement of court judgements against commercial entities
Posted: 13/7/2021 1:26:49 PM | Latest updated: 27/7/2021 10:57:19 AM (GMT+7) | LuatVietnam: 5250 | Vietlaw: 525

According to Article 3 of this Circular, entities that fail to comply with or unduly comply with the Court’s judgement or decision to the extent of being subject to law enforcement measures shall bear all costs of enforcement activities.

The identification of enforcement costs shall be carried out in accordance with Article 43 in the Decree No. 44/2020/ND-CP.

Costs shall be treated based on contracts, contract termination records, minutes on handover of distrained property (in case of the authorized custody of distrained property), invoices and evidence of actual, legitimate and valid expenditures in accordance with current regulations. In particular, benefits paid to persons mobilized to directly participate in and guard enforcement activities shall be as follows: VND 150,000 per day (paid to a person leading the implementation of a law enforcement decision); VND 100,000 per day (paid to a person mobilized to participate in execution of a law enforcement decision).

Enforcement decision-executing authority shall approve the estimate of costs of enforcement and inform the commercial entity (entity subject to enforcement) for making payment.

In case enforcement costs have not yet been collected from the entity subject to enforcement because that entity does not voluntarily pay or due to other objective causes, the enforcement decision-executing authority can request the enforcement decision-making authority to advance on the enforcement costs and recover the costs after the enforcement is finished.

This Circular takes effect from August 25th, 2021.

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Effective Date 25-Aug-2021
ExpiredDate Unknown
Published Vietlaw's Newsletter No. 525
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