According to vtv2 trực tiếp bóng đá hôm nay law in Vietnam, what is a credit card? Will vtv2 trực tiếp bóng đá hôm nay person who has an overdue credit card payment be liable to criminal prosecution in Vietnam?

According to vtv2 trực tiếp bóng đá hôm nay law in Vietnam, what is a credit card?

Pursuant to Clause 3 Article 3 of vtv2 trực tiếp bóng đá hôm nay Circular 19/2016/TT-NHNN stipulating as follows:

Interpretation of terms

For vtv2 trực tiếp bóng đá hôm nay purposes of this Circular, these terms below shall be construed as follows:

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3. Credit card means a card that authorizes its holder to conduct card transactions within vtv2 trực tiếp bóng đá hôm nay credit limit granted under vtv2 trực tiếp bóng đá hôm nay agreement with vtv2 trực tiếp bóng đá hôm nay card issuer.

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As regulations above, credit card means a card that authorizes its holder to conduct card transactions such as shopping, service payments within vtv2 trực tiếp bóng đá hôm nay credit limit granted under vtv2 trực tiếp bóng đá hôm nay agreement with vtv2 trực tiếp bóng đá hôm nay card issuer.

According to vtv2 trực tiếp bóng đá hôm nay law in Vietnam, what is a credit card? Will vtv2 trực tiếp bóng đá hôm nay person who has an overdue credit card payment be liable to criminal prosecution in Vietnam? - Source: Internet

What are conditions for issuance of credit cards in Vietnam?

Pursuant to Clause 1.c Article 15 of vtv2 trực tiếp bóng đá hôm nay Circular 19/2016/TT-NHNN (amended by Clause 6.a and 6.b, Article 1 of vtv2 trực tiếp bóng đá hôm nay Circular 26/2017/TT-NHNN) stipulating credit card-based credit facility agreement as follows:

Credit card-based credit facility agreement

1. Credit card-based credit facility agreement must satisfy vtv2 trực tiếp bóng đá hôm nay following requirements:

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c) vtv2 trực tiếp bóng đá hôm nay card issuer shall consider and decide vtv2 trực tiếp bóng đá hôm nay card-based credit extension if vtv2 trực tiếp bóng đá hôm nay following requirements are satisfied:

(i) vtv2 trực tiếp bóng đá hôm nay cardholder is an eligible entity as prescribed in Clause 1 or Clause 2 Article 16 herein and is not an entity ineligible for credit extension prescribed in Article 126 of vtv2 trực tiếp bóng đá hôm nay Law on Credit Institutions (as amended);

(ii) vtv2 trực tiếp bóng đá hôm nay cardholder must use vtv2 trực tiếp bóng đá hôm nay loan amount for proper purposes and its/his/her financial capacity for repaying debt on schedule;

d) vtv2 trực tiếp bóng đá hôm nay card issuer shall consider requesting vtv2 trực tiếp bóng đá hôm nay cardholder to provide types of security for its/his/her liability as prescribed.

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As regulations above, conditions for issuance of credit cards in Vietnam are as follows:

(1) vtv2 trực tiếp bóng đá hôm nay cardholder shall be one of vtv2 trực tiếp bóng đá hôm nay following entities:

- For principal cardholders being individuals:

+ Any person who is 18 years of age or older and has full legal capacity;

+ Any person aged 15 to less than 18 years who does not have lack of legal capacity or limited legal capacity;

- For principal cardholders being organizations:

+ Be eligible for issuance of debit cards

+ Legally established and operated under Vietnamese law

(2) Be not an entity ineligible for credit extension prescribed in Article 126 of vtv2 trực tiếp bóng đá hôm nay Law on Credit Institutions in 2010 (amended by Clause 19 Article 1 of vtv2 trực tiếp bóng đá hôm nay Law on amendments to vtv2 trực tiếp bóng đá hôm nay Law on Credit Institutions in 2017)

(3) vtv2 trực tiếp bóng đá hôm nay cardholder must use vtv2 trực tiếp bóng đá hôm nay loan amount for proper purposes and its/his/her financial capacity for repaying debt on schedule

Will vtv2 trực tiếp bóng đá hôm nay person who has an overdue credit card payment be liable to criminal prosecution in Vietnam?

Pursuant to Article 175 of vtv2 trực tiếp bóng đá hôm nay Criminal Code in 2015 (amended by Clause 35 Article 1 of vtv2 trực tiếp bóng đá hôm nay Law on amendments to vtv2 trực tiếp bóng đá hôm nay Criminal Code in 2017) stipulating abuse of trust to appropriate property as follows:

Abuse of trust to appropriate property

1. A person who commits any of vtv2 trực tiếp bóng đá hôm nay following acts to obtain another person property which is assessed at from VND 4,000,000 to under VND 50,000,000, or under VND 4,000,000 while having incurred an administrative penalty for property appropriation or while having an unspent conviction for this offence or any of vtv2 trực tiếp bóng đá hôm nay crimes specified in Article 168, 169, 170, 171, 172, 173, 174 and 290 hereof, or vtv2 trực tiếp bóng đá hôm nay property obtained is vtv2 trực tiếp bóng đá hôm nay primary means of livelihood of vtv2 trực tiếp bóng đá hôm nay victim or vtv2 trực tiếp bóng đá hôm nay victim’s family shall face a penalty of up to 03 years' community sentence or 06 - 36 months' imprisonment:

a) Taking a loan, borrowing, leasing property of another person or receiving property of another person under a contract, then uses deception to appropriate it or refuses to repay vtv2 trực tiếp bóng đá hôm nay loan or return vtv2 trực tiếp bóng đá hôm nay property when vtv2 trực tiếp bóng đá hôm nay repayment or return of property is due despite he/she is capable of doing so;

b) Taking a loan, borrowing, leasing property of another person or receiving property of another person under a contract and then uses it for illegal purposes which result in vtv2 trực tiếp bóng đá hôm nay offender's inability to repay vtv2 trực tiếp bóng đá hôm nay loan or return vtv2 trực tiếp bóng đá hôm nay property.

2. This offence committed in any of vtv2 trực tiếp bóng đá hôm nay following circumstances carries a penalty of 02 - 07 years' imprisonment:

a) vtv2 trực tiếp bóng đá hôm nay offence is committed by an organized group;

b) vtv2 trực tiếp bóng đá hôm nay offence is committed in a professional manner;

c) vtv2 trực tiếp bóng đá hôm nay property illegally obtained is assessed at from VND 50,000,000 to under VND 200,000,000;

d) vtv2 trực tiếp bóng đá hôm nay offence involves abuse of vtv2 trực tiếp bóng đá hôm nay offender's position or power or committed in vtv2 trực tiếp bóng đá hôm nay name of an agency or organization;

dd) vtv2 trực tiếp bóng đá hôm nay offender employs deceitful methods to commit vtv2 trực tiếp bóng đá hôm nay offence;

e) vtv2 trực tiếp bóng đá hôm nay offence has a negative impact on social security, order or safety;

g) Dangerous recidivism.

3. If vtv2 trực tiếp bóng đá hôm nay property illegally obtained is assessed at from VND 200,000,000 to under VND 500,000,000, vtv2 trực tiếp bóng đá hôm nay offender shall face a penalty of 05 - 12 years' imprisonment.

4. If vtv2 trực tiếp bóng đá hôm nay property illegally obtained is assessed at from ≥ VND 500,000,000, vtv2 trực tiếp bóng đá hôm nay offender shall face a penalty of 12 - 20 years' imprisonment.

5. vtv2 trực tiếp bóng đá hôm nay offender might also be liable to a fine of from VND 10,000,000 to VND 100,000,000 or prohibited from holding certain positions or doing certain jobs for 01 - 05 years or have part or all of his/her property confiscated.

Therefore, if a credit card debtor who is overdue has signs of absconding or deceiving to avoid paying debts, they may be prosecuted for vtv2 trực tiếp bóng đá hôm nay following criminal penalties:

- Imprisonment for up to 3 years if vtv2 trực tiếp bóng đá hôm nay value of vtv2 trực tiếp bóng đá hôm nay property stolen is from 4,000,000 VND to less than 50,000,000 VND, or less than 4,000,000 VND but vtv2 trực tiếp bóng đá hôm nay offender has been administratively sanctioned for vtv2 trực tiếp bóng đá hôm nay same act or has been convicted of crimes infringing on property rights that have not been erased from vtv2 trực tiếp bóng đá hôm nay criminal record.

- Imprisonment from 2 to 7 years if vtv2 trực tiếp bóng đá hôm nay value of vtv2 trực tiếp bóng đá hôm nay property stolen is from 50 to less than 200 million VND.

- Imprisonment from 5 to 12 years if vtv2 trực tiếp bóng đá hôm nay value of vtv2 trực tiếp bóng đá hôm nay property stolen is from 200 to less than 500 million VND.

- Imprisonment from 12 to 20 years if vtv2 trực tiếp bóng đá hôm nay value of vtv2 trực tiếp bóng đá hôm nay property stolen is 500 million VND or more.

Best regards!