All banks permitted to act as guarantee for housing projects
09:45 | 07/07/2015 Economy
All local and foreign banks and branches are permitted to stand security for housing projects in Vietnam, according to a State Bank of Vietnam circular effective from July 1.
(Photo: SGGP/Financial Investment)
According to the July effective revised Housing Law, investors of housing projects must be guaranteed by banks to ensure customers’ rights.
The banks are responsible for refunding a guaranteed amount of money that house buyers have paid the investors in advance if their houses are not built and delivered on schedule.
The refund must be made a month after the house delivery date expires./.
Source: SGGP News
Theo ven.vn
Lastest news
- How companies can reevaluate their organizations to build robust supply chains
- Vietnam needs more than US$128 billion to develop electricity in the next nine years
- Agriculture, a bright spot in grim economic picture
- Global economy: Fragile confidence in early 2021
- Processing and manufacturing industry needs better way to develop: experts
- Pandemic offers opportunities for Vietnam’s 2021 growth
- Strong recovery prospects for Vietnamese steel industry
- Vietnam’s stock market offers new opportunities
- Vietnam expects hospitality recovery in 2021: Savills
- Vietnam’s timber industry growth in difficult period
More news
- Vietnam’s seafood exports perform swimmingly due to free trade deals
- Five breakthrough solutions for garment and textile sector
- Business-cooperative-farmer linkage: Key to modern agriculture
- Vietnamese rice exports increase 10 percent
- Thuy Ung Village develops e-commerce app for horn products
- Vietnamese goods reach out to global markets despite pandemic
- Outlook positive for Vietnam’s retail market
- HCM City: Consumer prices see slight rise after Tet holiday
- Breakthrough growth expected for the 2021-2025 period
- Vietnam’s top 10 economic developments in 2020
