On August 26, 2019, Circular 57/2019 / TT-BTC guides the mechanism of dealing with risks of credit guarantee funds for small and medium-sized enterprises. Circular 57/2019 / TT-BTC takes effect from October 15, 2019.
Accordingly, small and medium enterprises will be considered and handled risks in the following five cases:
– Customers suffer financial losses, assets affecting production and business activities, leading to failure to pay debts (principals and interests) on time under the signed debt acceptance contracts signed due to reasons such as: :
Natural disasters, crop failure, epidemics, fires;
Political risks, war.
– Customer goes bankrupt according to current regulations;
– Customers can not pay the debt (principal, interest) on time under the signed debt acknowledgment contract signed by:
The State changes policies affecting production and business activities of customers;
Risks due to other objective factors directly affecting the production and business activities of customers.
– Customers have bad debts (from group 3 to group 5) according to debt classification results prescribed in Clause 1, Article 36 of Decree 34/2018 / ND-CP of the Government.
The above-mentioned regulation helps to define more clearly the cases of small and medium enterprises being assisted in dealing with credit risks, creating favorable conditions for enterprises to develop.