Consulting, brokerage to buy, sell debt and assets

Consulting, brokerage to buy, sell debt and assets

Vimax Asia performs consulting and brokerage services to buy and sell debt and assets in accordance with the law

The concept of debt trading brokerage is specified in Clause 8, Article 3 of Decree 69/2016/ND-CP on conditions for debt trading services, whereby:

Debt brokerage is an intermediary service, arranging debt trading between debt buyers and sellers and enjoy brokerage service fees as agreed, excluding auction activities of auction organizations Professional prices.

Vimax Asia provides more information about debts identified as bad debts that need to be handled

The nature of bad debt is a loan amount that the creditor determines cannot be recovered and is written off from the list of receivables of the creditor. For banks, bad debt means money lent to customers, usually businesses, that cannot be recovered because that business makes a loss or goes bankrupt, etc. In general, a business always has to estimate the bad debts in the current business cycle based on the bad debt data in the previous period.

The definition of bad debt of Vietnam in Decision 493/2005/QD-State Bank dated April 22, 2005, of the State Bank is as follows: “NPLs are debts classified into group 3 (subprime) ), group 4 (doubt) and group 5 (likely to lose capital).” Specifically, group 3 or less includes debts that are overdue for payment of interest and/or principal for more than 90 days, and at the same time, Article 7 of the above Decision also stipulates that commercial banks shall base on customers’ debt repayment ability. to account loans into the appropriate categories. According to the above concept, bad debt in Vietnam is determined by two factors: (i) overdue for more than 90 days and (ii) worrying about the ability to repay. This is considered the definition of VAS.

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