Circular No. 78/2008/TT-BTC of September 15, 2008, guiding the implementation of a number of contents of the Government’s Decree No. 27/2007/ND-CP of February 23, 2007, on e-transactions in financial activities.

THE MINISTRY OF FINANCE

SOCIALIST REPUBLIC OF VIETNAM Independence – Freedom – Happiness

No. 78/2008/TT-BTC

Ha Noi, September 15, 2008

 

CIRCULAR

GUIDING THE IMPLEMENTATION OF A NUMBER OF CONTENTS OF THE GOVERNMENT’S DECREE NO. 27/2007/ND-CP OF FEBRUARY 23, 2007, ON E-TRANSACTIONS IN FINANCIAL ACTIVITIES

Pursuant to the November 29, 2005 Law on E-Transactions;
Pursuant to the November 29, 2006 Law on Information Technology;

Pursuant to the Government’s Decree No. 27/ 2007/ND-CP of February 23,2007, providing for e-transactions in financial activities;

Pursuant to the Government’s Decree No. 77/ 2003/ND-CP of July 1, 2003, defining the functions, tasks, powers and organizational structure of the Ministry of Finance;

The Ministry of Finance guides the implementation of a number of contents of the Government’s Decree No. 27/2007/ND-CP of February 23, 2007, providing for e-transactions in financial activities, as follows:

Part I

GENERAL PROVISIONS

1. Governing scope

This Circular specifically guides requirements on parties entering into e-transactions in financial activities: the use of the Finance Ministry’s e-data; the use of e-signatures: the legal validity of and specific signs on converted documents: procedures for the grant, suspension or revocation of papers of recognition of value-added network (VAN) service providers; VAN service charges; and relationships between VAN service providers and their partners.

2. Subjects of application

Users of e-transactions in financial activities and providers of value-added network services on e-transactions in financial activities.

3. Interpretation of terms

The terms referred to in this Circular have the same meanings as already defined in Decree No. 27/2007/ND-CP. Under this Circular, the terms below are construed as follows:

3.1. Technical infrastructure in e-transactions includes hardware equipment, applied software and transmission lines.

3.2. Professional technical regulations mentioned in Clause 2, Article 4 of Decree No. 27/2007/ND-CP refer to technical infrastructure conditions, display formats and forms of e-documents. e-signatures, digital signatures, processes to ensure integrity, safety and confidentiality in conducting e-transactions in financial activities. The Ministry of Finance shall specify in specialized guiding documents professional technical regulations applicable to each type of operation.

3.3. Professional agencies means units under the Ministry of Finance which perform the state management of e-transactions in financial activities, including the General Department of Taxation, the General Department of Customs, the State Securities Commission, the State Treasury, the National Reserves, and the Financial Informatics and Statistics Department.

3.4. Value-added network services in financial activities (referred to as VAN services) means the services of transmitting and receiving e-documents between service users and professional agencies to conduct e-transactions in financial activities.

4. Competence to grant or revoke papers of recognition of VAN service providers

Depending on the requirements of each specialized financial operation, professional agencies shall grant or revoke papers of recognition of VAN service providers in accordance with this Circular.

Part II

SPECIFIC PROVISIONS

I. REQUIREMENTS ON PARTIES ENTERING INTO E-TRANSACTIONS IN FINANCIAL ACTIVITIES

1. Requirements on providers of services of e-transactions in financial activities

a/ Being organizations licensed to provide financial services in professional operations specified in Article 11 of Decree No. 27/2007/ ND-CP;

b/ Making public, and taking responsibility before law for, service use conditions such as infrastructure, time of service provision, capability to control and handle risks occurring in the course of transactions, places for lodging complaints and responding to inquiries.

2. Requirements on users of services of e-transactions in financial activities

a/ Committing to follow e-transaction processes developed by providers of e-transaction services. Such commitment may be made in the form of contract or notice as agreed upon between transaction parties, which must indicate legal responsibilities of the parties.

b/ Having e-signatures or digital signatures as provided for by law.

II. USE OF DATABASES OF PROFESSIONAL AGENCIES

1. Agencies, organizations and individuals that wish to use databases directly operated and managed by professional agencies for conducting e-transactions in financial activities must meet the following requirements:

1.1 Having infrastructure and application systems ready for data exchange;

1.2. Strictly following e-data display formats applicable to each type of e-transaction as specified by professional agencies;

1.3. Satisfying professional agencies’ requirements for technical infrastructure applicable to each type of transaction;

1.4. Obtaining professional agencies’ written approval of solutions to exchange e-information and -data developed by them, provided that the above requirements are satisfied.

2. Procedures for approval of plans to use databases of professional agencies

2.1. Agencies, organizations and individuals that wish to use professional agencies’ databases for conducting e-transactions in financial activities shall each make 5 dossier sets and send them to professional agencies. Such a dossier comprises:

a/A written application for supply and use of databases of professional agencies;

b/Ways of exchanging e-information and -data with professional agencies.

2.2. Within 30 working days after receiving valid dossiers, professional agencies Shall give written replies to applicants, and clearly state the reason in case of disapproval.

III. USE OF E-SIGNATURES

Under Article 14 of Decree No. 27/2007/ND-CP, organizations and individuals entering into transactions with finance agencies shall use digital signatures supplied by public certification authorities. If public certification services are unavailable, transaction parties may agree in writing on the use of e-signatures to ensure convenience and safety in the course of conducting transactions.

IV. LEGAL VALIDITY OF PRINTED DOCUMENTS CONVERTED FROM E-DOCUMENTS AND VICE VERSA (REFERRED TO AS CONVERTED DOCUMENTS)

A. LEGAL VALIDITY OF CONVERTED DOCUMENTS

1. A con verted document has the legal validity if meeting the requirements regarding the integrity of information on the original document, the specific sign certifying the conversion, and the signature and full name of the person effecting the conversion under Clauses 1 and 2. Article 7 of Decree No. 27/2007/ND-CP.

2. For some converted documents, when necessary and depending on the requirements of each operation, professional units may require, in specialized guiding documents, signatures of heads of units or persons authorized by those heads on converted documents as prescribed by law.

B. SPECIFIC SIGNS ON CONVERTED DOCUMENTS

1. The specific sign on a printed document converted from an e-document must fully contain the following information: the phrase “DOCUMENT CONVERTED FROM E-DOCUMENT” for distinguishing a converted document from the original document; full name and signature of the person effecting the conversion; and time of conversion. Unless otherwise provided in specialized guiding documents, the specific sign on a converted documents expressed in the following form:

Document converted from e-document

Full name: Signature:

Time of conversion:

2. The specific sign on an e-document converted from a printed document must fully contain the following information: a sequence of characters for distinguishing a converted document from the original document; full name and e-signature of the person effecting the conversion: and time of conversion. Forms of expressing specific signs are stipulated in specialized guiding documents. Unless otherwise provided in specialized guiding documents, the specific sign on a printed converted document is expressed in the following form:

Document converted from printed document

Full name: Signature:

Time of conversion:

3. Depending on the requirements of each operation, professional agencies may prescribe in specialized guiding documents more specific signs on original documents of converted documents.

V. GRANT OF PAPERS OF RECOGNITION OF VAN SERVICE PROVIDERS

A. PROCEDURES FOR GRANT OF PAPERS OF RECOGNITION OF VAN SERVICE PROVIDERS

1. Criteria for the grant of recognition papers

1.1. Requirements on VAN service providers

a/ Being an enterprise operating in Vietnam with a business registration certificate or investment certificate/investment license in the information technology domain;

b/ Having experience in developing information technology solutions for enterprises; and solutions to exchange e-data between professional agencies and enterprises, specifically:

bl/ Having operated for at least 5 years in developing information technology solutions or software;

b2/ Having successfully developed information technology systems for at least 50 enterprises;

b3/ Having operated an e-data exchange system to exchange e-data between its branches or between the enterprise and its partners.

1.2. Financial requirements

a/ Having full financial capacity to establish a technical equipment system and organize and maintain operation suitable to the scope of service provision;

b/ Having a credit institution’s paper of guarantee or having bought insurance for compensation for possible risks in the course of providing services of transmitting and receiving e-documents between service users and professional agencies;

c/ Having or hiring a working office and places for installing machinery and equipment in accordance with the law on fire and explosion prevention and fighting and suitable to the types of provided services.

1.3. Personnel requirements

Having staff members satisfying the requirements on professional qualifications and scope of service provision, specifically:

a/ Technicians must possess international certificates for operation and confidentiality of information technology systems;

b/ Operators must be knowledgeable about financial operations and the law on finance.

1.4. Technical requirements

a/ Establishing a technical equipment system satisfying the following requirements:

a1/Allowing service users to access services and ensuring around-the-clock and 7 days-a-week connection with the online e-data processing systems of professional agencies. The duration for suspending the system for maintenance must not exceed 2 of the total hours of service provision:

a2/ Ensuring confidentiality, integrity and readiness of data exchanged between parties entering into transactions; taking measures to control transactions between service users and professional agencies;

a3/ Being capable of detecting, warning and preventing all illegal access and forms of hacking in the network environment;

a4/ Applying data copying, restoring and storing processes which meet minimum storage-quality requirements below:

+ The data storage system must meet, or be proved to conform to, standards on data storage systems:

+ Applying data copying and restoring processes in case of system failures; ensuring online copying of all data; and ensuring that the maximum time limit for retrieving data is 8 hours after a system failure occurs;

a5/ Conforming to standards on information system security;

b/ Applying solutions to store e-documents. results of data transmission and receipt between parties entering into transactions and e-documents during the time transactions have not yet been completed, meeting the following minimum requirements:

bl/ Original e-data massages must be stored in the svstem until transactions are successfully conducted;

b2/ Original e-data massages may be accessed online until transactions are successfully conducted:

c/ Information relating to the course of conducting e-transactions in the system must be stored for at least 10 years after transactions are successfully conducted. Such information may be accessed online within the above storage time limit;

d/ Having standby plans and systems to maintain safe and uninterrupted operation, and plans on response to contingencies and failures;

e/ Having plans to expand services in case of increase in service use.

2. Procedures for registration of VAN service provision

2.1. Dossiers of registration for VAN service provision

A dossier of registration for VAN service provision is made in 5 sets, each comprising:

a/The organization’s registration application for VAN service provision;

b/ The business registration certificate or investment certificate/investment license of the Vietnam-based foreign organization (a notarized copy);

c/The credit institution’s (original) paper of guarantee or insurance policy (a notarized copy) on compensation for possible risks in the course of providing services of transmitting and receiving e-documents between VAN service users and professional agencies;

d/The organization’s website address for service users’ access and use.

e/ A scheme on VAN service provision, comprising:

el/ A detailed business plan, indicating the scope of service provision and service users: service quality standards; service charges: total investment fund and allocation of investment fund in each period: the form of investment and capital raising plan; personnel; and other necessary information;

e2/ A plan on technical infrastructure and solutions; the equipment system meeting technical requirements specified in this Circular;

e3/ Registration of the time of connection to the professional agency’s e-data processing system for VAN service provision;

e4/A written commitment to provide services to users for at least 5 years and develop wide-coverage information technology system which is ready to connect to the professional agency’s e-data processing system.

2.2. Receipt of dossiers

Dossiers of registration for VAN service provision shall be submitted to professional agencies. Depending on each specialized financial operation, dossiers shall be submitted at a relevant professional agency. If dossiers are complete and valid, professional agencies shall issue notices of receipt of dossiers; if refusing to receive dossiers, professional agencies shall give written replies clearly stating the reason.

2.3. Examination and acceptance of dossiers of registration for VAN service provision

a/ Within 30 days after receiving organizations’ dossiers of registration for VAN service provision, professional agencies shall examine and verify them. If the dossiers fully meet the criteria specified at Clause 1, Point A of Section V.

professional agencies shall accept them in writing. When necessary, the time limit for dossier examination may be extended but must not exceed 60 days after the receipt of the dossiers.

b/ If organizations registering to provide VAN services fail to satisfy the conditions specified at Clause 1, Point A, Section V of this Circular, professional agencies shall notify the refusal in writing, clearly stating the reason.

2.4. Publication of decisions accepting dossiers of registration for VAN service provision

Right after deciding to accept dossiers of registration for VAN service provision, professional agencies shall publicize on their websites and the Finance Ministry’s website a list of organizations with accepted dossiers of registration for VAN service provision.

3. Procedures for re-registration of the time for connection to professional agencies’ e-data processing systems for VAN service provision

3.1. Cases in which re-registration of the time for connection to professional agencies’ e-data processing systems is accepted

a/ Making re-registration before the time of registration of connection to professional agencies’ e-data processing systems, as indicated in dossiers of registration for VAN service provision.

b/ Invoking, though the registered time limit has expired, plausible reasons for non-operation of the system.

3.2. Procedures for re-registration of the time for connection to professional agencies’ e-data processing systems

a/ In case of re-registration before the time of connection registration

When organizations apply in writing for re-registration of the time for connection to professional agencies’ e-data processing systems, professional agencies shall consider and accept such application.

b/ In case the time limit for registration of the commitment to operate VAN service provision systems has expired

b1/ Organizations shall justify the delay in writing and re-register the time for connection to professional agencies’ e-data processing systems.

b2/ Based on dossier examination results, professional agencies shall issue decisions accepting the re-registration of the time for operating VAN service provision systems: in case of non-acceptance, professional agencies shall give written replies clearly stating the reason.

4. Procedures for connecting information technology systems of organizations with accepted dossiers of registration for VAN service provision to professional agencies’ e-data processing systems

The order of connecting information technology systems of organizations with accepted dossiers of registration for VAN service provision to professional agencies’ e-data processing systems is as follows:

4.1. Organizations shall officially register in writing the time of connection to professional agencies’ e-data processing systems.

4.2. After receiving the organizations’ written official registrations for connection, professional agencies shall:

a/ Inspect and survey the organizations’ information technology systems:

b/ Within 15 working days after receiving written official registrations, issue to the organizations notices of the order of connection:

c/ Make a minutes recognizing the connection.

5. Grant of papers of recognition of VAN service providers

Based-on organizations’ dossiers of application for VAN service provision: the results of examination of dossiers and documents, the criteria for service providers, capability and personnel and technical plans; and the minutes recognizing the successful connection of organizations’ information technology systems to professional agencies’ e-data processing systems, professional agencies shall:

5.1. Grant papers of recognition of VAN service providers to organizations which have completed connection to professional agencies’ data processing systems;

5.2. Post on the Finance Ministry’s website and their own websites a list of organizations that have been granted papers of recognition of VAN service providers.

B. PROCEDURES FOR CHANGING CONTENTS OF. AND RE-GRANTING, PAPERS OF RECOGNITION OF VAN SERVICE PROVIDERS

1. VAN service providers shall send dossiers of application for change of the contents of papers of recognition of VAN service providers to professional agencies in the following cases:

a/ They wish to change the contents of the recognition papers:

b/They are reorganized.

2. A dossier of application for change of the contents of a paper of recognition of VAN service provider is made in 5 sets, each comprising: an application for change of the contents of the recognition paper; a copy of the valid recognition paper; a report on the operation situation and reasons for such change; details of proposed changes and relevant documents.

3. Within 30 working days after receiving valid dossiers of application for change of the contents of papers of recognition of VAN service providers, professional agencies shall verify the dossiers and conduct on-site inspection when necessary. If proposed changes still satisfy the requirements specified at Clause 1, Point A of Section V, professional agencies shall grant renewed papers of recognition of VAN service providers to organizations. If proposed changes fail to fully meet the prescribed requirements, professional agencies shall issue written notices clearly stating the reason.

4. In case papers of recognition of VAN service providers are lost, torn, burnt or otherwise destroyed, VAN service providers may be re-granted papers. In order to be re-granted papers of recognition of VAN service providers, organizations shall send applications clearly stating the reason for re-grant to professional agencies and pay charges therefor.

C. PROCEDURES FOR SUSPENSION OF VAN SERVICE PROVISION

1. Cases subject to suspension

a/ VAN service providers operate for purposes other than those specified in papers of recognition of VAN service providers:

b/ VAN service providers fail to meet one of the conditions specified at Clause 1, Point A. Section V of this Circular in the course of providing services as indicated in dossiers of registration of schemes on VAN service provision;

c/ Suspension under decisions of courts or competent state agencies.

2. Procedures for suspension

a/ Agencies competent to perform state management of, and sanction administrative violations related to, e-transactions in financial activities that detect VAN service providers” commission of acts specified at Items a and b, Clause 1, Point D, Section V shall make written records of providers’ violations and transfer dossiers of violations to professional agencies which shall consider and issue decisions to suspend the operation of those providers.

b/ Upon receiving professional agencies’, courts’ or competent state agencies’ decisions on operation suspension, VAN service providers shall:

bl/ Suspend the connection to professional agencies’ e-data processing systems;

b2/ Stop signing new contracts on VAN service provision with service users:

b3/ Immediately remedy causes that lead to such suspension:

b4/ Handle other matters related to the provision of VAN services to service users and professional agencies.

c/ Within one working day after suspension decisions are issued, professional agencies shall notify such suspension on their own websites.

d/ Within 3 months after being suspended from operation, if VAN service providers can remedy violations specified in Clause 1 of Point C, professional agencies may consider and issue decisions to permit those providers to resume their operation. If VAN service providers fail to remedy violations, the suspension duration shall be extended for additional 3 months. Past this time limit. VAN service providers that fail to remedy violations shall have their papers of recognition of VAN service providers revoked.

D. PROCEDURES FOR REVOCATION OF PAPERS OF RECOGNITION OF VAN SERVICE PROVIDERS

1. Cases subject to revocation

a/ Forging documents or supplying inaccurate information in dossiers of registration of schemes on VAN service provision;

b/ Failing to provide VAN services within 12 months after being granted papers of recognition of VAN service providers;

c/ Committing prohibited acts specified in Article 9 of the Law on E-Transactions;

d/ Past the prescribed time limit, failing to remedy causes of the suspension;

e/ Voluntarily applying for the revocation of papers of recognition of VAN service providers;

f/ Being dissolved under Points a. b and c, Clause 1. Article 157 of the November 29. 2005 Enterprise Law:

g/ Having business registration certificates or investment certificates/investment licenses revoked, or being declared bankrupt under court rulings.

2. Order of revocation of VAN service provision certificates

2.1. For cases subject to revocation specified at Points a, b, c and d, Clause 1, Point D, Section V of this Circular, the order of revocation is specified as follows:

a/ Agencies competent to perform the state management of, and sanction administrative violations related to, e-transactions in financial activities that detect VAN service providers’ commission of violations shall make written records of providers’ violations and transfer dossiers of violations to professional agencies which shall consider and issue decisions to suspend the operation of those providers.

b/ Right upon receiving decisions suspending the provision of VAN services, organizations shall:

bl/ Suspend the connection to professional agencies’ e-data processing systems;

b2/ Stop signing new contracts on VAN service provision with service users;

b3/ Within 15 days after the issuance of decisions on operation suspension, report in writing to professional agencies on solutions to liquidate contracts with service users and data processing options:

b4/Transfer all data and information stored in the course of VAN service provision to professional agencies or other VAN service providers at the request of service users and upon approval of professional agencies;

b5/ Handle other matters related to VAN service provision with service users and professional agencies at the request of professional agencies;

b6/ Liquidate, within 30 days, VAN service provision contracts signed with service users;

c/ Within 5 working days after VAN service providers complete contract liquidation and settle relevant matters, professional agencies shall issue decisions to revoke papers of recognition of VAN service providers.

2.2. For cases specified at Item e, Clause 1, Point D, Section V of this Circular, the order of revocation is as follows:

VAN service providers that apply for the suspension of VAN service provision and the revocation of papers of recognition of VAN service providers shall send application dossiers to professional agencies for consideration.

a/ A dossier of application for the revocation of a paper of recognition of VAN service provider comprises:

a1/ A written application for the suspension of VAN service provision and the revocation of the paper of recognition of VAN service provider;

a2/ A copy of the paper of recognition of VAN service provider;

a3/ A written justification of application for the suspension of VAN service provision and the revocation of the paper of recognition of VAN service provider;

a4/ A written report on the provider’s operation from the time of operation commencement to the time of application;

a5/A written proposal on the contents of. and time of liquidating, contracts with service users, options to transfer data to professional agencies, and other relevant matters.

b/ Receipt

Dossiers of application for the revocation of papers of recognition of VAN service providers shall be submitted to professional agencies. If dossiers are complete and valid, professional agencies shall issue notices of receipt of dossiers: in case of non-acceptance, they shall give written replies clearly stating the reason.

c/ Examination and revocation of papers of recognition of VAN service providers

After receiving dossiers, professional agencies shall:

c1/ Examine written justifications for the revocation application;

c2/ Examine and verify service providers’ business activities related to the suspension of VAN service provision;

c3/ Issue notices of acceptance, decide to suspend VAN service provision and request service providers to abide by the provisions of Item b, Clause 2, Point D, Section V of this Circular;

c4/ Within 30 days after receiving decisions on operation suspension, service providers shall fulfill all responsibilities and obligations towards service users and professional agencies;

c5/ Professional agencies shall issue decisions to revoke papers of recognition of VAN service providers after these providers fulfill all their responsibilities and obligations as prescribed by

law.

2.3. For cases specified at Item f. Clause 1, Point D, Section V of this Circular, the order of revocation is as follows:

a/ Within 7 days after dissolution decisions are approved, service providers shall send suspension decisions to professional agencies.

b/ After receiving dissolution decisions from service providers, professional agencies shall:

bl/ Request those providers to settle matters related to the liquidation of contracts with service users, and data processing options; to transfer all data and information stored in the course of VAN service provision to professional agencies or other VAN service providers at the request of service users and upon approval of professional agencies: to report to professional agencies within 5 working days after completely comply with the requirements of professional agencies;

b2/ Send notices to business registries on professional agencies’ carrying out of procedures for the revocation of papers of recognition of VAN service providers;

b3/ Issue decisions to revoke papers of recognition of VAN service providers after the providers completely comply with their requirements.

2.4. For the case specified at Item g, Clause 1, Point D, Section V of this Circular, the order of revocation is as follows:

a/ While competent state agencies carry out procedures to revoke their business registration certificates or investment certificates/investment licenses or declare their bankruptcy. VAN service providers shall settle matters related to the liquidation of contracts with service users and process data: transfer all data and information stored in the course of VAN service provision to professional agencies or other VAN service providers at the request of service users and upon approval of professional agencies: to report to professional agencies within 5 working days after completely complying with their requirements;

b/In case VAN service providers fail to fulfill obligations specified at Item a, Clause 2.4, Point D, Section V of this Circular, after having their business registration certificates or investment certificates/investment licenses revoked by competent agencies or being declared bankrupt under court rulings, at-law representatives and members for limited liability companies; company owners, for one-member limited liability companies: members of Boards of Directors, for joint-stock companies; or partners, for partnerships, shall jointly fulfill the obligations specified at Item a, Clause.2.4, Point D, Section V of this Circular;

cl Professional agencies shall issue decisions to revoke papers of recognition of VAN service providers upon receiving competent agencies’ decisions to revoke business registration certificates or investment certificates/investment licenses of service providers or declare their bankruptcy;

d/ Publicization of decisions revoking papers of recognition of VAN service providers

Within 5 working days after issuing decision revoking papers of recognition of VAN service providers, professional agencies shall post up these decisions at their working offices and on their websites.

VI. VAN SERVICE CHARGES

1. Conditions for collection of VAN service charges

VAN service providers may collect service charges only when they already have operated their information technology systems according to the descriptions in technical solution schemes, complete the connection to professional agencies’ e-data processing systems, and have their names posted by professional agencies on their websites.

2. Management of VAN service charges

2.1. VAN service users and providers may agree on and modify the scope of service provision and service charge rates as appropriate. Such agreement must be made under contracts between the parties.

2.2. Service users shall pay charges for VAN services to VAN service providers as agreed in contracts.

2.3. VAN service providers shall:

a/ Supply service charge invoices to charge payers under current regulations on the issuance, management and use of invoices.

b/Take responsibility for all their revenues and expenditures and observe current accounting regulations.

cl Abide by other regulations on service charges.

VII. RELATIONSHIP BETWEEN VAN SERVICE PROVIDERS AND THEIR PARTNER

1. The relationship between VAN service providers and VAN service users is established under contracts on VAN service provision.

1.1. Rights and obligations of VAN service providers

a/ Rights of VAN service providers

a 1/To conclude written contracts with service users on VAN service provision and use. clearly defining responsibilities of parties related to the contents of e-documents.

a2/ To refuse to provide VAN services to individuals and organizations unqualified to enter into transactions or breaching contracts.

a3/ To collect VAN service charges from service users to maintain their operation.

b/ Obligations of VAN service providers

b1/ To publicize their modes of operation and service quality on their service introduction websites.

b2/ To provide transmission services and complete forms of expressing e-documents for information exchange between service users and professional agencies.

b3/To send, receive and supply e-documents in a timely and integrated manner as agreed with parties entering into transactions.

b4/ To store results of data transmission and receipt and e-documents when transactions have not yet been completed.

b5/ To ensure connection infrastructure; take information control, security, safety, confidentiality and integrity measures; and supply other utilities to parties exchanging e-documents.

b6/To notify 30 days in advance service users and professional agencies of the suspension of their systems for maintenance, and measures to be taken to ensure service users’ interests.

1.2. Rights and obligations of service users

a/ Rights of service users:

al/To select VAN service providers already recognized and publicized on websites of professional agencies in order to sign VAN service provision contracts.

a2/ To use VAN services of VAN service providers under contracts between the two parties.

a3/To have information data on e-transactions in financial services kept confidentially VAN service providers, unless otherwise agreed.

b/ Obligations of service users:

bl/To strictly observe the terms of contracts signed with VAN service providers;

b2/ To create conditions for VAN service providers to take measures to ensure system safety and security;

b3/ To take responsibility before law for the contents created by them.

2. VAN service providers and professional agencies

VAN service providers are subject to professional agencies’ management of VAN service provision.

2.1. Rights and obligations of VAN service providers

a/ Rights of VAN service providers.

al/ To make connection to professional agencies’ e-data processing systems for providing VAN services after being certified by professional agencies as meeting the prescribed conditions.

a2/ To be assisted in financial operations by professional agencies for conducting data transmission and receipt transactions between service users and professional agencies.

a3/To collaborate with professional agencies in providing training to service users for VAN service provision.

a4/To be assisted by professional agencies in settling problems arising in the course of VAN service provision.

a5/To be provided with standard samples and formats by professional agencies for the VAN service provision.

b/ Obligations of VAN service providers:

bl/ Organizations holding papers of recognition of VAN service providers may make connection with and commence providing VAN services to service users only after completely developing information technology systems an these systems have been examined and certified by professional agencies.

b2/To supply adequate information and data to competent agencies upon request according to law.

b3/ To observe current legal provisions on telecommunications and the Internet as well as professional technical regulations promulgated by professional agencies.

b4/ To establish channels connecting to professional agencies’ e-data processing systems to ensure continuity, security and safety. When problems arise in the course of VAN service provision, to take the initiative in settling them and notify problems related to professional agencies’ e-data processing systems to professional agencies for coordinated settlement.

b5/ Implementation of regulations on reporting by VAN service providers to professional agencies

VAN service providers shall send to professional agencies biannual or irregular reports on their production, business, technical and operational activities at the request of professional agencies, take responsibility for, and prove, the accuracy and promptness of reported data.

2.2. Responsibilities of professional agencies

a/ To establish, maintain, and ensure connection of VAN service providers’ systems to professional agencies for providing VAN services.

b/To collaborate with VAN service providers in organizing training courses on specialized financial operations for which they are allowed to collect training fees.

c/ To inspect the operation of VAN service providers to ensure service quality and operation according to regulations.

Part III

ORGANIZATION OF IMPLEMENTATION

1. This Circular takes effect 15 days after its publication in “CONG BAO.”

2. Professional agencies, provincial-level Finance Services and concerned organizations shall implement this Circular.

3. Any problems arising in the course of implementation should be promptly reported to the Ministry of Finance for study and settlement.

 

FOR THE MINISTER OF FINANCE

VICE MINISTER

 

 

 

Pham Sy Danh

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