{"version":"1.0","provider_name":"Tilleke &amp; Gibbins","provider_url":"https:\/\/www.tilleke.com","author_name":"Eric","author_url":"https:\/\/www.tilleke.com\/author\/eric\/","title":"Vietnam\u2019s New Regulations on Bank Guarantees Set to Take Effect - Tilleke &amp; Gibbins","type":"rich","width":600,"height":338,"html":"<blockquote class=\"wp-embedded-content\" data-secret=\"iyUGwq11j9\"><a href=\"https:\/\/www.tilleke.com\/insights\/vietnams-new-regulations-on-bank-guarantees-set-to-take-effect\">Vietnam\u2019s New Regulations on Bank Guarantees Set to Take Effect<\/a><\/blockquote><iframe sandbox=\"allow-scripts\" security=\"restricted\" src=\"https:\/\/www.tilleke.com\/insights\/vietnams-new-regulations-on-bank-guarantees-set-to-take-effect\/embed\/#?secret=iyUGwq11j9\" width=\"600\" height=\"338\" title=\"&#8220;Vietnam\u2019s New Regulations on Bank Guarantees Set to Take Effect&#8221; &#8212; Tilleke &amp; Gibbins\" data-secret=\"iyUGwq11j9\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" class=\"wp-embedded-content\"><\/iframe><script type=\"text\/javascript\">\n\/* <![CDATA[ *\/\n\/*! This file is auto-generated *\/\n!function(d,l){\"use strict\";l.querySelector&&d.addEventListener&&\"undefined\"!=typeof URL&&(d.wp=d.wp||{},d.wp.receiveEmbedMessage||(d.wp.receiveEmbedMessage=function(e){var t=e.data;if((t||t.secret||t.message||t.value)&&!\/[^a-zA-Z0-9]\/.test(t.secret)){for(var s,r,n,a=l.querySelectorAll('iframe[data-secret=\"'+t.secret+'\"]'),o=l.querySelectorAll('blockquote[data-secret=\"'+t.secret+'\"]'),c=new RegExp(\"^https?:$\",\"i\"),i=0;i<o.length;i++)o[i].style.display=\"none\";for(i=0;i<a.length;i++)s=a[i],e.source===s.contentWindow&&(s.removeAttribute(\"style\"),\"height\"===t.message?(1e3<(r=parseInt(t.value,10))?r=1e3:~~r<200&&(r=200),s.height=r):\"link\"===t.message&&(r=new URL(s.getAttribute(\"src\")),n=new URL(t.value),c.test(n.protocol))&&n.host===r.host&&l.activeElement===s&&(d.top.location.href=t.value))}},d.addEventListener(\"message\",d.wp.receiveEmbedMessage,!1),l.addEventListener(\"DOMContentLoaded\",function(){for(var e,t,s=l.querySelectorAll(\"iframe.wp-embedded-content\"),r=0;r<s.length;r++)(t=(e=s[r]).getAttribute(\"data-secret\"))||(t=Math.random().toString(36).substring(2,12),e.src+=\"#?secret=\"+t,e.setAttribute(\"data-secret\",t)),e.contentWindow.postMessage({message:\"ready\",secret:t},\"*\")},!1)))}(window,document);\n\/* ]]> *\/\n<\/script>\n","description":"On October 25, 2024, the State Bank of Vietnam (SBV) issued Circular No. 49\/2024\/TT-NHNN (\u201cCircular 49\u201d) amending and supplementing certain provisions of Circular No. 11\/2022\/TT-NHNN dated September 30, 2022, on bank guarantees (\u201cCircular 11\u201d). However, shortly thereafter, the SBV replaced both Circular 11 and Circular 49 with Circular No. 61\/2024\/TT-NHNN (\u201cCircular 61\u201d) dated December 31, 2024, which incorporates most of the updates from Circular 49 while introducing further amendments to bank guarantee regulations to align with the 2024 Law on Credit Institutions and 2023 Law on Real Estate Business. Circular 61 has an effective date of April 1, 2025. Below, we highlight some new regulations on bank guarantees under Circular 61, including those that were adopted from Circular 49. Updated Definitions Circular 61 broadens the definition of \u201ccustomer\u201d in bank guarantee relationships, introducing the possibility of a fourth party. Traditionally, a customer would request a credit institution to guarantee its"}