LOAN AGREEMENTS IN VIETNAM – RIGHTS AND RESPONSIBILITIES

Civil Code 2015 continue forbidding the lender from demanding the borrower to return the property prior to the due date except (i) the borrower willingly return the loans and pay interest for the entire term; (ii) other cases stipulated by laws. For example, it is the cases where bank or credit institution demanding the borrower to return the loans prior the due date under Law on Credit Institutions.

Borrower must pay interest for the entire team even in case of returning the loans prior the due date except otherwise agreed by the parties.

Content	Civil Code 2005	Civil Code 2015
Lender MIGHT not demand the borrower to return the loan prior the due date under Civil Code 2015	O	O
Lender MIGHT demand the borrower to return the loans prior the due date under other law.	X	O
Borrower MIGHT return the loan prior the due date	O	O
Borrower MUST pay interest for the entire term, except otherwise agreed	O	O
http://legalwiki.blogspot.com