THE PRIME MINISTER

Decision No. 976/QD-TTg dated July 01, 2015 of the Prime Minister prescribing the regulations on classification of debt at Vietnam Bank for Social Policies
Pursuant to the Law on Government organization dated December 25, 2001;
Pursuant to the Government's Decree No. 78/2002/ND-CP dated October 04, 2002 on credit for the poor and other beneficiaries of incentive policies;
At the request of Vietnam Bank for Social Policies in Request No. 23/TTr-NHCS dated mar 11, 2015 and Document no. 1165/BC-NHCS dated April 27, 2015 on promulgation of a Regulation on classification of debts at Vietnam Bank for Social Policies,
DECIDES:
Article 1. To issued theRegulations on classification of debts at the Vietnam Bank for Social Policies with this Decision.
Article 2. This Decision takes effect on the signing date.
Article 3. Ministers, Heads of ministerial agencies, Heads of Governmental agencies, Presidents of the People’s Committees of provinces, the Chairperson of the Executive Board, General Director of Vietnam Bank for Social Policies shall implement this Decision./.
The Prime Minister
Nguyen Tan Dung
 REGULATION
CLASSIFICATION OF DEBTS AT VIETNAM BANK FOR SOCIAL POLICIES
(Issued with Decision No. 976/QD-TTg dated July 01, 2015)
Chapter I
GENERAL PROVISIONS
Article 1. Scope of adjustment
1. This Regulation deals with classification of debts at the Vietnam Bank for Social Policies (hereinafter referred to as VBSP).
2. Debts classified under this Regulation include:
a) Debts received by VBSP upon its establishment from Agribank, State Treasury, and Vietinbank.
b) Loans granted by VBSP to the poor and other beneficiaries of incentive policies under regulations of the government and decisions of the Prime Minister.
c) Granted loans derived from investment trust under international agreements, decisions, or contracts with domestic and overseas entities.
Article 2. Interpretation of terms
The terms in this Regulation are construed as follows:
1. Debt: the debt balance of each of the loans mentioned in Clause 2 Article 1 of this Regulation.
2. Overdue debt: a debt whose principal has been overdue in part or in full.
3. Adjustment of repayment term: VBSP’s permission to change the term for repaying principal within the loan term agreed in the credit contract, provided the last repayment term remains unchanged.
4. Debt deferral: VBSP’s permission to defer the deadline for principal repayment to a later time than the deadline agreed previously in the credit contract.
5. Frozen loan: a loan whose repayment of principal may be delayed and payment of interest is exempt during the loan freezing period.
6. Clients: Organizations and individuals defined by law who have a credit relationship with VBSP.