Use a copy of your vehicle registration when driving.

In order to ensure civil obligations in vehicle mortgages, Deputy Prime Minister Truong Hoa Binh has agreed to allow drivers to use certified copies of vehicle registration papers when driving.

Mr. TVN took out a loan to buy a car in installments. The finance company only provided a copy of the car registration (with a confirmation stamp), while the company kept the original - Photo: HUU KHOA

Accordingly, a certified copy of the vehicle registration must be accompanied by an original valid receipt from a credit institution.

The Deputy Prime Minister assigned the Ministry of Public Security to preside over and coordinate with the Ministry of Justice and the State Bank of Vietnam to guide the competent forces of the Public Security sector to impose penalties; the Ministry of Transport to preside over and coordinate with the Ministry of Justice and the State Bank of Vietnam to guide the Transport Inspectorate and those assigned to perform specialized transport inspection tasks to implement the above instructions in performing public duties.

The Deputy Prime Minister assigned the State Bank of Vietnam to preside over and coordinate with the Ministries of Public Security and Justice to issue documents in August 2017 to guide credit institutions in issuing the above-mentioned receipts, ensuring strictness and only issuing one original receipt with a validity period appropriate to the vehicle mortgage term.

The Ministry of Justice shall preside over and coordinate with the Ministries and agencies: Public Security, Transport, State Bank of Vietnam to review, propose amendments and supplements to relevant legal documents, ensuring clarity, transparency, consistency and synchronization in the legal system, creating favorable and open conditions for people and businesses while meeting state management requirements, and report to the Prime Minister before September 30, 2017.

Previously, in early July, many people who bought cars on installments were put in a difficult situation when the traffic police fined them for not presenting the original vehicle registration papers because the bank was holding the papers. This fine originated from a document of the Traffic Police Department (C67) of the Ministry of Public Security guiding the handling of administrative violations against vehicles mortgaged in banks, which stipulates that the mortgagee is allowed to keep the original vehicle registration papers.

Then the Governor of the State Bank (SBV) sent a document to the Ministry of Justice and the Ministry of Public Security requesting that banks be allowed to keep the original documents related to mortgaged assets in order to remove difficulties for banks while still ensuring the rights of mortgagees and creating favorable conditions for people as well as banks to carry out lending and borrowing activities.

According to TTO