In accordance with the Circular No. 02/2016/TT-NHNN on provision of the custody services, security cabinets and safes for lease by credit institutions issued by the State Bank of Vietnam on February 26, 2016, Credit institutions allows to have custody services, security cabinets and safes for lease when such services are included in the License for Establishment and Operation.
After the agreement is signed, the credit institution shall give the client his/her cabinet/safe keys. Each drawer shall have at least one lock with only 02 keys kept by the client. Where the client keep only one key, the spare key shall be sealed by the client in the presence of the credit institution and such spare key shall be kept at the credit institution.
In particular, the client shall be entitled to terminate the permanent agreement and request the credit institution to return his/her property at any time but shall submit a prior notice to the credit institution within an acceptable period of time as agreed in the agreement; the credit institution shall be entitled to terminate the permanent agreement and request the client to withdraw his/her property at any time but shall submit a prior notice to the client within an acceptable period of time as agreed in the agreement.
The credit institution shall decide and publish the schedule of charges for custody services or security cabinets and safe for lease at their head office, branches and transaction offices.
This Circular takes effect on April 09, 2016.
