The amended Civil Code of Vietnam needs to limit inequality between the secured creditors

In the process of amendment and supplement of the 2005 Civil Code of Vietnam, that is one of the important issues, there are many different opinions about a legal mechanism between secured creditor disposes of the goods in legal right to ensure secured creditors with unsecured and non-guaranteed creditors estimated. In the research process, amending the 2005 Civil Code of Vietnam, we believe that the need to continue to carefully consider the following issues:

1.       If registration system to the public, only regulations on secured creditor disposes of the goods Convention, which does not necessarily pose the issue of legal guarantee. In terms of nature, secured creditor disposes of the goods in legal right can directly affect a third person due to unforeseen risks for the security property. After all, the priority is strong or weak totally depends on the legal right to ensure it was, or rights guaranteed assessed. The selection of case application materials ensure the legal rights pursuant to the State's policy focus on career development, social relation, on the basis of trend assessment of socio-economic development of the country. For example, if applied to the right to take precedence for the sale of goods circulated in the course of business, commercial banks will be very difficult to accept for businesses to get loans and mortgage goods to secure the obligations of the loan contract. If credit is not granted, the business activities business stalled, the economy is difficult to develop the condition. The selection of the privilege to a subject in civil relation need to be very careful on the basis of assessment of the impact that such policies could cause actual.

2.       In the case of the Civil Code still hold the view that additional regulations on the goods rights legal guarantee, you may have solved the specific and relevant issues such as: The cases do arise, rather change, termination for each kind of legal rights guaranteed; conditions to be applied to objects to ensure legal rights; case the property is the subject of animal rights legal security does not exist, the address climate How legal consequences ... One of the principles set out to minimize the cases priority not through registration mechanism, as this really create equality between the relevant actors in civil exchanges. Law should encourage the subject to register in order to protect their own interests, in relation to the secured party.

3.       One of the goals when building on registration of security transactions is minimized the administrative interventions of public authorities and privileges in civil transactions. In other words, to access the registration law as the civil rights of every organization or individual, not the administrative relations, therefore the registration of security transactions entirely voluntary, non-mandatory. On the basis of principles and procedures for registration for all sorts of rights guaranteed to be really easy and convenient for people, businesses.

4.       To help address the relationship between the secured creditors in fair, the Civil Code provides for the registration of security transactions made ​​on the principles of notice and give rise to effective opposition to a third party (not rise to the validity of the contract or transaction). In this regard, we need to continue to research the contents as: principles speculation; countervailing force; priorities between stakeholders with interests be registered; relationship between the effective of the contract to the time of establishment of rights ...