1. Do you have to make a contract to borrow money? Does the loan contract have to be notarized?

Article 119 of the 2015 Civil Code regulates this issue as follows:

1. Civil transactions are expressed verbally, in writing or by specific acts.

Civil transactions through electronic means in the form of data messages in accordance with the law on electronic transactions are considered written transactions.

2. Where the law stipulates that civil transactions must be expressed in writing notarized, authenticated or registered, such provisions must be complied with.

Thus, Vietnamese law is not required to notarize the loan contract. Borrowing money can still take place legally even though it is not signed in writing. However, in fact, to avoid risks such as controversy, litigation, ensure transparency and increase legality, many people still enter into contracts and conduct notarization.

2. Notarized documents

a. Lenders

Notarized documents of the loan calves include:

- Notarization request form

- Papers proving the ownership of money, savings book, statement of assets, confirmation of the bank at the time of making the loan contract

- Copy of identification documents: ID card, CCCD or passport, household registration

- Marriage certificate or certificate of single status

- Loan contract (if prepared)

In case a loan contract has not been prepared, the notary office can assist in consulting and drafting a loan contract.

b. Borrower

The borrower's dossier includes a number of documents as follows:

- In case the borrower is an individual: a copy of the identity document: notarized request form, ID card, CCCD or passport, household registration of the borrower.

- In case the borrower is an organization: notarization request form, business registration, operation, charter; meeting minutes in accordance with regulations on transaction performance; ID card (passport) of the representative of the organization, valid power of attorney if any.

Note: copies of personal papers can be photocopies, prints or typed copies with full and exact content as the originals, no authentication required; With documents requesting a copy, both parties need to bring the original for the notary to compare.

3. Notarization procedures

Step 1: Prepare documents according to the requirements in the above section.

Step 2: Conduct notarization.

Submit the documents to the office or notary office. The notary examines the papers, requests for addition or refuses to accept them if the conditions prescribed by law are not met.

Step 3: Notarize.

In case the two parties have drafted a loan contract, the notary shall check the terms of the contract, review the contents with legal risks, authenticate the documents, and compare the contents before signing the loan contract. notarized, signed each page of the contract, transaction.

If the two parties do not have a written agreement, the notary will conduct drafting at the request of the two parties before performing the above work contents.

Step 4: Pay the fee

After the contract is notarized, the two parties receive the notarized written agreement and pay the fee according to the price list listed by the notary office or notary office.

Tran Hang Notary Office is currently providing a package notarization service from consulting to drafting and notarizing loan contracts.

If you have any questions, please contact Tran Hang Notary Office directly for specific answers.

TRAN HANG NOTARY OFFICE

Address: No. 9, Van Phuc street, Lieu Giai ward, Ba Dinh district, Hanoi.

Tel: (024) 3747.8888

Hotline: 0933.668.166 or 096.296.0688

Email: info@luatdaiviet.vn

Website: www.luatdaiviet.vn