Secured assets under Vietnam’s Law
Over the past years, the law on secured transactions and secured transaction registration has gradually become complete, meeting the requirements of the real socio-economic life in Vietnam and the process of global economic integration. There is no doubt about the important role of secured transactions in credit growth and economic development. One key important element of secured transactions is collateral (secured assets). Both parties (the securing party and secured creditor) should pay close attention to determination of assets used as collateral when entering into a contract. However, the current legal framework applicable to collateral remains controversial.