Working session on drafting two sets of professional documents related to the debt settlement activities

According to international experiences, out-of-court workouts (OCW) mechanism and codes of conduct for debt collection are good practices in settlement of the non-performing loan, creating a civilized settlement process between credit institutions, debt collectors and businesses (debtors) to handle debts, building customer trust in credit activities.

Continuing the series of activities on OCW and non-performing loan settlement, on February 26, 2025, the Vietnam Banking Association (VNBA), represented by Mr. Nguyen Quoc Hung – Vice President and General Secretary of the Association, and the International Finance Corporation (IFC) under the World Bank Group, held a working session to continue discussing the work plan to draft two sets of professional documents related to the above debt settlement activities, expectedly “Guidelines on Out-of-court Workouts” and “Code of Conduct for Debt Collection“.

At the session, Mr. Nguyen Hung Quang (Managing Partner of NHQuang&Associates, President of Vietnam International Commercial Mediation Center (VICMC)), acting as the National Consultant of IFC, discussed the major contents of the two sets of documents as well as the next steps related to the drafting and promulgation of the two documents in the coming time.

Dispute resolution in court, arbitration, and especially negotiation and mediation have been one of the strengths of NHQuang&Associates for many years. In addition to experiences in practical dispute resolution, Mr. Nguyen Hung Quang and the associates have also conducted many studies on the Court system, litigation procedures for commercial dispute resolution in court, systematic investor response mechanisms, commercial mediation, commercial arbitration, and have supported for national student competitions on commercial mediation and arbitration.