New measures to secure the performance of civil obligations in Vietnam’s civil code 2015

Abstract

Measures to secure the performance of civil obligations have been used relatively long in practice but mainly applied in the fields of credit and banking. At present, there exist two parallel regulation systems: the general regulation system of secured transactions applied to all civil transactions and the system of security measures by credit institutions. The former serves as framework on which the latter was developed to be in line of this industry’s nature. This paper presents two new security measures which are supplemented in the list of security measures stipulated in the civil code of Vietnam 2015 with drastic changes in the establishment and effect of the established transactions.