Vietnam law has specified regulations on auctioneers. Let’s find out this issue with Lawyer X through the following situation: “Dear Lawyer! I want to ask what are criteria for auctioneers in Vietnam? Who are exempt from auction training? Thanks for answering me!”
Legal grounds
- 2016 Vietnam Law on Property Auction
Regulations on criteria for auctioneers
An auctioneer must fully satisfy the following criteria:
– Being a Vietnamese citizen permanently residing in Vietnam, abiding by the Constitution and law, and possessing good ethical quality;
– Possessing a university or postgraduate degree in law, economics, accounting, finance or banking;
– Having graduated from an auction training course prescribed in Article 11 of 2016 Vietnam Law on Property Auction, except where h+she is exempted from such a course under Article 12 of 2016 Vietnam Law on Property Auction;
– Having passed the examination of auction practice internship results.
Regulations on auction training
– A person who fully satisfies the criteria prescribed in Clauses 1 and 2, Article 10 of 2016 Vietnam Law on Property Auction and has worked in the trained field for at least 3 years may join an auction training course.
– The duration of an auction training course is 6 months. A person who completes such a course shall be granted an auction training certificate by the auction training institution.
Persons exempt from auction training
– Lawyers, public notaries, bailiff, property management officers or arbiters who have practiced their profession for at least 2 years.
– Judges, procurators or executors.
Regulations on auction practice internship
– Persons possessing an auction training certificate and persons exempt from auction training may be admitted as interns in property auction organizations.
– The duration of auction practice internship is 6 months and shall be counted from the date a property auction organization notifies the list of its auction practice interns to the provincial-level Justice Department of the locality where it is located.
– A property auction organization shall assign auctioneers to instruct auction practice interns. Instructing auctioneers shall guide, supervise, and take responsibility for, jobs performed by interns.
Auction practice interns may receive practice skills instructions and perform jobs related to property auction as assigned by their instructing auctioneers and take responsibility before their instructing auctioneers for such jobs. Auction practice interns may not conduct an auction.
– Persons who have completed their internship duration prescribed in Clause 2 of this Article may take the examination of auction practice internship results.
The examination of auction practice internship results covers auction practice skills, the law on property auction and relevant laws, and professional code of ethics of auctioneers.
– The examination of auction practice internship results shall be held by the Auction Practice Internship Result Examination Council formed by the Ministry of Justice. The Council is composed of a representative of the Ministry of Justice as its chairperson, and representatives of related agencies and organizations and a number of auctioneers as its members.
Grant of auction practice certificates
– A person who fully satisfies the criteria prescribed in Article 10 of 2016 Vietnam Law on Property Auction shall send a dossier of application for an auction practice certificate to the Ministry of Justice and pay a charge prescribed by law. Such a dossier must comprise:
+ An application for an auction practice certificate;
+ A certified copy or a copy enclosed with the original of the applicant’s university or postgraduate degree in law, economics, accounting, finance or banking;
+ A certified copy or a copy enclosed with the original of the applicant’s auction training certificate;
+ A written certification that the applicant has passed the auction practice internship result examination;
+ A judicial record card;
+ A color photo sized 3 cm x 4 cm.
– Within 15 days after receiving a complete and valid dossier, the Minister of Justice shall decide to grant an auction practice certificate. In case of refusal to grant such certificate, h+she shall state the reason in writing. Persons whose applications for auction practice certificates are rejected may file complaints or initiate lawsuits in accordance with law.
– An auction practice certificate holder shall be granted an auctioneer card by the provincial-level Justice Department at the request of the property auction organization where h+she practices. His/her auctioneer card shall be revoked when h+she has his/her auction practice certificate revoked under Article 16 of 2016 Vietnam Law on Property Auction.
The Government shall prescribe in detail the grant and revocation of auctioneer cards.
Persons ineligible for grant of auction practice certificates
– Those who fail to fully satisfy the criteria prescribed in Article 10 of 2016 Vietnam Law on Property Auction.
– Career officers or soldiers, national defense workers or public employees in agencies or units of the People’s Army; operational officers or non-commissioned officers, professional or technical officers or non-commissioned officers in agencies or units of the People’s Public Security; cadres, civil servants or public employees, except civil servants or public employees to be granted auction practice certificates to work for property auction service centers.
– Those who have lost civil act capacity or have civil act capacity restricted or have problems in cognition or behavior control.
– Those who are examined for penal liability; have been convicted under legally effective judgments; had been convicted but have not yet had their criminal records remitted; or have been convicted for the crime of swindling for appropriating property or corruption, even when their criminal records have been remitted.
– Those who are subject to the administrative handling measure of being consigned to a compulsory detoxification establishment or compulsory education establishment in accordance with the law on handling of administrative violations.
Revocation of auction practice certificates
– The holder of an auction practice certificate will have such certificate revoked in the following cases:
+ One of the cases specified in Article 15 of 2016 Vietnam Law on Property Auction;
+ H+she has failed to practice auction under Clause 1, Article 18 of 2016 Vietnam Law on Property Auction for 2 years after being granted the certificate, except where his/her failure is caused by a force majeure event;
+ H+she is administratively sanctioned in accordance with the law on handling of administrative violations for the act prescribed at Point b or c, Clause 1, Article 9 of 2016 Vietnam Law on Property Auction;
+ H+she is willing to quit practicing;
+ H+she is declared missing or dead.
– The revocation of an auction practice certificate shall be carried out according to the following order and procedures:
+ Within 20 days after receiving information that the auction practice certificate holder falls into one of the cases subject to certificate revocation specified in Clause 1 of this Article, the provincial-level Justice Department of the locality where the organization in which h+she practices is located or where h+she permanently resides in case h+she has not yet commenced practice shall conduct the verification of information;
+ Within 7 working days after obtaining a ground to believe that the auction practice certificate holder falls into one of the cases subject to certificate revocation, the provincial-level Justice Department shall request in writing the Ministry of Justice to revoke his/her auction practice certificate and relevant papers;
+ Within 15 days after receiving a written request of the provincial-level Justice Department, the Minister of Justice shall issue a decision to revoke the auction practice certificate. Such decision shall be sent to the certificate holder, organization where h+she practices and provincial-level Justice Department requesting the revocation. In case there are insufficient grounds for certificate revocation, the Ministry of Justice shall notify such in writing to related agencies, organizations and individuals.
Re-grant of auction practice certificates
– A person whose auction practice certificate is revoked under Point a, Clause 1, Article 16 of 2016 Vietnam Law on Property Auction may be considered for re-grant of such certificate when fully satisfying the criteria prescribed in Article 10 of 2016 Vietnam Law on Property Auction and the reason for certificate revocation no longer exists.
– A person whose auction practice certificate is revoked under Point b, Clause 1, Article 16 of 2016 Vietnam Law on Property Auction may be considered for re-grant of such certificate one year after his/her certificate is revoked.
– A person whose auction practice certificate is revoked under Point d, Clause 1, Article 16 of 2016 Vietnam Law on Property Auction may be considered for re-grant of such certificate when h+she so requests.
– If an auction practice certificate is lost or irreparably damaged, its holder may be considered for re-grant of such certificate.
– A person whose auction practice certificate is revoked may not be re-granted such certificate in the following cases:
+ His/her auction practice certificate is revoked under Point c, Clause 1, Article 16 of 2016 Vietnam Law on Property Auction;
+ H+she is convicted of the crime of swindling for appropriating property or corruption, even when his/her criminal records have been remitted.
– A person whose auction practice certificate is revoked under Clause 1 of this Article shall send a dossier of request for re-grant of such certificate to the Ministry of Justice and pay a charge prescribed by law. Such a dossier must comprise:
+ A written request for re-grant of the auction practice certificate;
+ Documents proving that the reason for revocation of the auction practice certificate no longer exists;
+ A color photo sized 3 cm x 4 cm.
– A person whose auction practice certificate is revoked under Clause 2 or 3 of this Article or falls into the case specified in Clause 4 of this Article shall send a dossier of request for re- grant of such certificate to the Ministry of Justice and pay a charge in accordance with law. Such a dossier must comprise the documents specified at Points a and c, Clause 6 of this Article.
– Within 10 working days after receiving a complete and valid dossier, the Minister of Justice shall decide to re-grant an auction practice certificate. In case of refusal to re-grant such certificate, h+she shall notify in writing the reason. A person whose request for re-grant of an auction practice certificate is rejected may file a complaint or initiate a lawsuit in accordance with law.
Forms of practice by auctioneers
– Auctioneers may practice in:
+ Property auction service centers;
+ Property auction businesses;
+ The wholly state-owned organization established by the Government to settle non- performing loans of credit institutions.
– The practice by auctioneers specified at Point a, Clause 1 of this Article must comply with 2016 Vietnam Law on Property Auction, the law on cadres and civil servants and the law on public employees.
– The practice by auctioneers specified at Point b, Clause 1 of this Article may be carried out through establishing, participating in the establishment of, or working under labor contracts in, property auction businesses. An auctioneer may establish, or participate in the establishment of, or sign a labor contract with, only one property auction business in accordance with 2016 Vietnam Law on Property Auction and other relevant regulations.
– The practice by auctioneers specified at Point c, Clause 1 of this Article must comply with 2016 Vietnam Law on Property Auction and the labor law.
Rights and obligations of auctioneers
– Auctioneers have the following rights:
+ To practice throughout the territory of Vietnam;
+ To directly conduct auctions;
+ To deprive bidders who commit the acts prescribed in Clause 5, Article 9 of 2016 Vietnam Law on Property Auction of their right to participate in an auction;
+ To stop an auction when detecting an act of collusion, suppressing prices or disturbing or causing disorder at the auction, and to notify such to the property auction organization;
+ To conduct auctions under contracts between the property auction council and property auction organizations where they practice in case such auctions are held by the council or by the wholly state-owned organization established by the Government to settle non-performing loans of credit institutions;
+ To instruct and supervise the internship of auction practice interns; + Other rights provided by law.
– Auctioneers have the following obligations:
+ To comply with the property auction principles, order and procedures prescribed in 2016 Vietnam Law on Property Auction;
+ To comply with the professional code of ethics of auctioneers; + To take responsibility before law and property auction organizations for auctions they conduct;
+ To take responsibility for jobs performed by auction practice interns whom they instruct under Clause 3, Article 13 of 2016 Vietnam Law on Property Auction;
+ To participate in professional liability insurance prescribed in Article 20 of 2016 Vietnam Law on Property Auction; + Other obligations prescribed by law.
Insurance for professional liability of auctioneers
– Auctioneers may participate in professional liability insurance through property auction organizations or the wholly state-owned organization established by the Government to settle non-performing loans of credit institutions.
– Property auction organizations or the wholly state-owned organization established by the Government to settle non-performing loans of credit institutions shall purchase insurance for professional liability of their auctioneers.
Socio-professional organization of auctioneers
– The socio-professional organization of auctioneers is a self-managed organization established to protect lawful rights and interests of auctioneers; provide auctioneers with refresher courses in legal knowledge and practice skills; supervise the observance of the professional code of ethics by auctioneers; and perform other tasks prescribed by the law on associations and its charter.
– The establishment, organizational structure, functions, tasks and powers of the socio-professional organization of auctioneers must comply with the law on associations and 2016 Vietnam Law on Property Auction.
Please see more:
- Instructions for exclusive registration of company logos in Vietnam
- Service of changing the legal representative of Vietnamese enterprises
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Frequently asked questions
Yes! An auctioneer must be a Vietnamese citizen permanently residing in Vietnam, abiding by the Constitution and law, and possessing good ethical quality.
The duration of an auction training course is 6 months. A person who completes such a course shall be granted an auction training certificate by the auction training institution.
Persons possessing an auction training certificate and persons exempt from auction training may be admitted as interns in property auction organizations.
Conclusion: So the above is Regulations on auctioneers in Vietnam. Hopefully with this article can help you in life, please always follow and read our good articles on the website: lsxlawfirm.com
