Does an application for an auction practice certificate in Vietnam include a copy of university or postgraduate degree?

Main Content

• Vietnam: Which university or postgraduate degree must an auctioneer possess?
• Does an application for an auction practice certificate in Vietnam include a copy of university or postgraduate degree?
• Vietnam: Where does an auctioneer with an auction practice certificate practice in?

Vietnam: Which university or postgraduate degree must an auctioneer possess?

Pursuant to Article 10 of the Law on Property Auction 2016, regulations on criteria for auctioneers are as follows:

Criteria for auctioneers

An auctioneer must fully satisfy the following criteria:

1. Being a Vietnamese citizen permanently residing in Vietnam, abiding by the Constitution and law, and possessing good ethical quality;

2. Possessing a university or postgraduate degree in law, economics, accounting, finance or banking;

3. Having graduated from an auction training course prescribed in Article 11 of this Law, except where he/she is exempted from such a course under Article 12 of this Law;

4. Having passed the examination of auction practice internship results.

Thus, auctioneers must possess a university or postgraduate degree in law, economics, accounting, finance or banking.

Does an application for an auction practice certificate in Vietnam include a copy of university or postgraduate degree? (Image from the Internet)

Does an application for an auction practice certificate in Vietnam include a copy of university or postgraduate degree?

Pursuant to Article 14 of the Law on Property Auction 2016:

Grant of auction practice certificates

1. A person who fully satisfies the criteria prescribed in Article 10 of this Law 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:

a/ An application for an auction practice certificate;

b/ 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;

c/ A certified copy or a copy enclosed with the original of the applicant’s auction training certificate;

d/ A written certification that the applicant has passed the auction practice internship result examination;

dd/ A judicial record card;

e/ A color photo sized 3 cm x 4 cm.

2. 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, he/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.

3. 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 he/she practices. His/her auctioneer card shall be revoked when he/she has his/her auction practice certificate revoked under Article 16 of this Law.

The Government shall prescribe in detail the grant and revocation of auctioneer cards.

Therefore, an application for an auction practice certificate includes:

- 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.

Thus, 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 must be included in the application for an auction practice certificate.

Vietnam: Where does an auctioneer with an auction practice certificate practice in?

Pursuant to Article 18 of the Law on Property Auction 2016 on forms of practice by auctioneers:

Forms of practice by auctioneers

1. Auctioneers may practice in:

a/ Property auction service centers;

b/ Property auction businesses;

c/ The wholly state-owned organization established by the Government to settle non- performing loans of credit institutions.

2. The practice by auctioneers specified at Point a, Clause 1 of this Article must comply with this Law, the law on cadres and civil servants and the law on public employees.

3. 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 this Law and other relevant regulations.

4. The practice by auctioneers specified at Point c, Clause 1 of this Article must comply with this Law and the labor law.

Therefore, an auctioneer with an auction practice certificate 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.