What are the regulations on auction service agreements for motor vehicle license plates in Vietnam? What is the auction deposit for motor vehicle license plates?
What are the regulations on auction service agreements for motor vehicle license plates in Vietnam?
Pursuant to Article 7 of Decree 39/2023/ND-CP stipulates:
Auction service agreements, auction service commissions, and auction cost paid to auction organizations
1. Auction service agreement for motor vehicle license plate
a) The Ministry of Public Security shall enter into auction service agreement for motor vehicle license plates with a property auction organization in order to auction vehicle license plates. Auction service agreement for motor vehicle license plates must be produced in writing and conform to civil laws and Article 33 of the Law on Property Auction of 2016;
b) Term of auction service agreements for motor vehicle license plates shall conform to Resolution No. 73/2022/QH15, except for cases where selected auction organizations terminate their operation voluntarily, fail to meet standards or conditions to conduct auctions of motor vehicle license plates, or have the auction service agreements terminated as per the law;
c) If auction service agreements are terminated before effective date of Resolution No. 73/2022/QH15, the Ministry of Public Security shall choose a different auction organization satisfying conditions under Clause 3 Article 2 of Resolution No. 73/2022/QH15 to proceed with the auction.
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Thus, the Ministry of Public Security shall enter into auction service agreement for motor vehicle license plates with a property auction organization in order to auction vehicle license plates. Auction service agreement for motor vehicle license plates must be produced in writing and conform to civil laws and Article 33 of the Law on Property Auction of 2016.
What are the regulations on auction service agreements for motor vehicle license plates in Vietnam? What is the auction deposit for motor vehicle license plates? (Image from the Internet)
What is the auction deposit for motor vehicle license plates in Vietnam?
Pursuant to Article 12 of Decree 39/2023/ND-CP stipulates:
Auction deposit
1. Deposits shall be sent to a separate checking account of auction organizations. Deposit can be made from participation registration date until 3 days before auction date. Auction participants that win the auction shall have their deposits transferred to collection accounts of the Ministry of Public Security in order to be submitted to the state budget as per the law.
2. Handling of deposits in specific cases shall conform to Article 39 of the Law on Property Auction.
Thus, deposit can be made from participation registration date until 3 days before auction date and deposits shall be sent to a separate checking account of auction organizations.
And the handling of deposits in specific cases shall conform to Article 39 of the Law on Property Auction.
Refer to Article 39 of the Law on Property Auction 2016 as follows:
Advance payment and handling thereof
1. A bidder shall make an advance payment, which shall be agreed upon by the property auction organization and property seller and must be between five percent and twenty percent of the reserve price of the auctioned property.
The advance payment shall be deposited into a separate payment account opened by the property auction organization at a commercial bank or foreign bank branch in Vietnam. If the advance payment is valued at under five million Vietnam dong, a bidder may make it directly to the property auction organization. The bidder and property auction organization may reach agreement on substitution of bank guarantee for advance payment.
2. The property auction organization may only collect an advance payment from a bidder within 3 working days before the date an auction opens, unless otherwise agreed upon by this organization and bidder but the collection must be earlier than the date the auction opens. The property auction organization may not use the bidder’s advance payment for any other purpose.
3. The bidder may refuse to participate in an auction and be refunded the advance payment in case of a change in the reserve price, quantity or quality of property with information thereon already displayed or disclosed, and may receive any interest on such advance payment.
4. In case the bidder does not win the auction the property auction organization shall refund the advance payment and pay an interest thereon (if any) within 3 working days after the date the auction ends or within another time limit agreed upon by the parties, except the case specified in Clause 6 of this Article.
5. If the bidder wins the auction, the advance payment and interest thereon (if any) shall be converted into a deposit to secure the performance of a transaction or a contract on purchase and sale of the auctioned property or an obligation to buy the auctioned property after obtaining approval from a competent agency. The deposit shall be handled in accordance with the civil law and other relevant laws.
Thus, the handling of deposits to participate in the car license plate auction is carried out according to the regulations mentioned above.
What are the forms, methods, procedures for auctioning car license plates in Vietnam?
Pursuant to Article 4 of Resolution 73/2022/QH15 stipulates:
Form, method, procedures for auctioning car license plates
1. Auction form is online auction.
2. The auction method is ascending price auction.
3. The Government shall elaborate the procedures for auctioning car license plates.
Thus, regulations on the form, method, procedures for auctioning car license plates:
- Auction form is online auction.
- The auction method is ascending price auction.
- The Government shall elaborate the procedures for auctioning car license plates. (guided by Chapter II of Decree 39/2023/ND-CP).
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