Vietnam: In 2024, what website is the 2nd auction session of motor vehicle license plates held on? What is the guidance on accessing the website for auction?
- In 2024, what website is the 2nd auction session of motor vehicle license plates in Vietnam held on?
- What are the steps of each lot auction of motor vehicle license plate in Vietnam?
- What is the auction service commission paid to the motor vehicle auction organization for each successfully auctioned license plate in Vietnam?
In 2024, what website is the 2nd auction session of motor vehicle license plates in Vietnam held on?
Pursuant to Decision 4653/QD-BCA-CSGT dated November 10, 2023 of the Ministry of Public Security on approving the plan for the 2nd auction session of motor vehicle license plates (Here) as follows:
The selected property auction organization is Vietnam Partnership Auction Company, the form of auction of motor vehicle license plates is online auction.
Accordingly, to access the website for auction of motor vehicle license plates, auctioneers can access the online auction information page of Vietnam Partnership Auction Company at the following address:
https://dgbs.vpa.com.vn/
What are the steps of each lot auction of motor vehicle license plate in Vietnam?
Under Article 11 of Decree 39/2023/ND-CP as follows:
Steps of each lot auction of motor vehicle license plate
1. Apply for participation in auction
a) Application for participation in auction shall be done entirely on online auction website of auction organization;
b) Auction participants shall be issued with login accounts and provided with instructions on how to use the account, how to bid, and other details on online auction website in order to bid;
c) Auction participants are allowed to choose motor vehicle license plates among the list of motor vehicle license plates to be auctioned of all provinces and central-affiliated cities;
d) Auction participants shall send payments for application and deposits for motor vehicle license plates that they have selected to account of auction organizations and shall be issued with code to participate in motor vehicle license plate auction;
dd) Auction organizations are responsible for receiving application for participation in auctions and deposits throughout the period from the date on which the auction is publicly listed to 3 day
2. Auction participants shall access online auction website with their accounts and comply with auction procedures under auction rules.
3. At the end of online lot auction, online auction website shall announce auction winners, declare lot auction results, disclose auction records to enable auction winners to verify, and send to email address of auction participants registered to auction organizations.
4. Auctioneers are responsible for organizing online auctions, verifying auction records using digital signature and sending auction records to auction winners.
5. The Ministry of Public Security shall assign officials to monitor, supervise the auction process: quantity of auctioneers, quantity of auction participants, auction results, and other relevant issues.
6. Auction procedures not mentioned under this Decree shall conform to the Law on Property Auction.
Thus, the steps of each lot auction of motor vehicle license plate in Vietnam are specified above.
What is the auction service commission paid to the motor vehicle auction organization for each successfully auctioned license plate in Vietnam?
Under the provisions in Point a, Clause 1, Article 7 of Decree 39/2023/ND-CP, the Ministry of Public Security shall enter into auction service agreement for motor vehicle license plates with a property auction organization to auction vehicle license plates.
Accordingly, the auction organization will receive a corresponding auction service commission for each successfully auctioned license plate.
Specifically, in Clause 2, Article 7, Decree 39/2023/ND-CP:
Auction service agreements, auction service commissions, and auction cost paid to auction organizations
...
2. Auction service commissions and auction cost paid to auction organizations
a) For each license plate to be auctioned, auction service commissions paid to auction organizations shall equal 8% of starting bid and do not include VAT and auction costs;
b) Auction costs paid to auction organizations shall equal 10.000 VND for each license plate put up for auction.
Thus, for each license plate to be auctioned, auction service commissions paid to auction organizations shall equal 8% of starting bid and do not include VAT and auction cost.
Auction service commissions do not include VAT and auction costs (equal to 10.000 VND).
In addition, based on Article 3 of Resolution 73/2022/QH15, the starting bid of a motor vehicle license plate put up for auction is VND 40,000,000. The bid increment is VND 5,000,000
Thus, when conducting an auction of motor vehicle license plate, auctioneers must offer a minimum price of VND 40,000,000 for a license plate, those who bid after the first auctioneer for the same license plate will have to pay a price 5,000,000 VND higher than the auctioneer who offered the previous price.
LawNet