What are the procedures for establishment of Price Assessment Council in civil proceedings in Vietnam?
- What are the procedures for establishment of Price Assessment Council in civil proceedings in Vietnam?
- Do involved parties have the right to reach agreement on the selection of property appraisal organizations in civil proceedings in Vietnam?
- What to do when only one of the involved parties agrees to invite the valuation organization, another party or remaining parties do not agree?
What are the procedures for establishment of Price Assessment Council in civil proceedings in Vietnam?
Pursuant to Clause 4, Article 104 of the 2015 Civil Procedure Code of Vietnam on the procedures for establishment of Price Assessment Council as follows:
- Price Assessment Councils shall be established by Courts and shall consist of the representatives of financial agencies as the Chairpersons and representatives of relevant specialized agencies as members. Persons who have conducted procedures in such cases and persons specified in Article 52 of the 2015 Civil Procedure Code of Vietnam must not be members of Price Assessment Councils.
- Price Assessment Councils shall conduct assessment only when no members of the Councils are absent.
- When it is necessary, representatives of People’s Committees of communes where the to be-assessed properties are located shall be invited to witness the assessment.
- Involved parties shall be priorly notified of time and place of price assessment, shall be entitled to attend and express opinions about the price assessment. Price Assessment Councils shall be entitled to make decisions on prices of the properties which are assessed;
- Financial agencies and specialized agencies which are relevant shall be responsible for assigning persons to be members of Price Assessment Councils and enable them to fulfill tasks.
- Persons assigned to be members of Price Assessment Councils shall participate fully the assessment. If financial agencies and/or specialized agencies fail to assign persons to be members of Price Assessment Councils, Courts shall request competent immediate management agencies to direct financial agencies and specialized agencies to fulfill their requests.
- If persons who are assigned to be members of Prices Assessment Councils are absent without plausible reasons, Courts shall request heads of agencies having assigned such persons shall consider responsibility and appoint replacements and notify the Courts so that the price assessment could be conducted;
- Price assessment must be recorded into minutes where opinions of each present members and involved parties shall be specified. Decisions of Price Assessment Councils must be approved by more than half of their members. Members of Price Assessment Councils, involved parties and witnesses shall append signatures or fingerprints to the minutes.
What are the procedures for establishment of Price Assessment Council in civil proceedings in Vietnam?
Do involved parties have the right to reach agreement on the selection of property appraisal organizations in civil proceedings in Vietnam?
Pursuant to Clause 2, Article 104 of the 2015 Civil Procedure Code of Vietnam as follows:
Property evaluation and price appraisal
…
2. The parties may reach agreement on the selection of property appraisal organizations to conduct the evaluation of properties and provide the price evaluation results for the Courts.
Properly price appraisal shall be carried out under the law on property price appraisal.
Thus, the involved parties may reach agreement on the selection of property appraisal organizations to conduct the evaluation of properties and provide the price evaluation results for the Courts.
What to do when only one of the involved parties agrees to invite the valuation organization, another party or remaining parties do not agree?
Pursuant to Point b, Clause 3, Article 104 of the 2015 Civil Procedure Code of Vietnam:
Property evaluation and price appraisal
…
3. Courts shall make decisions on property price assessment and set up Price Assessment Councils in the following cases:
…
b) Involved parties failed to reach agreement about selection of price assessment organizations or offered prices were different or agreement about prices has not been reached;
At the same time, based on subsection 4, Section III of Official Dispatch No. 206/TANDTC-PC in 2022, the instructions are as follows:
According to the provisions of the 2015 Civil Procedure Code of Vietnam, the involved parties have the right to agree to invite an independent valuation organization, after the valuation will be based on the price stated in the valuation certificate of the valuation organization to handle. However, in case only one of the involved parties agrees to invite a valuation organization, one or the other parties do not agree, how should this case be handled?
Clause 2, Article 104 of the 2015 Civil Procedure Code of Vietnam provides:
"2. The parties may reach agreement on the selection of property appraisal organizations to conduct the evaluation of properties and provide the price evaluation results for the Courts.
Properly price appraisal shall be carried out under the law on property price appraisal”.
Thus, according to the above provisions, the involved parties in the case have the right to agree on the selection of a property appraisal organization to conduct the property appraisal and provide the appraisal results to the Court for settlement. In case of disputes, the appraisal of property prices shall comply with the provisions of the law on property appraisal. However, if only one of the parties agrees to invite a property appraisal organization to conduct the property appraisal and the remaining parties disagree, the parties cannot agree on the selection of a property appraisal organization to carry out the property appraisal. Therefore, the Court must issue a decision on asset valuation and establish a Price Assessment Council according to the provisions of Point b, Clause 3, Article 104 of the 2015 Civil Procedure Code of Vietnam [2] to serve as a basis for settling the case.
Thus, the case where only one of the parties agrees to invite a property appraisal organization to carry out the property appraisal and the remaining parties disagree, it is case where the parties cannot agree on the selection of a property appraisal organization to carry out the property appraisal, the Court must issue a decision to determine the asset price and set up a Price Assessment Council to serve as a basis for the settlement of the case.
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