What are regulations on auction minutes in the Ministry of National Defense in Vietnam?

What are regulations on auction minutes in the Ministry of National Defense in Vietnam?

In Article 32 of Circular 126/2020/TT-BQP, there are regulations on auction minutes in the Ministry of National Defense as follows:

1. The auction ends when the auctioneer announces the winning bidder or when the auction is unsuccessful as prescribed in Clause 1, Article 40 of this Circular.

2. The progress of the auction must be recorded in the auction minutes. Auction minutes must be made at the auction and signed by the Chairman of the Council, the auctioneer, the person recording the minutes, the auction winner, and representatives of the auction participants.

3. The auction winner's refusal to sign the auction record is considered as not accepting to enter into an auctioned asset purchase and sale contract or not accepting the purchase of auctioned assets for assets where, according to law, the asset auction results must be approved by a competent authority.

4. The auction minutes are stamped by the agency or unit that has the auctioned assets.

In Article 33 of Circular 126/2020/TT-BQP, there are regulations on transferring auction documents within the Ministry of National Defense as follows:

1. Within 01 working day from the end of the auction, the Asset Auction Council must record the asset auction results in the asset auction registration book and notify in writing the person having the auctioned property; Report the results of the asset auction in writing to the person with authority to decide on the establishment of the Council.

2. Within 03 working days from the end of the auction, the Asset Auction Council transfers the asset auction results, auction minutes, and list of auction winners for commanders of agencies and units with auctioned assets to sign auctioned asset purchase and sale contracts.

What are regulations on auction minutes in the Ministry of National Defense in Vietnam? (Image from the Internet)

What are regulations on auction asset purchase contract in the Ministry of National Defense in Vietnam?

In Article 34 of Circular 126/2020/TT-BQP, there are regulations on auction asset purchase and sale contracts in the Ministry of National Defense as follows:

1. The auctioned asset purchase and sale contract is signed between the person having the auctioned asset and the auction winner. The auctioned asset purchase and sale contract is implemented in accordance with the provisions of civil law.

2. Contents of the contract for sale and purchase of assets processed for auction must contain the following contents:

a) Payment term from the date the asset sale and purchase contract for disposal is signed;

b) Payment method, delivery method, contract liquidation and other regulations (if any).

3. Asset sale documents handled:

a) Minutes of auction of disposed assets;

b) Contract for sale and purchase of assets to be processed;

c) Disposal asset receipt with confirmation from the financial agency;

d) Warehouse release note.

4. The auction winner is considered to have accepted to enter into the auctioned asset purchase and sale contract from the time the auctioneer announces the auction winner, unless the auction winner refuses to sign the auction minutes specified in Clause 3, Article 32 of this Circular or reject the winning auction results specified in Article 38 of this Circular. From this point on, the rights and obligations of the parties are implemented in accordance with the provisions of civil law and other relevant laws.

What are rights and obligations of people with auctioned assets in the Ministry of National Defense in Vietnam?

In Article 35 of Circular 126/2020/TT-BQP, there are regulations on rights and obligations of auctioned asset owners as follows:

1. The person whose property is auctioned has the following rights:

a) Supervise the process of organizing and implementing the auction;

b) Attend the auction;

c) Request the asset auction organization to stop holding the auction when there are grounds to believe that the Asset Auction Council has violated the provisions of Points b and c, Clause 2, Article 9 of the Asset Auction Law;

d) Request the Asset Auction Council to run the auction to stop the auction when there are grounds to believe that the Asset Auction Council has violated the provisions at Point c, Clause 1, Article 9 of the Asset Auction Law; Auction participants violate the provisions of Points b, c or d, Clause 5, Article 9 of the Law on Asset Auction;

d) Other rights as prescribed by law.

2. People with auctioned assets have the following obligations:

a) Responsible for the assets put up for auction;

b) Sign an auctioned asset purchase and sale contract or submit to a competent authority for approval of the asset auction results;

c) Deliver the assets and documents related to the auctioned assets to the buyer of the auctioned assets as agreed in the auctioned asset purchase and sale contract or according to the provisions of law;

d) Report to the competent authority on the selection of an asset auction organization, auction developments and asset auction results in the case of state asset auctions;

d) Other obligations as prescribed by law.

Best regards!