What is the starting price of a license plate in an auction in Vietnam?
What is the starting price of a license plate in an auction in Vietnam?
Based on Article 6 of Decree 156/2024/ND-CP, the starting price of a license plate in an auction in Vietnam is specified as follows:
[1] The starting price of a car license plate put up for auction is 40 million VND, increasing every three years from January 1, 2025, with each increase being 5 million VND.
[2] The starting price of a motorcycle or scooter license plate put up for auction is 5 million VND, increasing every three years from January 1, 2025, with each increase being 1 million VND.
[3] The starting price of a license plate with the format AAAAA (A>4), ABCDE (A<B<C<D<E, A>4) put up for re-auction after the second time is 500 million VND for car license plates and 50 million VND for motorcycle or scooter license plates.
What is the starting price of a license plate in an auction in Vietnam? (Image from the Internet)
In which cases is the right to participate in the vehicle license plate auction in Vietnam revoked?
Based on Article 15 of Decree 156/2024/ND-CP on the suspension of an auction, disqualification from participating in an auction, and handling of arising situations:
Article 15. Cases of suspension of an auction, disqualification from participation, and handling of arising situations
- The asset auction organization and auctioneer must suspend the auction in the following cases:
a) The Ministry of Public Security requires the asset auction organization to suspend the auction when there is a basis to believe that the auction organization or auctioneer has committed acts violating the ethics of the auction profession and other regulations in the Auction Rules;
b) Force majeure events.
- The Ministry of Public Security decides to conduct a re-auction once the auction has met the conditions specified in Clause 2, Article 9 of this Decree and other relevant legal provisions.
- Cases of disqualification from participating in the auction:
a) Providing false information and documents; using forged papers to register for the auction, participate in the auction;
b) Colluding with auctioneers, asset auction organizations, asset owners, other auction participants, individuals, or organizations to manipulate prices, falsify auction results;
[...]
Thus, the cases of disqualification from participating in vehicle license plate auctions include:
- Providing false information and documents; using forged papers to register for the auction, participate in the auction
- Colluding with auctioneers, asset auction organizations, asset owners, other auction participants, individuals, or organizations to manipulate prices, falsify auction results
- Obstructing auction activities, using software to affect the auction process or results; disrupting the auction
- Threatening, coercing auctioneers, or other auction participants to falsify auction results
- Other prohibited acts according to legal regulations
Where is the list of vehicle license plates put up for auction publicly disclosed in Vietnam?
Based on Article 13 of Decree 156/2024/ND-CP on the listing and public announcement of asset auctions:
Article 13. Listing and public announcement of asset auctions
- The Ministry of Public Security transfers the list of vehicle license plates put up for auction to the asset auction organization and simultaneously publicly announces the plan to organize vehicle license plate auctions on the Ministry of Public Security's electronic portal, the Traffic Police Department's website, with links to the online auction webpage of the asset auction organization.
- The asset auction organization publicly announces the auction plan, the list of vehicle license plates put up for auction on the National Asset Auction Portal or the organization's online auction webpage and lists it at their headquarters. The Auction Rules are listed and publicly announced on the online auction webpage and at the headquarters of the asset auction organization.
- The public announcement time, listing of Auction Rules, and the list of vehicle license plates put up for auction are at least 30 days before the auction date.
- The asset auction organization publicly discloses the number of registered bidders for each license plate being listed.
According to the above regulations, information on the list of vehicle license plates put up for auction is publicly disclosed on the National Asset Auction Portal or the online auction webpage of the asset auction organization and listed at their headquarters.
The public announcement time and listing of the license plate auction list are at least 30 days before the auction date.
