What is the minimum deposit required for purchasing public assets through price listing in Vietnam?
What is the minimum deposit required for purchasing public assets through price listing in Vietnam?
Based on Article 3 of Circular 144/2017/TT-BTC regarding general regulations on the sale of public assets in the form of price listing:
Article 3. General Regulations on the Sale of Public Assets in the Form of Price Listing
- The sale of public assets in the form of price listing shall be conducted according to the provisions of Article 26 of Decree No. 151/2017/ND-CP, clauses 2 and 3 of this Article, and Articles 4 and 5 of this Circular.
- The registrant wishing to purchase public assets in the form of price listing is responsible for placing a deposit before registering to purchase the assets. The head of the agency tasked with organizing the sale of public assets decides on the specific amount of deposit, which must be at least 10% and at most 20% of the listed asset sales price.
The deposit is considered as a down payment to purchase the asset in case the registrant is eligible to buy the asset. The agency tasked with organizing the sale of public assets is responsible for refunding the deposit to the registrant if they do not acquire the asset within 3 working days from the date the buyer of the asset is determined, except in cases where the registrant is not entitled to the deposit refund, including:
a) The registrant refuses to purchase the asset after being determined as the eligible buyer;
b) The registrant who is eligible to purchase the asset does not sign the asset sales contract within the stipulated period;
c) The registrant who has the right to purchase the asset has signed the sales contract but does not pay for the asset or has paid for the asset but does not receive the asset;
d) Persons falling into the category mentioned in clause 3, Article 26 of Decree No. 151/2017/ND-CP but still register to purchase the asset.
- The agency tasked with organizing the sale of public assets is responsible for publicly listing the regulations on persons not allowed to participate in the purchase of public assets stipulated in clause 3, Article 26 of Decree No. 151/2017/ND-CP. If individuals falling under the category specified in clause 3, Article 26 of Decree No. 151/2017/ND-CP still register to purchase, they are not entitled to purchase the asset.
According to the above regulation, the registrant wishing to purchase public assets in the form of price listing needs to place a deposit of at least 10% of the listed asset sales price to buy public assets in this form.
What is the minimum deposit required for purchasing public assets through price listing in Vietnam? (Image from the Internet)
What are the contents of price listing and asset information on the Electronic Public Asset Trading System in Vietnam?
Based on Article 4 of Circular 144/2017/TT-BTC, the contents of price listing and asset information on the Electronic Public Asset Trading System include:
[1] Name, address, and phone number of the agency tasked with organizing the sale of assets
[2] Name, category, quantity, and quality of the asset along with at least 2 images of the asset; asset sale price
[3] Amount of deposit and form of deposit payment
[4] Location and time period for asset inspection
[5] Regulations on individuals not allowed to participate in asset purchase
[6] Registration deadline and deposit payment period
[7] Time to select the eligible asset purchaser
[8] Other necessary related information regarding the sell-off by the agency tasked with organizing the sale
Note:
- The agency tasked with organizing the sale of public assets is responsible for entering information at [1] [2] [3] [4] [5] [8] into the Electronic Public Asset Trading System for posting.
- The agency tasked with organizing the sale of public assets is accountable for the completeness and accuracy of the asset information entered into the Electronic Public Asset Trading System.
- The Electronic Public Asset Trading System determines the information [6] [7] when the price listing content and asset information are posted on the System.
What actions are prohibited in the management and use of public property in Vietnam?
Based on Article 10 of the Law on Management and Use of Public Assets 2017, prohibited acts in the management and use of public assets include:
- Abusing authority, taking possession, retaining, or utilizing public assets illegally.
- Investing in construction, procurement, allocation, leasing, or utilizing public assets for improper purposes, policies, or beyond standards and norms.
- Allocating public assets to agencies, organizations, units, or individuals beyond standards, norms, or without demand.
- Misusing vehicles and other publicly donated assets for improper purposes, policies, or beyond standards and norms.
- Using or not using assigned public assets wastefully; using public assets for business, leasing, joint venture, or alliance not aligned with asset purposes, affecting the fulfillment of state-assigned functions and tasks; illicit business dealings of public assets.
- Handling public assets contrary to legal regulations.
- Destroying or intentionally damaging public assets.
- Misappropriating, retaining, or illegally using public assets.
- Failing to fulfill or adequately fulfill responsibilities and duties in managing, using public assets as per legal regulations.
- Other prohibited acts in managing and using public assets as prescribed by relevant law.
