Who are exempt from auction training in Vietnam? What is the duration of an auction training course in Vietnam?

Who are exempt from auction training in Vietnam?

Pursuant to Article 12 of the Law on Property Auction in 2016 stipulating persons exempt from auction training:

- Lawyers, public notaries, bailiff, property management officers or arbiters who have practiced their profession for at least 2 years.

- Judges, procurators or executors.

Who are exempt from auction training in Vietnam? What is the duration of an auction training course in Vietnam? - image from internet

What is the duration of an auction training course in Vietnam?

Pursuant to Article 11 of the Law on Property Auction in 2016 stipulating auction training:

Auction training

1. A person who fully satisfies the criteria prescribed in Clauses 1 and 2, Article 10 of this Law and has worked in the trained field for at least 3 years may join an auction training course.

2. The duration of an auction training course is 6 months. A person who completes such a course shall be granted an auction training certificate by the auction training institution.

As regulated above, the duration of an auction training course is 6 months.

What are criteria for auctioneers in Vietnam?

Pursuant to Article 10 of the Law on Property Auction in 2016 stipulating criteria for auctioneers in Vietnam:

Criteria for auctioneers

An auctioneer must fully satisfy the following criteria:

1. Being a Vietnamese citizen permanently residing in Vietnam, abiding by the Constitution and law, and possessing good ethical quality;

2. Possessing a university or postgraduate degree in law, economics, accounting, finance or banking;

3. Having graduated from an auction training course prescribed in Article 11 of this Law, except where he/she is exempted from such a course under Article 12 of this Law;

4. Having passed the examination of auction practice internship results.

As regulated above, an auctioneer must fully satisfy the following criteria:

(1) Being a Vietnamese citizen permanently residing in Vietnam;

(2) Abiding by the Constitution and law, and possessing good ethical quality;

(3) Possessing a university or postgraduate degree in law, economics, accounting, finance or banking;

(4) Having graduated from an auction training course;

(5) Having passed the examination of auction practice internship results.

What is the duration of auction practice internship in Vietnam?

Pursuant to Article 13 of the Law on Property Auction in 2016 stipulating auction practice internship in Vietnam:

Auction practice internship

1. Persons possessing an auction training certificate and persons exempt from auction training may be admitted as interns in property auction organizations.

2. The duration of auction practice internship is 6 months and shall be counted from the date a property auction organization notifies the list of its auction practice interns to the provincial-level Justice Department of the locality where it is located.

3. A property auction organization shall assign auctioneers to instruct auction practice interns. Instructing auctioneers shall guide, supervise, and take responsibility for, jobs performed by interns.

Auction practice interns may receive practice skills instructions and perform jobs related to property auction as assigned by their instructing auctioneers and take responsibility before their instructing auctioneers for such jobs. Auction practice interns may not conduct an auction.

4. Persons who have completed their internship duration prescribed in Clause 2 of this Article may take the examination of auction practice internship results.

The examination of auction practice internship results covers auction practice skills, the law on property auction and relevant laws, and professional code of ethics of auctioneers.

5. The examination of auction practice internship results shall be held by the Auction Practice Internship Result Examination Council formed by the Ministry of Justice. The Council is composed of a representative of the Ministry of Justice as its chairperson, and representatives of related agencies and organizations and a number of auctioneers as its members.

As regulated above, the duration of auction practice internship is 6 months and shall be counted from the date a property auction organization notifies the list of its auction practice interns to the provincial-level Justice Department of the locality where it is located.

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