Can proceeds from the auction of retained goods at seaports be used to pay debts to the retainer in Vietnam?

Can proceeds from the auction of retained goods at seaports be used to pay debts to the retainer in Vietnam?

Article 12 of Decree 169/2016/ND-CP stipulates spending of proceeds from auction of retained goods, as follows:

1. The whole proceeds from the sale of retained goods shall be spent according to the following order of priority:

a) Taxes, charges and fees arising during the retention and sale of goods;

b) Debts including the price of transport service and other expenses specified in transport invoices; if such amount has not been paid in advance, the expenses contributed in the common loss and the rescue pay shall be apportioned to cargo according to regulations;

c) Cost of inspection and valuation of goods;

d) Cost of organization of auction;

dd) Costs relevant to the consignment, storage and sale of goods, including cost of material handling, storage and displacement of goods;

e) Payment of debts to the retainer;

g) Other relevant expenses.

2. The spending of the sums specified in clause 1 of this Article shall be supported by valid invoices as prescribed by Law. The payment shall be made within 30 days from the day on which the carrier receives the proceeds from the auction of the goods.

3. If the proceeds from the auction of retained goods is not sufficient for paying the sums specified in clause 1 of this Article, the carrier may request the responsible entities to pay for the deficit according to regulations.

According to this Article, if you are the retainer at the seaports of the goods retained and auctioned, the proceeds from the auction of these goods will be given priority to pay for the above mentioned amounts. according to regulations in Vietnam, including debts incurred by you.

Can proceeds from the auction of retained goods at seaports be used to pay debts to the retainer in Vietnam? (Image from the Internet)

How many days after auction of goods must the proceeds from the auction of retained goods at the seaport be paid into the state budget in Vietnam?

According to Article 14 of Decree 169/2016/ND-CP regulating use of the remaining amount of proceeds from the auction after the spending, accordingly:

1. If the eligible recipient of the remainder claims such money, the carrier shall pay it to the claimant as prescribed by law; where multiple persons are eligible to receive such remainder, they shall receive a share of the remainder in proportion to their own interests.

2. After 180 days from the day on which the good is auctioned, if there is no claimant of the remainder, the carrier shall transfer such amount to the state budget at the State Treasury of province of the places where the auction is conducted.

3. If the claim for the remainder is rejected by the carrier, the claimant may initiate a lawsuit.

Thus, after 180 days from the auction of goods in Vietnam, the carrier will pay the proceeds from the auction of goods retained at the seaport to the state budget when no one requests to receive the money back.

What are responsibilities of the consignee at the seaport in Vietnam?

Pursuant to Article 15 of Decree 169/2016/ND-CP regulating responsibilities of the consignee of goods stored at seaports, specifically as follows:

The consignee shall pay all the expenses and loss incurred during the retention; must not claim the goods when the auction of goods has been finished according to this Decree and other relevant regulations pertaining to property auction.

With this regulation in Vietnam, the recipient of goods stored at the seaport needs to comply with the regulations on their responsibilities as above.

Best regards!