4 things you should know about pilot auction of car license plates in Vietnam

4 things you should know about pilot auction of car license plates in Vietnam (Internet image)

The National Assembly of Vietnam promulgated Resolution 73/2022/QH15 dated November 15, 2022 on pilot auction of car license plates

Specifically, some contents related to the pilot license plate auction are as follows

1. What is car license plate put up for auction?

According to Clause 1, Article 2 of Resolution 73/2022/QH15, the car license plate put up for auction is the one having white background with black letters and numbers, except for license plates issued to cars of military enterprises and projects, business entities in joint venture with foreign partners, cars of foreign organizations and enterprises, diplomatic missions, consular agents, representative offices of international organizations and foreigners working in foreign and international agencies and organizations operating in the Vietnamese territory.

Where:

- Auction form is online auction.

- The auction method is ascending price auction.

(Clause 1 and 2, Article 4 of Resolution 73/2022/QH15)

2. Regulations on selection of license plates for cars to be put up for auction

According to Clause 2, Article 2 of Resolution 73/2022/QH15, the selection of car license plates put up for auction is regulated as follows:

- The Ministry of Public Security and the property auction organization are responsible for making public the car license plates specified in Section 1 that have not been registered or are expected to be issued on the national web portal on property auctions, the website of the Ministry of Public Security, the website of the Traffic Police Department and the online website of the property auction organization;

- Organizations and individuals may select car license plates of provinces and centrally-affiliated cities to register for auction;

- The car license plate that is not selected for auction, and the car license plate that is not successfully auctioned shall be immediately transferred to the vehicle registration and management system for registration according to regulations.

3. Reverse price, deposit, bid increment, proceeds from auction of car license plates in Vietnam

The reverse price, deposit, bid increment, proceeds from auction of car license plates are specified as follows:

- The reverse price of a car license plate put up for auction is VND 40,000,000.

- The deposit is equal to the reverse price of a car license plate put up for auction.

- The bid increment is VND 5,000,000.

- The proceeds from the auto license plate auction, after deducting the expenditures for holding the auction, shall be transferred to the central budget in accordance with the law on state budget.

(Article 3 of Resolution 73/2022/QH15)

4. Rights and obligations of an auction winner of car license plate in Vietnam

4.1. Rights of an auction winner of car license plate in Vietnam

Specifically, in Clause 1, Article 6 of Resolution 73/2022/QH15, the rights of an auction winner of car license plate include:

- To be issued with a written certification of the winning car license plate after paying his/her own winning bid in full;

- To register the winning car license plate attached to the car under his/her ownership at the police office where the winning car license plate is managed or where the auction winner registers his/her permanent residence or headquarters;

- To keep the winning car license plate in case the car is lost, damaged, cannot be used or is transferred, exchanged or donated for registration of another vehicle under his/her ownership within 12 months from the time the car is lost, damaged, cannot be used or the ownership is transferred;

- To be re-issued with the winning car license plate, and a written confirmation of the winning car license plate when it is lost, blurred or damaged;

- Within the time limit 12 months from the date of being issued with a written confirmation of the winning car license plate, if the auction winner dies but has not yet carried out the procedures for car registration with the winning license plate, the winning car license plate shall be transferred to the vehicle registration and management system, and the successor of that license plate, in accordance with the law on inheritance, is entitled to receive the amount paid by the auction winner after deducting the costs of holding the auction.

4.2. Obligations of an auction winner of car license plate in Vietnam

Obligations of the auction winner of car license plate include:

- Fully pay the winning bid within 15 days from the date of approval of the auction results in writing; the winning bid does not include the fee for registration and issuance of the car license plate;

- Carry out procedures for car registration to attach the winning license plate within 12 months from the date of being issued with a written confirmation of the winning car license plate; in case of force majeure events or objective hindrance, this time limit may be extended for a maximum of 06 months.

After the specified time limit, if the auction winner of car license plate fails to carry out the procedures for car registration in order to attach the winning license plate, the winning car license plate will be transferred to the registration and management system and the auction winner is not entitled to a refund of the paid winning bid;

- Not to transfer, exchange, gift, or bequeath the winning car license plate, except for the case of transfer, exchange, gifting or bequeathal of the car with the winning license plate.

(Clause 2, Article 6 of Resolution 73/2022/QH15)

Resolution 73/2022/QH15 takes effect July 1, 2023 and will be implemented for three years.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE