Evaluation and scoring criteria for selecting asset auction organizations in Vietnam in 2025

Evaluation and scoring criteria for selecting asset auction organizations in Vietnam in 2025 (Image from the internet)

On December 31, 2024, the Minister of Justice issued Circular 19/2024/TT-BTP guiding the Law on Asset Auction 2016 (amended by the amended Law on Asset Auction 2024).

Evaluation and scoring criteria for selecting asset auction organizations in Vietnam in 2025

According to Article 35 of Circular 19/2024/TT-BTP, regulations on the evaluation and scoring criteria for selecting asset auction practice organizations in Vietnam are as follows:

(1) Asset auction practice organizations submit 01 set of dossiers by either paper or electronic copy as per the announcement of the property owner.

The property owner shall not require the asset auction practice organization to submit the original, certified copies, or photocopies of the service contract for asset auction, auction records.

(2) The property owner shall self-evaluate or establish an evaluation team or choose another method to assess the criteria for selecting an asset auction practice organization and be responsible for this evaluation.

(3) Based on the information in the application dossier of the asset auction practice organization, the property owner shall score according to all criteria specified in Appendix I issued with Circular 19/2024/TT-BTP and handle situations according to the provisions of clauses (5) to (8).

In cases where there is verified evidence that the asset auction practice organization has falsified its dossier or intentionally provided information to distort the dossier of selecting an asset auction practice organization, the property owner shall not evaluate or score that organization.

In cases where there is a document from a competent authority announcing that the asset auction practice organization has falsified its dossier or intentionally provided information to distort the dossier of selecting an asset auction practice organization, the property owner shall refuse to consider, evaluate the dossier of that organization.

(4) The selected asset auction practice organization is the one with the highest total score of all criteria combined. In case there are two or more organizations with equal highest total scores, the property owner shall consider and decide to select one of those organizations.

If the selected asset auction practice organization refuses the selection result, the property owner shall consider and decide to select the next highest scoring organization to hold the auction or reselect another organization according to the provisions of this Chapter.

(5) In cases where within 12 months until the filing date, the asset auction practice organization has a legal representative or auctioneer convicted by a legally effective judgment for offenses related to asset auction activities conducted on behalf of, for the benefit of, or with the directive, management, or approval of that organization, then 50% of the total points shall be deducted.

(6) In cases where within 12 months until the filing date, the asset auction practice organization is in one of the following categories, the following shall apply:

- If an auctioneer of the organization is administratively sanctioned for violating regulations concerning asset auction activities under points d and dd, clause 3, clauses 4, 5, 6, and 7 of Article 22 Decree 82/2020/ND-CP as amended by Decree 117/2024/ND-CP, 5% of the total points will be deducted for each administratively sanctioned auctioneer;

- If the asset auction practice organization is administratively sanctioned for violating regulations concerning asset auction activities under points b, d, dd, h, i, k clauses 3, 4, 5 of Article 24 Decree 82/2020/ND-CP as amended by Decree 117/2024/ND-CP, except for acts sanctioned under point c of this clause, 5% of the total points will be deducted for each violation;

- If the asset auction practice organization does not publicly announce the asset auction on the National Asset Auction Portal according to the competent authority's announcement, 20% of the total points shall be deducted, except where administrative sanctions have already been imposed for this act;

- If an auctioneer of the organization is convicted by a legally effective judgment for offenses related to asset auction activities not under the circumstances specified in clause (5), 20% of the total points shall be deducted.

(7) In cases within 12 months until the filing date, if the asset auction practice organization falls into a category previously refused for consideration, evaluation under clause 3 of this Article or had its selection result canceled under clause 2 of Article 36 of Circular 19/2024/TT-BTP, 50% of the total points shall be deducted.

(8) If by the filing deadline, only one asset auction practice organization registers, the property owner shall consider and decide to select that organization if it meets the requirements of the Law on Asset Auction 2016, amended Law on Asset Auction 2024, Circular 19/2024/TT-BTP, and relevant laws.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE