Procedures for conducting a vehicle license plate auction in Vietnam from January 1, 2025

Procedures for conducting a vehicle license plate auction in Vietnam from January 1, 2025​ (Image from the internet)

On December 10, 2024, the Government of Vietnam issued Decree 156/2024/ND-CP regulating the auction of vehicle license plates.

Procedures for conducting a vehicle license plate auction in Vietnam from January 1, 2025

Article 14 of Decree 156/2024/ND-CP outlines the steps for conducting a vehicle license plate auction as follows:

(1) Registering to participate in the auction

- The registration to participate in the auction is conducted entirely online at the online auction information page of the asset auction practice organization; participants register and submit auction participation documents on the online auction information page; participants are responsible for the accuracy and truthfulness of the information declared to register for the auction.

- Auction participants are provided with an access account, instructions on how to use the account, how to bid, and other contents on the online auction information page to carry out the auction;

- Participants can select license plates according to their needs from the list of license plates offered for auction from all provinces and cities directly under the central government nationwide;

- Participants must submit application fees and deposit fees for the selected vehicle license plate to participate in the auction into the asset auction practice organization's account as regulated in Clause 1, Article 7 and Clause 1, Article 8 of Decree 156/2024/ND-CP and are issued an auction code for that auction of the license plate;

- The asset auction practice organization sells auction participation documents, accepts auction documents from the date of property auction announcement until 2 days before the auction is held.

(2) Auction participants access the online auction information page using their access account and carry out auction procedures according to the Auction Regulations

(3) At the end of the online auction, the online auction information page identifies the winning bidder, announces the auction results, displays the auction minutes for the winning bidder to confirm, and sends notifications to the email address registered by the auction participant with the asset auction practice organization.

(4) If by the end of the registration period for auction participation only one person has registered to participate, that person is determined as the winning bidder for the vehicle license plate, and the winning bidder will receive a notification and the winning auction minutes for that license plate before the auction is held.

(5) The asset auction practice organization is responsible for reviewing documents, verifying the information of the auction participants, assigning auctioneers to conduct the online auction on the online auction information page, and authenticating the auction minutes with a digital signature to send to the winning bidder.

(6) The Ministry of Public Security supervises the auction organization process, auction results, authenticates the auction minutes with a digital signature, and other relevant contents.

Vehicle license plate auction regulations in Vietnam from January 1, 2025

Based on the auction organization plan, the asset auction practice organization issues the Auction Regulations, which include the following contents:

- List of license plates offered for auction;

- Auction time;

- Starting price, bid increment;

- Account for deposit payment to participate in the auction;

- Method of participating in the auction.

(Article 12 of Decree 156/2024/ND-CP)

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