Rights and obligations of apprentice auctioneers in Vietnam from January 01, 2025

Rights and obligations of apprentice auctioneers in Vietnam from January 01, 2025​ (Image from Internet)

On December 31, 2024, the Minister of Justice of Vietnam issued Circular 19/2024/TT-BTP guiding the Law on Asset Auction amended according to Law on Asset Auction 2024.

Rights and obligations of apprentice auctioneers in Vietnam from January 01, 2025

Article 10 of Circular 19/2024/TT-BTP prescribes the rights and obligations of apprentice auctioneers from January 1, 2025 as follows:

(1) Rights

Interns have the following rights:

- To be facilitated by the auction practicing organization receiving the internship to implement the internship content as prescribed in Article 8 of Circular 19/2024/TT-BTP;

- To be guided by the guiding auctioneer on internship contents, the execution of rights and obligations of interns;

- To request a change of the guiding auctioneer;

- To register for participating in the assessment of auction practice internship results;

- Other rights as agreed with the auction practicing organization receiving the internship and as prescribed by law.

(2) Obligations

Interns have the following obligations:

- To comply with the provisions of the Law on Asset Auction, amendment Law on Asset Auction, Circular 19/2024/TT-BTP, and related legal documents;

- To perform tasks within the internship content prescribed in Article 8 of Circular 19/2024/TT-BTP as assigned by the guiding auctioneer; to report internship results as prescribed by Circular 19/2024/TT-BTP;

- To be responsible before the guiding auctioneer and the auction practicing organization receiving the internship for the results and progress of the assigned tasks;

- To maintain confidentiality of information regarding content and related information learned during the internship;

- Other obligations as agreed with the auction practicing organization receiving the internship and as prescribed by law.

Regulations on suspension and termination of auction practice internship in Vietnam from 2025

The suspension and termination of auction practice internship in Vietnam from 2025 are regulated as follows:

(1) In case of justifiable reasons, an intern may suspend the internship but must notify in writing the auction practicing organization where the internship is being conducted. The suspension period shall not exceed 02 months and shall not be counted towards the internship period.

(2) An intern shall terminate the internship under the following circumstances:

- Voluntarily ends the internship;

- The internship suspension period prescribed in (1) has expired without continuing the internship;

- Falling into one of the cases prescribed in Article 15 of the Law on Asset Auction amended, supplemented by clause 10 Article 1 of the amendment Law on Asset Auction;

- Being removed from the list of interns as prescribed in clause 1 Article 22 of Circular 19/2024/TT-BTP.

(3) Within 05 working days from the date of termination of internship under points a, b, c clause 2 Article 7 of Circular 19/2024/TT-BTP, the auction practicing organization shall notify in writing the Department of Justice, clearly stating reasons for the termination.

Within 03 working days from the date of receipt of the notification from the auction practicing organization, the Department of Justice shall remove the intern from the list of interns.

(4) An individual who terminates the internship under points a and b clause 2 Article 7 of Circular 19/2024/TT-BTP shall retake the internship as prescribed in clause 1 Article 5 of Circular 19/2024/TT-BTP.

An individual who terminates the internship under point c clause 2 Article 7 of Circular 19/2024/TT-BTP may resume the internship when the reason for termination no longer exists.

An individual who has the internship terminated under point d clause 2 Article 7 of Circular 19/2024/TT-BTP may resume the internship after one year from the termination date.

(5) The internship period prior to termination as prescribed in (2) shall not be counted towards the auction practice internship period.

(Article 7 Circular 19/2024/TT-BTP)

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