Vietnam: Assessment of requirements for conducting online auction

09:20, 31/10/2017

The organization holding online auctions in Vietnam must meet necessary requirements, which must be assessed by the Service of Justice of province according to the following regulations:

1. The property auction organization shall submit a project for online auction to the Service of Justice of the province where it is headquartered.

2. The Director of Services of Justice shall establish an assessment council to assess if requirements for online auction are satisfied and issue the regulations on council’s operation; the council is composed of a representative acting as Chairman, representative(s) of relevant agencies and organizations, and qualified experts in the fields of auction and information technology.

3. The assessment council shall assess if the requirements below are satisfied:

- Legal bases and necessity of online auction;

- Infrastructure, facilities and technicians operating the online auction website;

- The safety and confidentiality of online auction system;

- Display, recording, retention, and extract of online auction system;

- Plans and technical solutions for the operation of infrastructure;

- Feasibility and efficiency in initiating online auction system in reality.

View more details at Decree No. 62/2017/ND-CP of Vietnam’s Government effective from July 01, 2017.

- Ngoc Duyen -

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