Vietnam: Cases where the price appraisal enterprises are not permitted to perform appraisal of prices

According to Article 10 of Decree No. 89/2013/ND-CP of Vietnam’s Government, cases where the price appraisal enterprises are not permitted to perform appraisal of prices include:

1. Performing appraisal of prices when failing to ensure compliance with the Vietnam Criteria on appraisal of prices.

2. Trading the assets under state secrets as prescribed by law on list of state secrets.

3. There are the price appraisers participating in appraisal of prices, persons in charge of management, members of the Control Board of the price appraisal enterprises, who are members, founding shareholders or buy shares, contribute capital in organizations which are customers requesting for appraisal of prices.

4. There are the price appraisers participating in appraisal of prices, persons in charge of management, members of the Control Board of the price appraisal enterprises, whose parents, spouses, children, brothers and sisters are:

- Members, founding shareholders or buy shares, contribute capital in organizations which are customers requesting for appraisal of prices.

- Persons in charge of leading, management and administration, being chief accountant, members of the Control board, supervisor of organizations that are the customers requesting for appraisal of prices.

5. Persons in charge of management, administration, members of the Control Board, and supervisors of units subject to appraisal of prices and concurrently are persons who buy shares, contribute capital in the price appraisal enterprises.

6. The price appraisal enterprises and customers of appraisal of prices have the following relationships:

- There is a same individual or enterprise or organization which establishes or participates in establishment; or operating in a same group, corporation, or a complex of mother company- subsidiary companies;

- Having relationship in management, control, capital contribution under all forms between two parties;

- Directly or indirectly suffer the management, control, capital contribution under all forms of a third party;

- Having agreement on business cooperation on the basis of contract.

7. The price appraisal enterprises are in time of being suspended or temporarily stop activities of appraisal of prices.

View more details at Decree No. 89/2013/ND-CP of Vietnam’s Government, effective from September 25, 2013.

Ty Na

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE