What are lottery agents? Regulations on conditions for lottery agents in Vietnam

What are lottery agents? Regulations on conditions for lottery agents in Vietnam (Internet image)

1. What are lottery agents?

According to Clause 11 Article 3 of Circular 75/2013/TT-BTC, the lottery agents include organizations, individuals eligible legally as prescribed in this Circular directly sign contract of lottery agent with lottery companies for ticket distribution, consumption and paying the prizes to clients when clients win according to conditions, terms specified in contract of lottery agent.

2. Regulations on conditions for lottery agents in Vietnam

2.1. For individuals working as lottery agents in Vietnam 

Specifically, at Point a, Clause 1, Article 16 of Circular 75/2013/TT-BTC, conditions for lottery agent as individuals include:

- Being Vietnamese citizens aged 18 years or older, permanently residing in Vietnam;

- Not being persons having previous convictions, criminal records; not being persons limited the civil act capability or lost civil act capability as prescribed by law;

- Not being employees, managers working at lottery companies or lottery companies operating in the same area;

- Not being spouse, biological father or mother, adoptive father or mother, children, adopted children, biological sisters or brothers, adoptive sisters or brother of chairmen, General Directors or Directors, deputy General Directors or deputy Directors, Chiefs accountant or persons in charge of accounting, controllers and heads, deputies of professional departments of that lottery company or lottery companies operating in the same area.

- Meeting requirements on ensuring payment as prescribed by law on guarantee transaction to ensure the payment obligation to lottery companies;

- Having written commitment on full compliance with provisions of lottery companies upon becoming lottery agent.

2.2. For organizations working as lottery agents in Vietnam 

According to Point b, Clause 1, Article 16 of Circular 75/2013/TT-BTC, conditions for lottery agent as organizations include:

- Being economic organizations that are established and operate legally in Vietnam;

- Not being economic organizations owning the contributed capital of chairmen, General Directors or Directors, deputy General Directors or deputy Directors, Chiefs accountant or persons in charge of accounting, controllers and heads, deputies of professional departments of that lottery company or lottery companies operating in the same area;

- Not being economic organizations owning the contributed capital of spouse, biological father or mother, adoptive father or mother, children, adopted children, biological sisters or brothers, adoptive sisters or brother of chairmen, General Directors or Directors, deputy General Directors or deputy Directors, Chiefs accountant or persons in charge of accounting, controllers and heads, deputies of professional departments of that lottery company or lottery companies operating in the same area;

- Meeting requirements on ensuring payment as prescribed by law on guarantee transaction to ensure the payment obligation to lottery companies;

- Having written commitment on full compliance with provisions of lottery companies upon becoming lottery agent.

3. Contract of lottery agent in Vietnam

Organizations and individuals eligible as prescribed in Section 2 and selected to do as lottery agent must sign contract of lottery agent with lottery companies.

Contracts of lottery agent that are elaborated by lottery companies must ensure full principal contents as follows:

- Names, addresses, representatives of parties signing contracts of lottery agent;

- Type of lottery tickets received for sale;

- The allowed methods of distributing lottery tickets;

- Methods of and procedures for delivery and receipt of tickets and returning lottery ticket that are not sold;

- Quantity of lottery tickets received for sale. In case where quantity of lottery tickets received for sale is adjusted in each period, content of quantity of lottery tickets received for sale is specified in Annex of contract. Annex of contract is an integral part of contract of lottery agent;

- Rate of agent commission; rate of the charges enjoyed from payment for lottery tickets winning prizes (if any);

- Methods of paying amounts from sale of lottery ticket, time of payment, debt term;

- Forms to guarantee performance of payment obligation;

- Rights and obligations of parties signing contract;

- Handling of violations and commitments on compensation due to breaking contract;

- Effect time limit of contract;

- Other contents in serve for the management requirements of lottery companies but not being contrary to provisions of law.

(Article 17 of Circular 75/2013/TT-BTC)

Thanh Rin

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE