Application and procedures for grant of auction practice certificates in Vietnam

Criteria for auctioneers in Vietnam

According to the provisions of Article 10 of the Law on Property Auction 2016, an auctioneer must fully satisfy the following criteria:

- Being a Vietnamese citizen permanently residing in Vietnam, abiding by the Constitution and law, and possessing good ethical quality;

- Possessing a university or postgraduate degree in law, economics, accounting, finance or banking;

- Having graduated from an auction training course prescribed in Article 11 of the Law on Property Auction 2016, except where he/she is exempted from such a course under Article 12 of the Law on Property Auction 2016;

- Having passed the examination of auction practice internship results.

Application and procedures for grant of auction practice certificates in Vietnam (Internet image)

Application for grant of auction practice certificates in Vietnam

A person who fully satisfies the criteria prescribed above shall send a dossier of application for an auction practice certificate to the Ministry of Justice and pay a charge prescribed by law. Such an application must comprise:

- An application for an auction practice certificate;

- A certified copy or a copy enclosed with the original of the applicant’s university or postgraduate degree in law, economics, accounting, finance or banking;

- A certified copy or a copy enclosed with the original of the applicant’s auction training certificate;

- A written certification that the applicant has passed the auction practice internship result examination;

- A judicial record card;

- A color photo sized 3 cm x 4 cm.

Procedures for grant of auction practice certificates in Vietnam

Pursuant to Clause 2, Article 14 of the Law on Property Auction 2016, the procedures for grant of auction practice certificates in Vietnam are as follows:

Step 1: Submit the application

A person who fully satisfies the criteria prescribed above shall send an application for an auction practice certificate to the Ministry of Justice and pay a charge prescribed by law

Step 2: Process the application and return the results

Within 15 days after receiving a complete and valid dossier, the Minister of Justice shall decide to grant an auction practice certificate. In case of refusal to grant such certificate, he/she shall state the reason in writing. Persons whose applications for auction practice certificates are rejected may file complaints or initiate lawsuits in accordance with law.

Cases of revocation of auction practice certificates in Vietnam

According to the provisions of Clause 1, Article 16 of the Law on Property Auction 2016, the holder of an auction practice certificate will have such certificate revoked in the following cases:

- One of the following cases:

+ Those who fail to fully satisfy the criteria prescribed in Article 10 of this Law.

+ Career officers or soldiers, national defense workers or public employees in agencies or units of the People’s Army; operational officers or non-commissioned officers, professional or technical officers or non-commissioned officers in agencies or units of the People’s Public Security;

Cadres, civil servants or public employees, except civil servants or public employees to be granted auction practice certificates to work for property auction service centers.

+ Those who have lost civil act capacity or have civil act capacity restricted or have problems in cognition or behavior control.

+ Those who are examined for penal liability; have been convicted under legally effective judgments; had been convicted but have not yet had their criminal records remitted; or have been convicted for the crime of swindling for appropriating property or corruption, even when their criminal records have been remitted.

+ Those who are subject to the administrative handling measure of being consigned to a compulsory detoxification establishment or compulsory education establishment in accordance with the law on handling of administrative violations.

- He/she has failed to practice auction under Clause 1, Article 18 of the Law on Property Auction 2016 for 2 years after being granted the certificate, except where his/her failure is caused by a force majeure event;

- He/she is administratively sanctioned in accordance with the law on handling of administrative violations for the following acts:

+ Taking advantage of their capacity as auctioneers to act for the self-seeking purpose;

+ Colluding or being in cahoots with auctioned property sellers, bidders, price assessment organizations, auctioned property appraisal organizations and other individuals or organizations to falsify information about auctioned property, suppress prices, falsify auction dossiers or property auction results;

- He/she is willing to quit practicing;

- He/she is declared missing or dead.

Mai Thanh Loi

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