In the process of participating in auction activities in Vietnam, the auctioneer must bring his/her Auction Card. So, what procedures are needed to get an Auction Card?
Article table of contents
Criteria for auctioneers and Procedure for Issuing Auction Cards in Vietnam (Source: internet)
1. Criteria for auctioneers in Vietnam
According to Article 10 of the Law on Property Auction 2016, an auctioneer must meet 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 Law on Property Auction 2016, except where he/she is exempted from such a course under Article 12 of Law on Property Auction 2016;
- Having passed the examination of auction practice internship results.
2. Auctioneer Practice Certificate in Vietnam
According to Article 14 of the Law on Property Auction 2016, the procedures of issuance of auctioneer practice certificates is as follows:
2.1 Application for the issuance of an auctioneer practice certificate
A person who fully satisfies the criteria prescribed in Section1 shall send a dossier of application for an auction practice certificate to the Ministry of Justice and pay a charge prescribed by law. Such a dossier 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.
2.2 Deadline for processing the application for Auction Certificate issuance
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.
An auction practice certificate holder shall be granted an auctioneer card by the provincial-level Justice Department at the request of the property auction organization where he/she practices. His/her auctioneer card shall be revoked when he/she has his/her auction practice certificate revoked under Article 16 of the Law on Property Auction 2016.
3. Auction Card Issuance Procedures in Vietnam
The procedure for issuing auctioneer cards is specified in Article 3 of Decree 62/2017/ND-CP as follows:
- An asset auction organization, an organization in which the State owns 100% of charter capital, established by the government to handle bad debts of a credit institution, paid directly, sent by postal service, or in an appropriate form. Another set of application files for the issue of an auctioneer card to its own auctioneer to the Department of Justice of Vietnam where the organization is headquartered. the application includes:
+ An application form for an auctioneer's card
+ A certified copy or a copy enclosed with the original for comparison of the auctioneer's practicing certificate of the auctioneer who is requested to issue the card.
+ 1 color photo of size 2 cm x 3 cm (photo taken no more than 6 months before the date of submission).
- Within five working days from the date of receipt of a complete and valid dossier as prescribed in Clause 1, Article 3 of Decree 62/2017/ND-CP, the Department of Justice shall issue an auctioneer's card; in case of refusal, the reason must be notified in writing.
Within three working days from the date of issuance of the auctioneer card, the Department of Justice shall post the list of auctioneers on the website of the Department of Justice and concurrently send it to the Ministry of Justice.
- The auctioneer's card is only valid when the auctioneer practices in the organization that has applied for the card. Auctioneers are only allowed to operate an auction after being issued a card by the Department of Justice.
When operating an asset auction, the auctioneer must wear the tag. The person who is issued an auctioneer card may not concurrently practice notarial practice or bailiff practice.
Thus, in order to be granted an auctioneer's practicing certificate, an individual must meet the above conditions.
Chi Nhan
