Deposit to participate in auction of motor vehicle license plate in Vietnam

Deposit to participate in auction of motor vehicle license plate in Vietnam

- Deposits shall be sent to a separate checking account of auction organizations. Deposit can be made from participation registration date until 3 days before auction date.

Auction participants that win the auction shall have their deposits transferred to collection accounts of the Ministry of Public Security in order to be submitted to the state budget as per the law.

- Handling of deposits in specific cases shall conform to Article 39 of the Law on Property Auction.

Steps of each lot auction of motor vehicle license plate in Vietnam

- Apply for participation in auction

+ Application for participation in auction shall be done entirely on online auction website of auction organization;

+ Auction participants shall be issued with login accounts and provided with instructions on how to use the account, how to bid, and other details on online auction website in order to bid;

+ Auction participants are allowed to choose motor vehicle license plates among the list of motor vehicle license plates to be auctioned of all provinces and central-affiliated cities;

+ Auction participants shall send payments for application and deposits for motor vehicle license plates that they have selected to account of auction organizations and shall be issued with code to participate in motor vehicle license plate auction;

+ Auction organizations are responsible for receiving application for participation in auctions and deposits throughout the period from the date on which the auction is publicly listed to 3 day

- Auction participants shall access online auction website with their accounts and comply with auction procedures under auction rules.

- At the end of online lot auction, online auction website shall announce auction winners, declare lot auction results, disclose auction records to enable auction winners to verify, and send to email address of auction participants registered to auction organizations.

- Auctioneers are responsible for organizing online auctions, verifying auction records using digital signature and sending auction records to auction winners.

- The Ministry of Public Security shall assign officials to monitor, supervise the auction process: quantity of auctioneers, quantity of auction participants, auction results, and other relevant issues.

- Auction procedures not mentioned under Decree 39/2023/ND-CP shall conform to the Law on Property Auction.

Decree 39/2023/ND-CP takes effect as of July 1, 2023.

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