Procedures of tariff rate quota allocation for sugar imports using auction in Vietnam

Specifically, regulations on the form of auction and the order of tariff rate quota allocation for sugar imports using auction in Vietnam are as follows:

The form of tariff rate quota allocation for sugar imports using auction is held in the form of indirect voting and the method of bidding up prices in Vietnam

The procedures of tariff rate quota allocation for sugar imports using auction in Vietnam is as follows:

- At the Auction, the Auction Council opens the envelopes containing the bid vouchers of traders eligible to participate in the allocation of sugar import tariff quotas by auction method.

After that, the Council publishes the entire auction results of all traders selected to participate in the Auction.

- Auction winning trader is a trader who has a coupon with the highest price from top to bottom in order to the end of the number of sugar import tariff quotas to be auctioned but not lower than the starting price.

In addition, for the case where traders call in at an equal price, then:

Traders who have a quotation at the same price with a total amount of registered tariff quota that is greater than the remaining quota must divide that quota by the number of traders registered at each quotation.

In the event that the number of quotas is divided, it will be done according to the principle of rounding or according to the decision of the Chairman of the Auction Council of Vietnam.

Circular 11/2022/TT-BCT takes effect on August 12, 2022, Vietnam

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