Persons are not entitled to practise in price-appraising enterprises in Vietnam

Persons are not entitled to practise in price-appraising enterprises in Vietnam (Internet image)

Regarding this issue, LawNet would like to answer as follows:

1. Persons are not entitled to practise in price-appraising enterprises in Vietnam 

Persons are not entitled to practise in price-appraising enterprises in Vietnam according to Article 36 of the Law on Prices 2012 include:

- Persons are not full criterions specified in article 34 of the Law on Prices 2012.

+ Possessing civil act capacity.

+ Possessing ethics quality, integrity, honesty, objective.

+ Graduating university in specialty related to price-appraising operations.

+ Having worked with the trained specialty for 36 months or more since possessing university degree in specialty line specified in clause 3 of this Article.

+ Possessing the certificate of professional training in price-appraising operations, granted by competent agencies.

+ Possessing card of price appraiser as prescribed by the the Ministry of Finance.

- Cadres, public employees as prescribed by law on Cadres, public employees; officers, professional soldiers, defense workers in agencies, units under People’s army; officers, profession non-commissioned officers, officers, technical specialized non-commissioned officers in agencies, units under People’s Security Public.

- Persons being banned to practise on price appraisal by effective judgements, decisions of Court, persons being prosecuted criminal liability; convicted persons for one of crimes of economy, position relating to finance, prices, price appraisal and not being yet wiped out their criminal records;

Persons being applied measures of administrative handling, educating in communes, wards and townships, persons being sent into compulsory detoxification centers, compulsory educational facilities.

- Convicted persons for economical crimes with level from serious or more.

- Persons having acts violating laws on finance and being sanctioned administrative violation in duration of 01 year, since day of having sanctioning decision.

- Persons being suspended for practicing price appraiser.

2. Rights and obligations of practising price appraiser in Vietnam 

Rights and obligations of practising price appraiser under Article 37 of the Law on Prices 2012 are as follows:

- Rights of practising price appraiser:

+ Price-appraising practicing under provisions of this Law and other provisions of relevant laws.

+ Being independent on career skill, professional;

+ Requiring customers to supply dossiers, documents relating to assets being appraised and facilitate to implement price appraisal;

+ Refusing price appraisal if deem it is not eligible to implement price appraisal;

+ Participating in domestic and foreign professional organizations of price appraisal as prescribed by law;

+ Other rights as prescribed by law.

- Obligations of practising price appraiser:

+ Complying with provisions on price-appraising operation under provisions of this Law and other provisions of relevant laws;

+ Performing rightly and fully contract of price appraisal;

+ Signing report on result of price appraisal, certificate of price appraisal and taking responsibility before law, the legal representatives, general Directors of Directors of price-appraising enterprises for result of price appraisal;

+ Providing explanation or protecting result of price appraisal which is implemented by them for the price-appraising customers or the third party using result of price appraisal, that is not the price-appraising customer but in the contract of price appraisal have written, upon being requested;

+ Participating in programs on fostering professional knowledges of price appraisal organized by permitted agencies or institutions;

+ Keeping dossiers, documents on price appraisal;

+ Other obligations as prescribed by law.

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