Regulations on refunds for winning vehicle license plate auctions in Vietnam

Regulations on refunds for winning vehicle license plate auctions in Vietnam​ (Image from the Internet)

1. Procedures for conducting a vehicle license plate auction in Vietnam

The procedures for conducting a vehicle license plate auction in Vietnam according to Article 14 of Decree 156/2024/ND-CP are as follows:

- Registration for auction participation

+ The registration for auction participation is done entirely online at the Online Auction Information Portal of the asset auction practicing organization; participants register, submit their registration documents for participation on the Auction Information Portal; participants are responsible for the accuracy and truthfulness of the information declared for auction participation.

+ Participants are granted an access account, are guided on how to use the account, how to bid, and other contents on the Online Auction Information Portal to conduct the auction;

+ Participants choose the vehicle license plate they desire from the list of license plates put up for auction from all provinces and centrally-controlled municipalities nationwide to participate in the auction;

+ Participants submit the registration fee, deposit for the selected license plate they wish to auction to the account of the asset auction practicing organization as prescribed in Clause 1, Article 7, and Clause 1, Article 8 of Decree 156/2024/ND-CP and are issued an auction code for that license plate auction;

+ The asset auction practicing organization sells auction participation documents, accepts the registration from the date of the public notice of asset auction until two days before the auction opens.

- Participants access the Online Auction Information Portal using their access account and conduct the auction procedures according to the Auction Rules.

- At the end of the online auction, the Online Auction Information Portal determines the auction winner, notifies the auction results, displays the auction minutes for the winning bidder to confirm, and sends notifications to the email address of participants registered with the asset auction organization.

- If only one person registers for the auction at the end of the registration period, that person is determined to be the winning bidder for the vehicle license plate. The winner will receive a notification and minutes of the winning auction for that license plate before the auction is held.

- The asset auction practicing organization is responsible for reviewing documents, verifying the participant's information, assigning the auctioneer to chair the online auction on the Online Auction Information Portal, and certifying the auction minutes with a digital signature to be sent to the winning bidder.

- The Ministry of Public Security supervises the auction organization process, auction results, certifies the auction minutes with a digital signature, and other related contents.

2. Regulations on refunds for winning auction of vehicle license plates in Vietnam

According to Article 26 of Decree 156/2024/ND-CP, the regulations on refunds for the winning auction of vehicle license plates in Vietnam are as follows:

- A full refund of the auction amount paid is made in cases of auction cancellation as stipulated in points a, b, c, d of Clause 1, Article 21 of Decree 156/2024/ND-CP.

- The auction winner, the estate manager, the heir by will, or the heir by law of the auction winner submits a request for refunding the auction amount according to Appendix V issued with Decree 156/2024/ND-CP.

- After receiving the refund request documents, the Ministry of Public Security is responsible for examining and comparing the documents and proceeding with the refund process as follows:

+ In case of refunding before the time of paying into the national budget: The refund is made from the special collection account of the Ministry of Public Security opened at a bank or a foreign bank branch;

+ In case of refunding after the time of payment into the national budget: The Ministry of Public Security verifies and compares the refund request documents with the documents of the national budget payment previously made; if appropriate, the Ministry of Public Security issues a refund decision to the Tax Authority to create a refund order of the state budget receipts, transferring it to the State Treasury where the national budget was deposited to refund to the state budget payer;

+ In case the documents are invalid, the Ministry of Public Security sends notifications to the auction winner, the estate manager, the heir by will, or the heir by law of the auction winner.

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