Decision No. 05/2002/QD-BNV on approving the Statutes of the Vietnam Real Estate Association

CHARTER

Vietnam Real Estate Association

Chapter 1.

Name of the Association:

Article 1.

The Association shall be named Vietnam Real Estate Association.

English name: Vietnam Association of Real Estate (Abbreviation: VARE)

Article 2. Vietnam Real Estate Association is a professional organization established and operated on a voluntary basis by enterprises from various economic sectors engaged in investment, management, exploitation, and real estate trading activities; organizations and individuals in Vietnam directly related to the real estate market.

The purpose of the Vietnam Real Estate Association is to gather and unite enterprises involved in investment, management, exploitation, and real estate trading activities; protect the common interests of the industry, legitimate interests of enterprises operating in the real estate sector, and the interests of organizations and individuals regarding ownership and use of real estate; support member enterprises in forecasting the real estate market, sharing experiences in management, exploitation, trading, technology transfer, legal foundations, and other areas relevant to business operations, contributing to promoting sustainable and effective development of the Vietnamese real estate market, thereby better serving people's needs for housing.

Article 3. The Vietnam Real Estate Association has legal personality, possesses seals and bank accounts for its operations;

The main office of the Association is located in Hanoi, the capital city;

The Association may have representative offices both domestically and internationally in accordance with the law.

Article 4. The Vietnam Real Estate Association is subject to the management of the Ministry of Construction in investment, management, exploitation, and trading activities of real estate; operates within the framework of laws of the Socialist Republic of Vietnam and this Charter.

Chapter 2.

TASKS AND POWERS OF THE ASSOCIATION

Article 5. Tasks and powers of the Association:

1\. To gather and mobilize the comprehensive strength of members towards summarizing and exchanging experiences, disseminating scientific and technological advancements in investment, management, exploitation, and trading of real estate, aiming to enhance the quality and efficiency of the entire industry as well as individual units, contributing to improving conditions for serving different strata of the population in the real estate sector.

2\. To assume the role of representing enterprises, acting as a bridge between the State and member enterprises. Coordinate with state agencies to promote, disseminate, and implement mechanisms, policies, and laws related to the real estate sector as well as the organization and operation of the Association. Propose and recommend state agencies to issue, amend, and supplement policies and management mechanisms, creating a legal framework for effective and lawful operations of Association members.

3\. To provide opinions to state management agencies on mechanisms and policies for developing the real estate market, gradually expanding this market for overseas Vietnamese and foreigners participating in real estate investment and trading according to the law.

4\. To participate in advisory, critical review, and social appraisal activities, programs, and projects related to state management of real estate when entrusted by competent state authorities.

5\. To collect, process, and provide information about the real estate market, appraise real estate values within its authority; introduce architectural, technical standards, regulations, and procedures related to real estate investment, exploitation, operation, and trading; advise localities and enterprises' real estate development projects on their territory and in the region according to the law.

6\. To represent members in international and regional organizations in the real estate field according to the law.

7\. To participate in mediating disputes (if any) among member enterprises involved in real estate investment, management, exploitation, and trading. Coordinate with legal authorities to protect the legitimate rights and interests of members when disputes arise during real estate investment, management, exploitation, and trading with domestic and foreign customers according to the law.

8\. To organize and support training and internship activities both domestically and internationally, contributing to building a workforce that meets the development needs of the industry in accordance with the law.

9\. To encourage and motivate members to maintain professional ethics, qualities, and responsibilities in real estate investment, management, and trading activities for societal and public benefit.

10\. To host and organize conferences, seminars; specialized reports, roundtable discussions on issues related to the tasks and work of the Association and its members.

11\. To publish specialized magazines, books, and newspapers and provide necessary information services for the operational objectives of Association members according to the law.

12\. To organize centers or appropriate organizational forms under the Association according to the law to implement service, training, advisory activities, or pilot high-efficiency investment models ensuring compliance with legal provisions and specific programs approved by the Association's Executive Board to support member units in enhancing their capacity in areas where they lack sufficient conditions for operation.

Chapter 3.

MEMBERS

Article 6. Members

1. Regular Members: Enterprises engaged in real estate investment, management, exploitation, and trading activities from various economic sectors in Vietnam and certain organizations and individuals directly related to the real estate sector who agree to the Charter and voluntarily apply for membership will be considered for admission as regular members of the Association.

Representatives of regular members must be authorized persons responsible for decisions related to the organization's or enterprise's activities or legally appointed representatives. In case of job changes, the authorized person may appoint another representative to replace them.

2. Associated Members: are organizations or enterprises of Vietnam operating in the fields of consultancy, construction, production, and supply of building materials and interior decoration; representatives of banks, financial institutions, and some organizations related to the real estate sector; foreign-invested enterprises or foreigners participating in real estate investment in Vietnam who agree with the Charter and voluntarily apply for membership shall be considered for admission as associated members of the Association.

3. Honorary Members: Are scientists and managers working in the fields of investment, business operation, exploitation, consultancy in real estate, or economic management agencies of Vietnam invited by the Executive Board of the Association to attend.

Article 7. Rights of members:

1. Participate in congresses, elect representatives to attend the Association's congresses;

2. Discuss and vote on all matters of the Association; make proposals and express opinions through the Association to state agencies;

3. Nominate themselves or be nominated for election to the Executive Board and other positions within the Association;

4. Receive professional experience dissemination, improve their qualifications through forms such as information provision, document distribution, seminar participation, training classes, technical guidance, technology transfer, domestic and international site visits and practical surveys;

5. Be assisted and supported by the Association in individual research projects, professional inventions, and legitimate rights protection according to state laws;

6. Apply to leave the Association after submitting an application;

7. Associated members and honorary members enjoy the same rights as regular members, except for the right to nominate and vote for the Executive Board of the Association.

Article 8. Obligations of members:

1. Strictly comply with the state's policies, laws, and provisions of this Charter; implement resolutions of the Association; promote recruitment of new members;

2. Participate in activities and meetings of the Association; unite and cooperate with other members to strengthen the organization of the Association;

3. Provide necessary information and data for the Association's activities;

4. Contribute membership fees and annual dues in full as stipulated.

Chapter 4.

ORGANIZATION OF THE ASSOCIATION

Article 9. The Vietnam Real Estate Association is organized and operates on the principles of voluntariness, self-management, financial self-sufficiency, and equality among members.

The Executive Board of the Association operates based on the principle of democratic centralism, collective leadership, and minority服从命令，接下来的翻译不应包含任何解释或评论，仅直接提供翻译内容：服从多数。

Article 10. Structure of the Association includes:

- The Association;

- Specialized Committees of the Association (Economics and Finance, Mechanism and Policy, Foreign Relations, Legal Affairs, Training, Science and Technology, Market Prices, Journal...);

- Representative offices of the Association;

- Branches and affiliated associations under the Association in localities;

- Consulting, service, and training centers;

- Other organizations as prescribed by law (if any).

Article 11. Congress of the Association

1. The General Congress of the Association is the highest authority of the Association, convened once every five years.

2. Main tasks of the Congress:

- Discussing reports on the summary of the term and the new direction of the Association's activities;

- Deciding on the direction and program of the Association's work;

- Deciding to amend and supplement the Charter of the Association;

- Discuss and decide on important issues of the Association that exceed the authority of the Executive Board;

- Discussing, approving the final accounts and adopting the new financial plan;

- Elect the Executive Board and the Inspection Board of the Association;

3. Resolutions of the Congress are adopted by majority principle.

Article 12. Annual Meeting.

The Executive Board shall convene it once a year to assess the results of the Association's activities for the year. The number and form shall be decided by the Executive Board in accordance with the situation and requirements of tasks.

Article 13. Extraordinary Meeting.

The Executive Board shall convene it to address urgent issues related to the organization and content of the Association's activities. An extraordinary meeting shall be organized upon the proposal of two-thirds of the Executive Board members or more than half of the official members requesting it.

Article 14. Executive Board of the Association

1. The Executive Board of the Association is the leading body of the Association between two congresses. The number of Executive Board members and the Inspection Board shall be decided by the Congress and directly elected at the Congress. The person elected must obtain more than 50% of the delegates attending the Congress. The number of members shall be taken from the highest number of votes downwards;

Executive Board members of the Association may be re-elected or relieved of duty before the term according to the decision of the Congress or the proposal of more than half of the official members;

The term of the Executive Board of the Association is five years; the members of the Executive Board operate under the regulations approved by the Executive Board and notified to the members for monitoring and inspection.

2. The Executive Board of the Association shall hold regular meetings every six months. In case of emergency, the President of the Association shall coordinate with the Vice Presidents to convene the meeting;

3. Duties and powers of the Executive Board:

- Decide on measures to implement resolutions, programs of activities for the term of the Congress;

- Decide on the program, plan, and annual tasks, and report the results of the Executive Board's activities to the members for implementation and monitoring;

- Approve plans, organizational structure, personnel, and annual financial settlement;

- Define the organization and operation of specialized committees, the Association's office, representative offices, and subordinate organizations; Define principles, systems, usage, and management of assets and finances of the Association;

- Appoint and dismiss the positions of General Secretary and leaders of organizations under the Association;

- Prepare content, agenda for serving the Congress and Association meetings;

- Decide to convene the Congress for the term or the annual member meeting;

- Considering membership applications and expelling members.

Article 15. Standing Committee:

1. The Standing Committee is elected by the Executive Board of the Association, including: President, Vice Presidents, General Secretary, and some members. The number of Standing Committee members shall be decided by the Executive Board of the Association;

2. The Standing Committee represents the Executive Board of the Association to direct and manage the Association's activities between two meetings and must report and review work during the Executive Board meetings;

3. The Standing Committee operates under the Regulations approved by the Executive Board of the Association.

Article 16. President and Vice Presidents:

1. The President has the authority and responsibility:

- Legal representative of the Association before the law;

- Organize and implement the Resolutions of the Congress, the Member Meetings, and decisions of the Executive Board of the Association;

- Convene and chair the meetings of the Executive Board of the Association;

- Sign decisions appointing, dismissing, and directly directing the General Secretary of the Association;

- Approve personnel for the Association's office and other organizations established by the Association;

- Be responsible to the Executive Board and all members for the activities of the Association;

2. The Vice Presidents of the Association assist the President in specific areas and may be authorized to manage the work of the Executive Board when the President is absent.

Article 17. The General Secretary of the Association:

- Shall directly manage all activities of the Association's Office;

- Shall draft the Operating Regulations of the Office, Financial Management Regulations, and Property Management Regulations of the Association for approval by the Executive Board;

- Shall regularly report to the Standing Board and the Executive Board on the activities of the Association;

- Shall prepare annual reports and term reports of the Executive Board;

- Shall manage lists, files, and documents related to members and affiliated organizations;

- Shall be responsible before the Executive Board and the law for the activities of the Association's Office.

Article 18. The Association's Office.

1. The Association's Office shall be organized and operate according to the Regulations submitted by the General Secretary for approval by the Executive Board;

2. Staff of the Association's Office shall be recruited and work under fixed-term contracts;

3. The operating budget of the Office shall be prepared by the General Secretary and submitted for approval by the Executive Board.

Article 19. Supervisory Board.

1. The Supervisory Board shall be directly elected by the General Assembly of the Association. The number of Supervisory Board members shall be decided by the General Assembly.

2. The Inspection Board shall operate according to the regulations adopted by the General Assembly.

Chapter 5.

FINANCE AND ASSETS OF THE ASSOCIATION

Article 20. Sources of Finance of the Association.

The Association shall generate financial resources through the following forms:

1. Membership fees and annual dues. The amount of dues shall be determined by the Association's General Assembly and paid in two installments at the end of the second and fourth quarters each year;

2. Revenue from advisory, information, training, and other services within the scope of the Association's operations as prescribed by Law;

3. Donations and sponsorships from domestic and foreign organizations and individuals in accordance with the provisions of Law;

4. Other lawful income.

Article 21. Expenditures of the Association.

1. Regular expenditures for the Association's activities;

2. Expenditures for constructing physical facilities, equipping the office, and transportation means for the Association's operations;

3. Salaries and allowances for staff of the Association's Office;

4. Social insurance and health insurance expenditures for staff of the Association's Office;

5. Awards for staff, members, and collaborators who have contributed to the Association's activities.

Article 22. Financial and Asset Management of the Association.

- The fiscal year of the Association begins on January 1st and ends on December 31st each year;

- Annual revenue and expenditure plans shall be drafted by the Association's General Secretary, approved, and reported to the Executive Board for decision;

- The Association's finances shall be managed in accordance with the State's financial regulations;

- The Association's assets shall be managed in accordance with State regulations. Management methods shall be decided by the Association's Chairman in compliance with State regulations. In the event of the Association's dissolution, all of its assets will be inventoried, re-evaluated, and disposed of in accordance with the provisions of Law.

Article 23. Management and Use of Finances and Assets.

1. The Executive Board shall stipulate the management and use of the Association's finances and assets in accordance with State regulations.

2. The Supervisory Board is responsible for auditing and reporting annual financial statements and assets publicly to members.

Chapter 6.

REWARD AND DISCIPLINE

Article 24. Awards.

Members, Executive Board members, Standing Board members, Supervisory Board members, and Association staff who have achieved significant results with high efficiency, demonstrated a sense of responsibility, and actively supported other members shall be appropriately rewarded by the Association and may be recommended for awards by State agencies.

Article 25. Disciplinary Measures.

Any member who acts contrary to the Charter, Resolutions of the Association, damages the reputation and honor of the Association, misses regular activities multiple times without valid reasons, or fails to pay membership fees for one year shall be criticized or removed from the list of members depending on the severity of the violation.

Chapter 7.

IMPLEMENTING PROVISIONS

Article 26. Any amendment or supplement to the Charter must be proposed and agreed upon by the General Assembly of the Vietnam Real Estate Association and approved by the competent state authority before it becomes effective.

Article 27. This Charter was adopted by the founding assembly of the Vietnam Real Estate Association on September 12, 2002, and took effect from the date it was approved by the Ministry of Home Affairs./.