Decree No. 12/2021/ND-CP amending and supplementing certain articles of Decree No. 89/2013/ND-CP dated August 6, 2013 of the Government detailing the implementation of certain provisions of the Price Law on valuation.

DECREE

Amending and supplementing certain Articles of Decree No. 89/2013/NĐ-CP dated August 6, 2013 of the Government detailing the implementation of certain provisions of the Law on Prices regarding price appraisal

On the basis of Law on Government Organization dated June 19, 2015; Law amending and supplementing certain provisions of the Law on the Organization of the Government and the Law on the Organization of Local Administration dated November 22, 2019;

On the basis of Law on Prices dated June 20, 2012;

On the basis of Investment Law dated November 26, 2014;

At the proposal of the Minister of Finance;

The Government promulgates this Decree to amend and supplement certain Articles of Decree No. 89/2013/NĐ-CP dated August 6, 2013 of the Government detailing the implementation of certain provisions of the Law on Prices regarding price appraisal.

Article 1. Amending and supplementing certain Articles of Decree No. 89/2013/NĐ-CP dated August 6, 2013 of the Government detailing the implementation of certain provisions of Law on Prices regarding price appraisal as follows:

1. Adding Article 7a after Article 7 of Decree No. 89/2013/NĐ-CP as follows:

"Article 7a. Obligation to sign Price Appraisal Report and Price Appraisal Certificate of price appraisers practicing

1. Price appraisers practicing, except for price appraisers practicing who are the legal representatives of enterprises, must sign at least ten copies of Price Appraisal Certificates and Price Appraisal Reports during the year announced for practice.

2. By December 15 of the year of practice, if a price appraiser has practiced for six months or more but does not sign ten copies of Price Appraisal Certificates and Price Appraisal Reports during the year, they shall not be allowed to register for practice in the following year."

2. Adding Article 8a after Article 8 of Decree No. 89/2013/NĐ-CP as follows:

"Article 8a. Requirements for the legal representative, Director or General Director of a price appraisal enterprise

1. Must be a registered practicing price appraiser at the enterprise in accordance with point c Clause 1 or point c Clause 2 or point c Clause 3 or point c Clause 4 or point c Clause 5 of Article 39 of the Law on Prices.

2. Must have at least three years (36 months) of experience as a practicing price appraiser before becoming the legal representative, Director or General Director of a price appraisal enterprise.

3. Shall not be the legal representative, Director or General Director of a price appraisal enterprise that has had its Business Registration Certificate for price appraisal services revoked within one year (12 months) prior to the date of submitting the application for issuance or reissuance of the Business Registration Certificate for price appraisal services."

3. Amending and supplementing Clause 7 of Article 10 of Decree No. 89/2013/NĐ-CP as follows:

"7. A price appraisal enterprise that is currently suspended from or temporarily halted from conducting price appraisal activities. During the period when a price appraisal enterprise fails to meet one of the conditions corresponding to the type of enterprise stipulated in Clauses 1, 2, 3, 4, and 5 of Article 39 of the Law on Prices but has not been suspended from conducting price appraisal activities, it shall not enter into contracts for price appraisal services."

4. Amending and supplementing Clause 1 of Article 11 of Decree No. 89/2013/NĐ-CP as follows:

"1. The price of price appraisal services shall be implemented according to the agreement between the price appraisal enterprise and the client in accordance with Clauses 2 and 3 of this Article on the principle of ensuring reasonable compensation for actual production and business costs, with appropriate profit in line with market prices, and recorded in the price appraisal contract; in cases where the selection of consulting price appraisal service contractors falls within the scope regulated by the Law on Bidding, it shall be carried out in accordance with the relevant laws on bidding."

5. Adding Article 12a after Article 12 of Decree No. 89/2013/NĐ-CP as follows:

"Article 12a. Resolution of disputes over the results of price appraisal between price appraisal enterprises and clients

When disputes arise over the results of price appraisal between a price appraisal enterprise and a client, the resolution of disputes shall be carried out through the following methods:

1. Negotiation and mediation based on commitments recorded in the price appraisal contract.

2. Resolution through commercial arbitration.

3. Initiation of litigation at the court in accordance with the law."

6. Adding Article 12b after Article 12 of Decree No. 89/2013/NĐ-CP as follows:

"Article 12b. Connecting national price database

1. The Ministry of Finance shall be responsible for building, managing, and operating the national price database and facilitating price appraisal enterprises to connect their own databases with the national price database.

2. Price appraisal enterprises shall be responsible for connecting their own databases with the national price database."

7. Amending and supplementing point a, d and e Clause 1, point a and c Clause 2 of Article 14 of Decree No. 89/2013/NĐ-CP as follows:

"1.

a) Application for issuance or reissuance of the Business Registration Certificate for price appraisal services in accordance with the form prescribed by the Ministry of Finance;

d) List confirming the capital contribution of members in cases where there is no information about the list of members contributing capital or shareholders listed on the Enterprise Registration Certificate;

e) Receipt of fees for issuing the Business Registration Certificate for price appraisal services;"

“2.

a) Application for issuance or reissuance of the Business Registration Certificate for price appraisal services in accordance with the form prescribed by the Ministry of Finance;

c) Receipt of fees for issuing the Business Registration Certificate for price appraisal services;"

8. Amending and supplementing Article 15 of Decree No. 89/2013/NĐ-CP as follows:

"Article 15. Time limit for issuance and reissuance of the Business Registration Certificate for price appraisal services

1. Within fifteen (15) working days from the date of receipt of one (1) set of documents prepared by the enterprise in accordance with Clause 1 and Clause 2 of Article 14 of this Decree, the Ministry of Finance shall issue or reissue the Business Registration Certificate for price appraisal services to the price appraisal enterprise.

2. In case of refusal to issue or reissue the Business Registration Certificate for price appraisal services, the Ministry of Finance shall notify the enterprise applying for issuance or reissuance of the Business Registration Certificate for price appraisal services in writing and specify the reasons within five (5) working days from the date of receipt of the application."

9. Amending and supplementing point d, adding point g Clause 1 of Article 17 of Decree No. 89/2013/NĐ-CP as follows:

“d) A business is dissolved, bankrupted, suspended from operating according to the provisions of the Enterprise Law, the Bankruptcy Law; voluntarily ceases to operate appraisal services; changes shareholders or capital contributors who are appraisers practicing at the business;

g) Has an appraiser practicing at the business: is prohibited from practicing appraisal services according to a court judgment or decision that has taken legal effect; is criminally prosecuted; is sentenced to one of the economic or official crimes related to finance, price, appraisal, subject to administrative educational measures in a commune, ward, town, compulsory drug rehabilitation facility, compulsory educational facility; is sentenced for serious or more severe economic crimes; engages in violations of financial laws subject to administrative penalties.”

10. Supplement Clause 3 of Article 27 of Decree No. 89/2013/ND-CP as follows:

“3. The competent authority for asset appraisal or the agency responsible for establishing the Appraisal Committee shall be responsible for sending one copy of the Appraisal Report or the Asset Appraisal Conclusion through official correspondence, fax, or electronic reporting system to the Ministry of Finance to build a database for providing information and state management of asset appraisal, except for assets listed in the State secrets asset directory.”

Article 2. Transitional Provisions

1. Appraisal businesses that have submitted complete application files for a Business Registration Certificate for appraisal services before this Decree takes effect shall be considered for issuance of a Business Registration Certificate for appraisal services according to the provisions of Decree No. 89/2013/ND-CP dated August 6, 2013 of the Government.

2. By December 31, 2021, appraisal businesses that have been issued a Business Registration Certificate for appraisal services according to the provisions of Decree No. 89/2013/ND-CP dated August 6, 2013 of the Government must ensure the conditions for the legal representative, Director, or General Director as stipulated in Article 1 of this Decree.

Article 3. Implementation Provisions

1. This Decree takes effect from May 1, 2021.

2. Ministers, Heads of ministerial-level agencies, Heads of governmental agencies, Chairmen of People's Committees of provinces and centrally governed cities are responsible for implementing this Decree.