Circular No. 20/2024/TT-BTP stipulates the mechanism and policies on the price of auction service for assets that must be sold through auctions as prescribed by law; costs for publishing notices to select auction service organizations; costs for publicly announcing the auction on the National Auction Portal; and costs for using the National Auction Portal to conduct online auctions.

CIRCULAR

Regulations on mechanisms and policies regarding the price of auction services for assets that must be sold through auctions as prescribed by law; costs for publishing notices to select auction service organizations and costs for publicly announcing the auctionon the National Auction Asset Portal, costs for using the National Auction Portalfor asset auctions conducted online

WHEREAS pursuant to the Auction Law dated November 17, 2016; the Law Amending and Supplementing Certain Provisions of the Auction Law dated June 27, 2024 June 19,;

On the basis of Law on Prices Based on Decree No. 120/2020/NĐ-CP dated October 7, 2020 of the Government on the establishment, restructuring, and dissolution of public service units amended and supplemented by Decree No. 83/2024/NĐ-CP dated July 10, 2024 of the Government amending and supplementing certain provisions of Decree No. 123/2016/NĐ-CP dated September 1, 2016 of the Government on the functions, tasks, powers, and organizational structure of Ministries and ministerial-level agencies which have been amended and supplemented by Decree No. 101/2020/NĐ-CP dated August 28, 2020 of the Government; Decree No. 10/2016/NĐ-CP dated February 1, 2016 of the Government on agencies under the Government which have been amended and supplemented by Decree No. 47/2019/NĐ-CP dated June 5, 2019 of the Government and Decree No. 120/2020/NĐ-CP dated October 7, 2020 of the Government on the establishment, restructuring, and dissolution of public service units; 2023;

29th

Decree No. 98/2022/NĐ-CP dated of the Government on the functions, 11 year 2022 tasks, powers, and organizational structure of the Ministry of Justice;Legal Aid

"a) State agencies, organizations, and individuals owning power plants operating within the territory of the Socialist Republic of Vietnam connected to the national power grid, except strategic multi-purpose hydropower plants, small renewable energy power plants applying the avoided cost tariff, power plants and units providing ancillary services, independently invested energy storage systems, and power plants applying the electricity purchase price mechanism as stipulated in relevant authorized documents;" The Minister of Justice issues this Circular to regulate mechanisms and policies regarding the price of auction services for assets that must be sold through auctions as prescribed by law; costs for publishing notices to select auction service organizations, costs for publicly announcing the auction on the National Auction Asset Portal, costs for using the National Auction Portal for asset auctions conducted online,

Article 1. This Circular regulates mechanisms and policies regarding the price of auction services for assets that must be sold through auctions as prescribed by Article 66(1) of the Auction Law amended and supplemented by point a of Article 73(10) of the Price Law 2023 and point b of Article 1(45) of the Law Amending and Supplementing Certain Provisions of the Auction Law..

PART I

GENERAL PROVISIONS

Article 1. Scope of Regulation

Article 2. The collection, payment, management, and use of costs for publishing notices to select auction service organizations, costs for publicly announcing the auction on the National Auction Asset Portal, costs for using the National Auction Portal for asset auctions conducted online (hereinafter referred to as costs for publishing notices to select, costs for publicly announcing the auction, costs for using the National Auction Asset Portal) shall be regulated by the Auction Law and the Law Amending and Supplementing Certain Provisions of the Auction Law.

Article 3. Individuals or entities with assets subject to auction as stipulated in Article 5(5) of the Auction Law when organizing asset auctions as stipulated in Article 4(1) of the Auction Law amended and supplemented by Article 1(2) of the Law Amending and Supplementing Certain Provisions of the Auction Law.

Article 2. Applicability

The objects subject to this Circular include:

Article 4. Organizations conducting auction services as stipulated in Article 5(12) of the Auction Law, organizations wholly owned by the State established by the State Bank of Vietnam to handle non-performing loans of credit institutions, and the Auction Asset Council in cases where the auction is conducted by the Auction Asset Council.

Article 5. Other related organizations and individuals.

MECHANISMS AND POLICIES REGARDING THE PRICE OF AUCTION SERVICES FOR ASSETS THAT MUST BE SOLD THROUGH AUCTIONS AS PRESCRIBED BY LAW

Chapter II

MECHANISMS AND POLICIES ON THE PRICES OF AUCTION SERVICES FOR ASSETS THAT MUST BE SOLD THROUGH AUCTIONS ACCORDING TO THE LAWS PROVIDED FOR BY LAW

Article 3. Mechanism and policies on the service fee for auctioning assets that must be sold through auction as prescribed by law

1. The service fee for auctioning assets that must be sold through auction (hereinafter referred to as the service fee for auctioning assets) shall be calculated based on each successful auction corresponding to each asset value range according to the initial price set within the service fee auction value range prescribed by law for assets that must be sold through auction, issued by the Minister of Justice.

In cases where the provisions of Article 56 of the Auction Law amended and supplemented under Clause 36, Points a, b, e, i Clause 45, Point h Clause 46 Article 1 of the Law amending and supplementing certain articles of the Auction Law apply to auctioned assets and specify the determination of the service fee for auctioning such assets, then the service fee for auctioning assets shall be implemented in accordance with the applicable laws for such auctioned assets.

2. In cases where the auction is successful but the winning bidder does not pay the full amount or pays insufficiently, leading to the cancellation of the decision recognizing the auction result or the asset purchase contract, the owner of the auctioned asset shall pay the auction organization the auction costs as stipulated in Clause 2 Article 66 of the Auction Law amended and supplemented under Point b Clause 45 Article 1 of the Law amending and supplementing certain articles of the Auction Law, which have been agreed upon in the auction service contract, corresponding to each asset value range according to the initial price set within the service fee auction value range prescribed by law for assets that must be sold through auction issued by the Minister of Justice, but not exceeding the deposit paid by the winning bidder.

3. The service fee for auctioning assets specified in Clause 1 of this Article does not include: value-added tax and auction costs as stipulated in Clause 2 Article 66 of the Auction Law amended and supplemented under Point b Clause 45 Article 1 of the Law amending and supplementing certain articles of the Auction Law.

4. In cases where the auction is unsuccessful, the owner of the auctioned asset shall pay the auction organization the auction costs as stipulated in Clause 2 Article 66 of the Auction Law amended and supplemented under Point b Clause 45 Article 1 of the Law amending and supplementing certain articles of the Auction Law, which have been agreed upon in the auction service contract.

5. Within twenty days from the end date of the auction, the owner of the auctioned asset shall pay the auction organization the service fee for auctioning assets and the auction costs as stipulated in Clause 2 Article 66 of the Auction Law amended and supplemented under Point b Clause 45 Article 1 of the Law amending and supplementing certain articles of the Auction Law, except in cases where the parties have agreed otherwise or there are other legal provisions.

Article 4. Management and use of the service fee for auctioning assets

1. The auction organizations must publicly display the service fee for auctioning assets at their headquarters; comply with the legal regulations on pricing, auction laws, and related legal documents.

2. The auction organizations must use invoices for service provision in accordance with the legal regulations on invoices and certificates.

Chapter III

COSTS FOR ANNOUNCING THE SELECTION OF AUCTION PRACTITIONER ORGANIZATIONS, COSTS FOR PUBLIC ANNOUNCEMENT OF THE AUCTION ON THE NATIONAL AUCTION PORTAL, AND COSTS FOR USING THE NATIONAL AUCTION PORTAL TO CONDUCT ONLINE AUCTIONS

Article 5. Principles for collection and expenditure of fees for posting notices to select auction service organizations, public announcement fees for auctions, and fees for using the National Auction Portal to conduct online auctions.

1. The organization operating the National Auction Portal shall be responsible for collecting, managing, and utilizing the fees for posting selection notices, public announcement fees for auctions, and fees for using the National Auction Portal in accordance with the provisions of this Circular.

2. The fees for posting selection notices, public announcement fees for auctions, and fees for using the National Auction Portal to serve the activities of the organization operating the National Auction Portal shall be governed by the laws on public service units.

Article 6. Levels of fees for posting notices to select auction service organizations, public announcement fees for auctions on the National Auction Portal, and fees for using the National Auction Portal to conduct online auctions.

1. The fee for posting a notice to select an auction service organization is 300,000 VND per notice (Three hundred thousand VND per notice). One notice includes both the notice to select an auction service organization and the notice of the result of selecting an auction service organization.

2. The fee for posting a public announcement of an auction on the National Auction Portal is 300,000 VND per notice (Three hundred thousand VND per notice). One notice includes the first and second announcements on the National Auction Portal as stipulated in Clause 1, Article 57 of the Auction Law amended and supplemented by Point a, Clause 37, Article 1 of the Law Amending and Supplementing Certain Provisions of the Auction Law.

In case an auction service organization posts a public announcement once on the National Auction Portal as stipulated in Clause 2, Article 57 of the Auction Law amended and supplemented by Point b, Clause 37, Article 1 of the Law Amending and Supplementing Certain Provisions of the Auction Law, the fee is 150,000 VND per notice (One hundred fifty thousand VND per notice).

3. The fee for using the National Auction Portal to conduct an online auction is 2,000,000 VND per auction (Two million VND per auction).

If there is no registration for participation in the auction on the National Auction Portal, the fee for using the National Auction Portal is 1,000,000 VND per auction (One million VND per auction).

The fees specified in Clauses 1, 2, and 3 of this Article shall be paid by the agency, organization, or individual posting the notice to select an auction service organization, the public announcement of the auction on the National Auction Portal, and the use of the National Auction Portal to conduct an online auction, and they include value-added tax.

Article 7. Organization of Collection and Payment of Fees for Posting Notices to Select Auction Service Organizations, Public Announcement Fees for Auctions on the National Auction Portal, and Fees for Using the National Auction Portal to Conduct Online Auctions.

1. The organization operating the National Auction Portal shall be responsible for collecting the fees for posting selection notices, public announcement fees for auctions, and fees for using the National Auction Portal as stipulated in Article 6 of this Circular. The revenue account of the organization operating the National Auction Portal is a Vietnamese dong account opened at a commercial bank.

2. The payment of fees for posting selection notices, public announcement fees for auctions, and fees for using the National Auction Portal shall be carried out as follows:

a) Agencies, organizations, and individuals shall pay the fee for posting a notice to select an auction service organization on the National Auction Portal as stipulated in Clause 1, Article 6 of this Circular within a maximum period of ten days from the date the information is posted legally on the National Auction Portal;

b) Auction service organizations, organizations wholly owned by the State established by the State Bank of Vietnam to handle non-performing loans of credit institutions, and the Auction Council shall pay the fee for posting a public announcement of an auction on the National Auction Portal as stipulated in Clause 2, Article 6 of this Circular within a maximum period of seven days from the date the information is posted legally on the National Auction Portal;

c) Auction service organizations, organizations wholly owned by the State established by the State Bank of Vietnam to handle non-performing loans of credit institutions, and the Auction Council shall pay the fee for using the National Auction Portal to conduct an online auction as stipulated in Clause 3, Article 6 of this Circular within a maximum period of twenty days from the end of the auction.

3. Auction service organizations, organizations wholly owned by the State established by the State Bank of Vietnam to handle non-performing loans of credit institutions, and the Auction Council as stipulated in Point c, Clause 2 of this Article shall agree with the organization operating the National Auction Portal on the self-liquidation of the contract for using the National Auction Portal after fulfilling their financial obligations.

4. Upon expiration of the time limit stipulated in Clause 2 of this Article, if agencies, organizations, or individuals fail to pay the fees, the accounts for posting notices to select auction service organizations, public announcements of auctions on the National Auction Portal, and using the auction portal to conduct online auctions of those agencies, organizations, or individuals will be transferred to a suspended operation status until they fulfill their financial obligations as prescribed.

Article 8. Management and use of revenue from expenses for posting notices to select auction service providers, public announcement expenses for auctions on the National Auction Property Portal, and expenses for using the National Auction Property Portal to conduct online auctions.

1. Content of expenditure:

a) Managing, maintaining, operating, and developing the National Auction Property Portal;

b) Managing and supervising the posting of notices to select auction service providers, public announcements of auctions on the National Auction Property Portal, and using the National Auction Property Portal to conduct online auctions;

c) Activities related to guiding and using the National Auction Property Portal;

d) Activities related to receiving, processing information posted on the National Auction Property Portal, conducting online auctions, applying information technology in property auction work, managing data on auction officers and auction service providers;

đ) Other regular expenditure tasks related to organizing management, maintenance, operation, and development of the National Auction Property Portal;

e) Other expenditures as prescribed by laws on public service units.

2. The distribution of financial results and the establishment of funds shall be carried out according to the self-management mechanism in accordance with current laws.

3. The organization operating the National Auction Property Portal shall implement accounting and financial systems in accordance with laws on state budget and relevant laws.

Article 9. Responsibilities of the Bureau of Judicial Assistance, the organization operating the National Auction Property Portal, and related agencies, organizations, and individuals

1. The Bureau of Judicial Assistance shall be responsible for:

a) Monitoring, supervising, and managing the performance of functions and tasks of the organization operating the National Auction Property Portal;

b) Compiling annual revenue and expenditure plans of the organization operating the National Auction Property Portal and submitting them to the Minister of Justice for approval in accordance with regulations;

c) Adjusting the revenue and expenditure plans of the organization operating the National Auction Property Portal in accordance with regulations;

d) Settling revenues and expenditures of the organization operating the National Auction Property Portal in accordance with regulations.

2. The organization operating the National Auction Property Portal shall be responsible for:

a) Publicly announcing on the National Auction Property Portal the procedures for collecting fees for posting selection notices, public announcement fees for auctions, and portal usage fees including methods, modes, targets, and rates;

b) Organizing the collection of fees for posting selection notices, public announcement fees for auctions, and portal usage fees;

c) Managing and using revenues in accordance with Article 8 of this Circular.

3. Agencies, organizations, and individuals posting notices to select auction service providers, publicly announcing auctions on the National Auction Property Portal, and using the National Auction Property Portal to conduct online auctions shall be responsible for:

a) Paying fees as prescribed in Article 6 and Clause 2 of Article 7 of this Circular;

b) Complying with the operational rules of the National Auction Property Portal and relevant laws.

Chapter IV

IMPLEMENTING PROVISIONS

Article 10. Transitional Provisions

1. During the period when the organization operating the National Auction Property Portal has not been established, persons with auctioned assets, auction service providers, organizations wholly owned by the State capital established by the State Bank of Vietnam to handle non-performing loans of credit institutions, and the Asset Auction Council shall not have to pay fees for posting selection notices for auction service providers and public announcement fees for auctions on the National Auction Property Portal.

2. In cases where persons with auctioned assets and auction service providers have signed service auction contracts before the effective date of this Circular, the mechanisms, policies, and determination of service auction prices shall continue to be implemented in accordance with Circular No. 45/2017/TT-BTC dated May 12, 2017, issued by the Minister of Finance, which stipulates the framework for service auction fees under the Auction Law, amended and supplemented by Circular No. 108/2020/TT-BTC dated December 21, 2020, issued by the Minister of Finance, amending and supplementing certain provisions of Circular No. 45/2017/TT-BTC dated May 12, 2017, issued by the Minister of Finance, stipulating the framework for service auction fees under the Auction Law.

Article 11. Implementation Organization

1. This Circular shall take effect from January 1, 2025.

2. During the implementation process, if there are any difficulties, organizations and individuals are requested to promptly report to the Ministry of Justice for consideration and guidance./.