Circular No. 25/2011/TT-BTC on Auctioning State Reserve Commodities for Sale

CIRCULAR

Provisions on Auctioning State Reserve Commodities for Sale

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Pursuant to the National Reserve Law No. 17/2004/PL-UBTVQH11 dated April 29, 2004 of the Standing Committee of the National Assembly;

Pursuant to the Decree No. 17/2010/NĐ-CP dated March 4, 2010 of the Government on Auctioning State Assets;

Pursuant to the Decree No. 118/2008/NĐ-CP dated November 27, 2008 of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Finance;

The Ministry of Finance stipulates provisions on auctioning State Reserve Commodities for Sale as follows:

PART I

GENERAL PROVISIONS

Article 1. Scope of Regulation

This Circular stipulates the auctioning of State Reserve Commodities for Sale, which include types of materials; raw materials; machinery; equipment; State Reserve Means that are permitted to be sold off or exchanged in rotation.

Article 2. Applicability

1. Ministries, sectors directly managing State Reserve Commodities; the National Reserve General Department; agencies, organizations, units entrusted with the task of selling State Reserve Commodities.

2. Organizations and individuals related to the auctioning of State Reserve Commodities for Sale.

Article 3. Explanation of Terms

In this Circular, the following terms are understood as follows:

1. Unit selling State Reserve Commodities winning price is the State Reserve Regional Bureau; agency, organization, unit entrusted with the task of selling State Reserve Commodities (hereinafter referred to as the selling unit).

2. State Reserve Commodity Auction Asset Unit is the quantity, volume of State Reserve Commodities for sale under the same category, type, specification, code.

A State Reserve Commodity Auction Asset Unit must be at least the quantity, volume of a lot, warehouse compartment, or a complete, integrated product.

Chapter II

SPECIFIC PROVISIONS

Article 4. Authority and Responsibilities in Auctioning State Reserve Commodities for Sale

1. The Minister of Finance sets the minimum selling price for State Reserve Commodities.

2. Heads of Ministries, Sectors directly managing State Reserve Commodities

a) Decide to entrust tasks to agencies, organizations, units under their management to sell State Reserve Commodities;

b) Decide the starting price of the auction asset unit; approve the auction plan;

c) Decide to establish the State Reserve Commodity Auction Council of agencies, organizations, units under their management (referred to as the Auction Council) in cases where a professional auction organization cannot be hired to conduct the auction of State Reserve Commodities;

d) Resolve complaints and suggestions in the auctioning of State Reserve Commodities for Sale.

3. Director of the National Reserve General Department

a) Decide to entrust tasks to State Reserve Regional Bureaus to sell State Reserve Commodities;

b) Decide the starting price of the auction asset unit; approve the auction plan;

c) Decide to establish the State Reserve Commodity Auction Council of State Reserve Regional Bureaus (referred to as the Auction Council) in cases where a professional auction organization cannot be hired to conduct the auction of State Reserve Commodities;

d) Resolve complaints and suggestions in the auctioning of State Reserve Commodities for Sale.

4. Head of the selling unit

a) Select Price Appraisal Organization, Professional Auction Organization;

b) Submit to the authorized person to establish the Auction Council;

c) Resolve complaints and suggestions in the auctioning of State Reserve Commodities for Sale.

Article 5. Auction Organization State Reserve Commodities 1. Establishment of national railway infrastructure maintenance plans:

1. Selection of Professional Auction Organization

a) The selling unit must publicly announce through central or local mass media the selection of a professional auction organization in accordance with the legal regulations on auctioning state assets.

The maximum time for selecting a professional auction organization is 10 (ten) days from the date of announcement.

b) The auction contract for State Reserve Commodities is signed between the selling unit and the selected professional auction organization.

The contents of the auction contract for State Reserve Commodities are implemented according to Clause 2, Article 25 of the Decree No. 17/2010/NĐ-CP dated March 4, 2010 of the Government on Auctioning State Assets (referred to as the Decree No. 17/2010/NĐ-CP of the Government).

2. Establishment of the Auction Council

a) In case there is no professional auction organization registering to participate or bidding after the public announcement period has expired, or no professional auction organization winning the bid, then the head of the selling unit submits to the authorized person as stipulated in this Circular to establish the Auction Council;

b) Members of the Auction Council include:

- Representative of the authority deciding to auction State Reserve Commodities;

repurchase rate and volume for each commercial bank are determined as follows:representative financial agency, judicial agency at the same level;

repurchase rate and volume for each commercial bank are determined as follows:representative of the relevant business departments related to đFire doors selling;

The head of the selling unit serves Chairman of the board, manages the auction process and signs the Minutes of the Auction of State Reserve Commodities.

specialized agency under the People's Committee of the province/city.) Rights and Obligations of the Auction Council.

Rights and Obligations of the Auction Council a) Report to the Ministry of Natural Resources and Environment on the results of training and upgrading, including listing the teaching staff participating in teaching, evaluating the participation of trainees in the training process, the results of organizing examinations for completing the training and upgrading program on land valuation business, the issuance of Certificates and the use of Certificate codes, summarizing the feedback from trainees on the quality of the training and upgrading program on land valuation business, and other relevant matters. as stipulated in Article 21 of the Decree No. 17/2010/NĐ-CP of the Government.

Article 6. Kplan sale State Reserve Commodities 1. Establishment of national railway infrastructure maintenance plans:

1. Basis for establishing the plan for selling through public auction

a) The target set by the competent authority for the sale of goods;

b) The decision of the competent authority regarding the assignment of tasks to sell national reserve goods (list, type, specifications, quantity, volume);

c) The auction sale plan established for the entire quantity and volume of national reserve goods to be sold in the planning year or according to each decision assigning tasks by the competent authority.

2. Contents of the plan sale winning price including:

a) Catalogue, specifications; code; quantity send a text message volume; quantity unit of property to be sold through public auction;

b) Initial price of 每个 unit of property to be sold through public auction (with supporting documents for building the price attached);

c) Deposit amount of 每个 unit of property to be sold through public auction;

d) Duration to organize the sale auction of each unit of property to be sold through public auction;

đ) Time limit, method, and form of payment;

e) Location, time limit, and method of delivery;

g) Other related issues (if applicable).

3. The auction sale plan must be approved in writing by the competent authority specified in Article 4 of this Circular.

Article 7. Principles for determining theinitial price of units of national reserve goods in the auction sale plan

1. The selling entity establishes a pricing scheme in accordance with current regulations, which is submitted to the relevant ministry or agency for review and consolidation, and then sent to the Price Management Agency for appraisal and submission to the Minister of Finance for determination of the minimum selling price.

For categories of national reserve goods that must undergo price appraisal by an organization authorized to conduct such appraisals under the law, such appraisals must be carried out.

2. Supervising organizations practicing notarizationinitial price of national reserve goods to be sold through public auction shall be determined in accordance with the type and category of goods; quality; market price of similar goods at the time of price determination but shall not be lower than the minimum selling price prescribed by the Minister of Finance.

3. In cases where the auction sale involves multiple rounds, the initial price for the subsequent round shall be determined based on the highest bid price paid (not lower than the initial price of that round) plus an additional price step. The price step is specifically defined by the professional auction organization or the auction committee for each auction sale.

4. Tat least 3 (three) days before the date of organizing the auction sale, ifthe market price fluctuates, it is necessary to change the initial price, then đFire doors the seller must ||| reports the competent authority specified in Article 4 of this Circular examine and decide.

Article 8. Registration to participate in the auction of national reserve goods

1. Organizations and individuals meeting the conditions to participate in the auction as stipulated in Clause 7, Article 2 of Government Decree No. 17/2010/NĐ-CP (hereinafter referred to as the bidder) must submission auction participation fees in accordance with the law on fees and charges and a deposit amount equal to 7% of the initial price of one unit of property to be sold through public auction (without interest during the deposit period) to the professional auction organization or the auction committee before the date of conducting the auction sale.

If the bidder registers to participate in the auction of multiple units of national reserve goods to be sold through public auction, the deposit amount must be paid as the total amount of deposits for the units of property as prescribed.

2. The deposit amount of the bidder participating in the auction shall be handled as follows:

- In case the bidder who participates in the auction successfully purchases the national reserve goods to be sold through public auction, the deposit amount will be deducted from the purchase price; if the bidder does not purchase the national reserve goods, the deposit amount will be refunded to the bidder immediately after the conclusion of the auction sale;

- In case the bidder has paid the deposit but does not participate in the auction sale without being in a force majeure situation; at the auction sale of national reserve goods, if the bidder who has made the highest bid withdraws the bid before the auctioneer or the auction sale manager announces the buyer of the national reserve goods to be sold through public auction, the deposit amount belongs to the auction organization;

- In case at the auction sale, when the auctioneer or the auction sale manager has announced the buyer of the national reserve goods to be sold through public auction, if the buyer refuses to buy, the deposit amount of the refusing buyer belongs to the owner of the auctioned property and is used to offset the costs of the auction sale of national reserve goods.

Article 9. Contract for the sale of national reserve goods through auction

1. In case the auction is successful, the buyer who acquires the auctioned asset must conclude a contract for the sale of national reserve goods through auction with the selling unit.

The time limit for concluding the contract shall be agreed upon by the parties, but shall not exceed five (5) working days from the date of the end of the auction.

If the buyer who acquired the auctioned asset does not conclude the contract for the sale of national reserve goods, does not provide security for the performance of the contract, or concludes the contract but does not pay the full purchase price within the prescribed period, it shall be deemed as refusal to purchase the goods.

2. The contract for the sale of national reserve goods shall include the following main contents:

a) Name and address of the organization or unit conducting the auction of national reserve goods;

b) Name of the auctioneer managing the auction of national reserve goods;

c) Name and address of the selling unit;

d) Name, address, and transaction account of the organization or unit; name, address, and identification number of the individual who acquired the national reserve goods through auction;

đ) Time and location of the auction of national reserve goods;

e) List, specifications, quantity, and volume of national reserve goods being auctioned;

g) Starting price of the national reserve goods being auctioned;

h) Selling price of the national reserve goods;

i) Time limit, method, and location for payment of the purchase price of the national reserve goods being auctioned.

- Payment deadline: within three (3) working days from the date the contract for the sale of national reserve goods is concluded;

- Method of payment: in cash or by bank transfer;

- Location for payment: the deposit account of the selling unit of national reserve goods;

k) Time limit and location for delivery and receipt of the national reserve goods being auctioned.

- Delivery and receipt deadline: not exceeding fifteen (15) working days from the date the buyer has paid the full purchase price; - Location for delivery and receipt: on the transportation means of the buyer at the storage facility entrance of the selling unit.

l) Liability for breach of obligations by the parties.

3. Liquidation of the contract: within a time limit not exceeding five (5) working days from the date both parties complete the delivery and receipt of goods.

Article 10. Fees and Costs in Auctioning National Reserve Goods

1. Contents of auction sales costs, including: fees for hiring valuation services (if any); costs for hiring a professional auction sales organization; costs for notification, posting, documentation of goods, and organizing the auction by the auction committee; other related costs.

2. Sources of funds for implementing the auction sales of national reserve goods, including: budget allocated for national reserve management work assigned annually; auction registration fees paid by participants.

In cases where the annual budget has not been allocated (or has been allocated but is insufficient compared to the initial budget), the selling unit shall prepare a budget for auction sales of national reserve goods, submit it for review and consolidation by the directly managing ministry or agency, then send it to the State Reserves Administration for examination and approval by the Ministry of Finance.

3. The level of auction fees, payment, management, and use shall be implemented according to the current regulations of the Ministry of Finance.

4. Payment of auction costs must be supported by complete vouchers and invoices in accordance with the current regulations.

The payment of auction fees must be supported by complete receipts and invoices in accordance with the current regulations.

Article 11. Documents for Exporting Goods

1. The record of the public auction sale of national reserve goods.

2. Purchase and sale contracts for national reserve goods.

3. Payment receipts indicating full payment for the goods.

4. Sales invoices for national reserve goods (specifying the item list, specifications, quantity, unit price, and total amount).

5. Warehouse dispatch slips.

6. Technical documents and files accompanying (if any).

Article 12. Inspection of Public Auction Sales of National Reserve Goods

1. Inspections of public auction sales of national reserve goods shall be conducted regularly according to plans or at random pursuant to the decision of the competent authority.

2. The Ministry of Finance (State Reserve General Department) shall take the lead in coordinating with ministries, sectors directly managing national reserve goods, and related units to organize inspections of public auction sales of national reserve goods.

Chapter III

IMPLEMENTATION

Article 13. Responsibility for Implementation

1. Heads of ministries and sectors directly managing national reserve goods shall be responsible for guiding and directing; inspecting and supervising subordinate units to implement public auction sales of national reserve goods in accordance with Decree No. 17/2010/NĐ-CP of the Government and this Circular.

2. Units and individuals involved in public auction sales of national reserve goods shall be responsible for implementing this Circular.

3. In cases where the organization of public auction sales of national reserve goods fails to achieve results for two consecutive times, the head of the ministry or sector directly managing national reserve goods shall propose to the Minister of Finance and the Minister of Planning and Investment to submit to the Prime Minister for approval to apply other selling methods.

4. Where national reserve goods are not required to be sold through public auctions under the law, the head of the ministry or sector directly managing national reserve goods and the Director of the State Reserve General Department may choose to sell through public auctions as stipulated in this Circular.

Article 14. 3. The Police Station of the district bordering the Vietnam-China border: ADJUSTMENT

This Circular takes effect from the date 15/4/2011Abolish Decision No. 103/2008/QĐ-BTC dated November 12, 2008 of the Minister of Finance on the issuance of the Regulation on Public Auction Sales of National Reserve Goods directly managed by the National Reserve Agency.

During implementation, if any issues arise, relevant agencies, units, organizations, and individuals are requested to promptly report to the Ministry of Finance (State Reserve General Department) for consideration and coordination in resolving them./.