Decree No. 87/2024/ND-CP stipulates administrative penalties for violations in price management

DECREE
Regulations on Administrative Penalties for Price Management

||| Pursuant to the Law on Organization of the Government dated June 19, 2015;

Pursuant to the Law on Organization of Local Administration dated June 19, 2015;

Pursuant to the Law Amending and Supplementing Several Provisions of the Law on Organization of the Government and the Law on Organization of Local Administration dated November 22, 2019;

Pursuant to the Law on Handling Administrative Violations dated June 20, 2012; the Law Amending and Supplementing Certain Provisions of the Law on Handling Administrative Violations dated November 13, 2020;

Pursuant to the Price Law dated June 19, 2023;

At the proposal of the Minister of Finance,

The Government promulgates this Decree to regulate administrative penalties for price management.

PART I
GENERAL PROVISIONS

This Decree stipulates acts of administrative violations; completed acts of administrative violations and ongoing acts of administrative violations; forms of penalty, levels of penalty, measures to remedy consequences for each act of administrative violation; subjects subject to penalty; authority to impose penalties, specific fine amounts according to each position and authority to prepare administrative violation reports; enforcement of administrative penalty forms, measures to remedy consequences in price management (including: state activities in managing and regulating prices; price databases; price appraisals; specialized inspections on prices, compliance checks with laws on prices, price appraisals) and publication of information on violations of laws on prices and price appraisals on mass media.

Article 2. Applicability

1. Vietnamese individuals and organizations; foreign individuals and organizations (hereinafter referred to as individuals and organizations) committing administrative violations as prescribed in this Decree; persons authorized to prepare administrative violation reports, authority to impose administrative penalties and other related individuals and organizations.

2. Organizations subject to penalties under this Decree include:

a) Economic organizations established in accordance with the Law on Enterprises, including: private enterprises, joint-stock companies, limited liability companies, partnerships, and affiliated units of enterprises (branches, representative offices);

b) Cooperatives and cooperative federations established in accordance with the Law on Cooperatives;

c) Organizations established in accordance with the Law on Investment and the Law on Trade, including: domestic investors, foreign investors (excluding individual investors) and economic organizations with foreign investment capital; representative offices and branches of foreign traders in Vietnam; representative offices of foreign trade promotion organizations in Vietnam;

d) Social organizations, political-social organizations, political-social-professional organizations, social-professional organizations;

d) Public service units;

e) State agencies committing violations that are not within their assigned state management tasks;

g) Other organizations as prescribed by law.

3. Individual households, family households, domestic investors and foreign investors who are individuals committing administrative violations as prescribed in this Decree shall be subject to administrative penalties for individuals.

1. Forms of administrative penalties include:

a) Fine;

b) Suspension of the right to use the Price Appraisal Certificate for a period of time; suspension of business operations in price appraisal services for a period of time; suspension of training, upgrading, and updating knowledge on price appraisals for a period of time.

2. The form of penalty prescribed in point a, Clause 1 of this Article is the main form of penalty. The form of penalty prescribed in point b, Clause 1 of this Article is the supplementary form of penalty.

3. The maximum fine amount for individuals prescribed in this Decree is VND 150,000,000, for organizations it is VND 300,000,000.

4. The fine amount and authority to impose fines prescribed in this Decree apply to individuals. The fine amount and authority to impose fines for organizations are twice the fine amount for individuals.

5. Determination of aggravating circumstances, mitigating circumstances, and specific fine amounts for each act of administrative violation in the field of prices shall be carried out in accordance with the Law on Handling Administrative Violations and the Circular detailing certain provisions and implementation measures of the Law on Handling Administrative Violations.

6. In cases where individuals and organizations repeatedly commit multiple acts of administrative violations as prescribed in this Decree, the aggravating circumstance of repeated administrative violations shall be applied, except for the acts of administrative violations at Clause 1, Clause 2, Clause 3, Clause 4, and Clause 5 of Article 7; Clause 4, Clause 5, and Clause 6 of Article 20; Clause 3 of Article 22; Clause 5 of Article 23; Clause 4 of Article 25 of this Decree, which shall be penalized separately for each act.

7. In addition to the forms of administrative penalties prescribed in Clause 1 of this Article, depending on the nature and degree of violation, violators may also be subject to one or more of the following remedial measures:

a) Compel compliance with correct regulations and measures to stabilize prices as prescribed by competent authorities; compel full disclosure of information about the Stabilization Fund as prescribed; compel full reporting on the Stabilization Fund as prescribed or upon request of competent state authorities; compel payment into the Stabilization Fund the amount of money improperly set aside or used or in accordance with administrative directives of competent state authorities;

b) Compel cessation of pricing goods and services as determined by organizations or individuals;

c) Compel submission of price declaration forms, compel compliance with price declaration or price display requirements as prescribed;

d) Compel refund to customers the difference due to selling above the regulated price, the amount of profit gained from the administrative violation;

đ) Compel return of unlawful profits obtained through the commission of administrative violations;

e) Compel submission of reports, provision of information and documents; compel additional submission of information and documents; compel provision and updating of price information into the price database as prescribed;

g) Compel public disclosure of information in accordance with laws on price appraisals;

h) Compel compliance with reporting requirements as prescribed by laws on price appraisals;

i) Compel purchase of professional liability insurance or setting aside risk reserves as prescribed by laws on price appraisals;

k) Compel updating of appraisal certificates into the National Price Database as prescribed by laws on price appraisals;

l) Compel storage, preservation, and utilization of appraisal files in accordance with laws on price appraisals;

m) Compel explanation of appraisal reports prepared by price appraisers to competent state authorities;

n) Compel reapplication for certification of eligibility to operate price appraisal services;

o) Compel accurate and truthful disclosure of qualifications, experience, and service-providing capabilities of price appraisers and appraisal firms.

p) Compel the implementation of quality control for appraisal report reviews;

q) Compel the reissue of training certificates to participants in the relevant courses;

r) Compel the revocation of training certificates, continuing education certificates, or knowledge update confirmations on appraisal, and compel the payment of profits derived from the violation into the state budget;

s) Compel the revocation of training certificates, continuing education certificates, or knowledge update confirmations on appraisal, and compel the reimbursement of training and continuing education costs or knowledge update costs to participants;

t) Compel the cessation of information dissemination due to the commission of a violation;

8. The enforcement of remedial measures shall be carried out in accordance with the provisions of the Law on Handling Administrative Violations and the Decree detailing certain articles and enforcement measures under the Law on Handling Administrative Violations;

For the remedial measures stipulated in Clause 2, Article 10, Point b, Clause 4, Article 13, and Point b, Clause 5, Article 15 of this Decree, individuals and organizations committing violations must cooperate with related organizations and individuals (if any) to implement the remedial measures specified in the Decision in accordance with the law and bear all costs associated with the implementation of such remedial measures. Within seven working days after the deadline for publicly disclosing the remediation content on mass media, the individual or organization committing administrative violations must report the results of implementing the remedial measures to the authority issuing the penalty decision;

Article 4. Time Limit for Administrative Sanctions

1. The statute of limitations for administrative penalties in price management is provided for in Article 6 of the Law on Handling Administrative Violations;

2. The principles for determining when an administrative violation has ended or is ongoing for the purpose of calculating the statute of limitations for administrative penalties in price management shall be applied according to the provisions of the Decree detailing certain articles and enforcement measures under the Law on Handling Administrative Violations;

Article 5. Publishing Information on Price and Appraisal Violations;

1. In cases where administrative violations cause significant consequences or have a negative impact on public opinion, the head of the agency or unit that issued the Penalty Decision shall send a document regarding public disclosure and a copy of the Penalty Decision to the website or newspaper of the central-level ministry, provincial department, or provincial People's Committee within three working days from the date of issuance of the Penalty Decision;

2. The content for public disclosure is a copy of the Penalty Decision;

3. The head of the press agency or the person responsible for managing the content of the website specified in Clause 1 of this Article shall be responsible for:

a) Posting a copy of the Penalty Decision within two working days from the date of receipt of the document regarding public disclosure and a copy of the Penalty Decision;

b) Publicly posting information for each Penalty Decision at least once, with a minimum posting period of thirty days;

c) Posting corrected information (if any) on the website or subsequent issue of the newspaper within one working day from the time of receiving a request to correct the information;

4. The head of the agency or unit that issued the Penalty Decision shall be responsible for:

a) Being accountable for the content of the publicly disclosed information;

b) Correcting incorrect information within one working day from the time of discovery or receipt of a request to correct the information;

5. Correction of Information:

a) If the website or newspaper fails to accurately publish the information as prescribed in Clause 2 of this Article, it must correct the information in the same section or position where it was originally published within one working day from the time of discovery or receipt of a request to correct the information on the website or subsequent issue of the newspaper, and bear the cost of correction;

b) The correction shall be made only once for each Penalty Decision, with a minimum posting period of thirty days;

6. The funds for public disclosure and correction of information (if any) shall be paid from the regular operating budget of the agency issuing the Penalty Decision;

Chapter II

ADMINISTRATIVE VIOLATIONS, FORMS OF PENALTIES, AND REMEDIAL MEASURES IN THE FIELD OF PRICE MANAGEMENT AND PRICE DATABASE

Article 6. Sanctions for violations in implementing price stabilization measures prescribed by competent state agencies

1. A fine of VND 10,000,000 to VND 20,000,000 shall be imposed for failing to implement correctly one of the price stabilization measures prescribed by the competent agency.

2. A fine of VND 20,000,000 to VND 30,000,000 shall be imposed for not implementing one of the price stabilization measures prescribed by the competent agency.

3. Measures to remedy consequences:

a) Order to comply with the correct implementation of the price stabilization measures prescribed by the competent agency during the period of implementing the price stabilization measures prescribed by the competent state agency, for violations stipulated in Clause 1 of this Article.

b) Order to comply with the implementation of the price stabilization measures during the period of implementing the price stabilization measures prescribed by the competent state agency, for violations stipulated in Clause 2 of this Article.

Article 7. Sanctions for violations concerning management and use of the Price Stabilization Fund

1. For acts of publicly disclosing incomplete information about the Price Stabilization Fund, disclosing information beyond the prescribed time limit, or failing to disclose information about the Price Stabilization Fund as required by law:

a) A fine of VND 20,000,000 to VND 30,000,000 shall be imposed for publicly disclosing incomplete information about the Price Stabilization Fund as required by law;

b) A fine of VND 30,000,000 to VND 50,000,000 shall be imposed for publicly disclosing information about the Price Stabilization Fund after the deadline of one to five working days from the date it should have been disclosed as required by law;

c) A fine of VND 50,000,000 to VND 70,000,000 shall be imposed for failing to publicly disclose information about the Price Stabilization Fund after five working days from the date it should have been disclosed as required by law.

2. For acts of not reporting or inaccurately, incompletely, or not within the prescribed time limit reporting on the Price Stabilization Fund as required by law or at the request of the competent state agency:

a) A fine of VND 20,000,000 to VND 40,000,000 shall be imposed for incompletely reporting on the Price Stabilization Fund as required by law or at the request of the competent state agency;

b) A fine of VND 10,000,000 to VND 20,000,000 shall be imposed for reporting on the Price Stabilization Fund within three working days from the date it should have been reported as required by law or at the request of the competent state agency;

c) A fine of VND 30,000,000 to VND 50,000,000 shall be imposed for reporting on the Price Stabilization Fund between four to five working days from the date it should have been reported as required by law or at the request of the competent state agency;

d) A fine of VND 50,000,000 to VND 70,000,000 shall be imposed for failing to report on the Price Stabilization Fund after five working days from the date it should have been reported as required by law or at the request of the competent state agency, or for inaccurately reporting on the Price Stabilization Fund.

3. A fine of VND 60,000,000 to VND 80,000,000 shall be imposed for incompletely establishing the Price Stabilization Fund as required by law.

4. A fine of VND 80,000,000 to VND 100,000,000 shall be imposed for failing to establish the Price Stabilization Fund as required by law.

5. A fine of VND 120,000,000 to VND 150,000,000 shall be imposed for using the Price Stabilization Fund contrary to the provisions of law.

6. Measures to remedy consequences:

a) Order to fully disclose information about the Price Stabilization Fund as required by law for violations specified in Point a and Point c, Clause 1 of this Article;

b) Order to fully report on the Price Stabilization Fund as required by law or at the request of the competent state agency for violations specified in Point a, Clause 2 of this Article;

c) Order to report on the Price Stabilization Fund as required by law or at the request of the competent state agency for violations specified in Point d, Clause 2 of this Article;

d) Order to deposit into the Price Stabilization Fund the entire amount of money that was not established or was established incompletely into the Price Stabilization Fund (if any) for violations specified in Clause 3 and Clause 4 of this Article;

đ) Order to deposit into the Price Stabilization Fund the entire amount of money that was improperly used from the Price Stabilization Fund for violations specified in Clause 5 of this Article;

e) Order to deposit into the State budget the entire amount of illegal profit (if any) derived from the Price Stabilization Fund when it was established incompletely, not established, or used contrary to the purpose as prescribed by law regarding the Price Stabilization Fund in Clause 3, Clause 4, and Clause 5 of this Article.

Article 8. Imposing administrative sanctions on violations of regulations regarding reporting, providing information, and documents on prices for management and price regulation purposes as prescribed by competent state agencies.

1. A fine of VND 1,000,000 to VND 2,000,000 shall be imposed for any of the following violations:

a) Submitting reports or providing information, documents beyond the deadline stipulated or requested by the competent state management agency from three working days to five working days.

b) Submitting incomplete reports or providing incomplete information, documents as stipulated or requested by the competent state management agency.

2. A fine of VND 2,000,000 to VND 5,000,000 shall be imposed for violations under point a, Clause 1 of this Article from six working days to ten working days.

3. A fine of VND 5,000,000 to VND 10,000,000 shall be imposed for violations under point a, Clause 1 of this Article after ten working days.

4. Measures to remedy consequences:

a) Compelling submission of reports, provision of information, and documents as prescribed or stipulated by the competent state management agency for violations under Clause 3 of this Article.

b) Compelling submission of supplementary information, documents for violations under point b, Clause 1 of this Article.

Article 9. Imposing administrative sanctions on violations of regulations regarding submitting pricing plans for goods and services or detailed reports on factors forming the prices of goods and services, and providing related data and documents as required by state agencies.

1. A fine of VND 1,000,000 to VND 5,000,000 shall be imposed for any of the following violations:

a) Submitting pricing plans for goods and services or detailed reports on factors forming the prices of goods and services, or providing related data and documents beyond the deadline from three working days to five working days from the date they must be submitted according to the law or the request of the state agency.

b) Submitting incomplete components of the pricing plan for goods and services as prescribed by the law.

2. A fine of VND 5,000,000 to VND 10,000,000 shall be imposed for violations under point a, Clause 1 of this Article from six working days to ten working days from the date they must establish the pricing plan according to the law.

3. A fine of VND 20,000,000 to VND 30,000,000 shall be imposed for submitting or not submitting pricing plans for goods and services, or detailed reports on factors forming the prices of goods and services, or providing related data and documents beyond ten working days from the date they must establish the pricing plan according to the law.

4. Measures to remedy consequences:

a) Compelling submission of pricing plans for goods and services, detailed reports on factors forming the prices of goods and services, and provision of related data and documents as required by the state agency for violations under Clause 3 of this Article.

b) Compelling submission or supplementary reporting, provision of supplementary related data and documents as required by the state agency for violations under Clause 1, Clause 2, and Clause 3 of this Article.

Article 10. Imposing administrative sanctions on violations of regulations regarding pricing and selling goods and services not in accordance with the provisions of state agencies.

1. Imposing a fine of from 10,000,000 VND to 20,000,000 VND for one of the following acts:

a) The act of selling at a price higher than the specific price set by the State for goods and services.

b) The act of selling at a price higher than the maximum limit of the price range established by the State.

c) The act of selling at a price lower than the minimum limit of the price range established by the State.

d) The act of selling at a price higher than the maximum price established by the State.

đ) The act of selling at a price lower than the minimum price established by the State.

2. Measures to remedy consequences: Compelling return to customers the full amount of the difference due to selling at a higher price than the regulated price caused by violations under point a, point b, and point d, Clause 1 of this Article.

Organizations and individuals engaged in trading goods and services shall publicly announce the content of measures to remedy consequences mentioned above on mass media within thirty days; in cases where customers cannot be identified or refuse to accept, the entire amount of the difference due to selling at a higher price than the regulated price shall be paid into the state budget.

Article 11. Penalty for violation of regulations on price negotiation

A fine of VND 30,000,000 to VND 40,000,000 shall be imposed for failing to properly implement the record of the results of the price negotiation or the document determining the price level issued by the price negotiation body.

Article 12. Penalty for violation of regulations on declaration of prices of goods and services

1. A fine of VND 3,000,000 to VND 5,000,000 shall be imposed for declaring prices without all required contents or not in accordance with the prescribed format of the price declaration document.

2. For the act of declaring prices incorrectly or not declaring prices to the competent state agency as prescribed:

a) A fine of VND 10,000,000 to VND 15,000,000 shall be imposed for declaring prices incorrectly or not declaring prices for one to ten specific goods or services subject to price declaration;

b) A fine of VND 15,000,000 to VND 20,000,000 shall be imposed for declaring prices incorrectly or not declaring prices for eleven to twenty specific goods or services subject to price declaration;

c) A fine of VND 20,000,000 to VND 25,000,000 shall be imposed for declaring prices incorrectly or not declaring prices for twenty-one or more specific goods or services subject to price declaration.

3. Measures to remedy consequences:

a) Order to resubmit the declaration document containing all required contents or in accordance with the prescribed format for violations under Clause 1 of this Article;

b) Order to declare prices for the levels already implemented for violations under Clause 2 of this Article.

Article 13. Penalty for violation of regulations on price display of goods and services

1. A fine of from VND 500,000 to VND 1,000,000 shall be imposed on any of the following acts:

a) Not displaying prices of goods and services in one of the forms prescribed by law;

b) Displaying prices of goods and services unclearly, causing confusion for customers;

c) Displaying prices of goods and services not in accordance with the specific prices determined by the competent state agency or organizations or individuals.

2. A fine of VND 5,000,000 to VND 10,000,000 shall be imposed for selling at a higher price than the displayed price of goods and services priced and declared by organizations or individuals not covered under Clause 3 of this Article.

3. A fine of VND 20,000,000 to VND 30,000,000 shall be imposed for selling at a higher price than the displayed price for goods and services listed in the Price Stabilization List during the period when the State implements price stabilization measures.

4. Measures to remedy consequences:

a) Order to display prices in accordance with the regulations for violations under Clause 1 of this Article;

b) Order to refund customers the excess amount collected above the displayed price for violations under Clause 2 and Clause 3 of this Article.

Organizations and individuals engaged in the business of goods and services shall publicly announce the content of measures to remedy the consequences mentioned above on mass media within thirty days; in cases where the customer cannot be identified or refuses to accept the refund, the entire difference due to selling at a higher price than the displayed price shall be paid into the State budget.

Article 14. Penalty for violation of regulations on compliance with inspection and audit decisions in price management

1. A fine of from VND 2,000,000 to VND 5,000,000 shall be imposed for any of the following acts:

a) Refusing to accept inspection and audit decisions in price management when handed over or sent by the competent authority according to regulations;

b) Failing to comply with inspection and audit decisions in price management as notified by the competent state authority;

c) Failing to provide documents and materials as requested by the authority or authorized person during the inspection or audit at the inspection site;

d) Providing incomplete or inaccurate information and materials as requested by the authority or authorized person during the inspection or audit at the inspection site;

đ) Failing to sign the inspection or audit record within five working days from the date of issuance or public announcement of the record.

2. A fine of VND 5,000,000 to VND 10,000,000 shall be imposed for repeated offenses of the acts prescribed in Clause 1 of this Article.

3. Remedial measures: Order to provide related information and materials for the act prescribed in point c Clause 1 of this Article; order to provide complete and accurate information and materials for the act prescribed in point d Clause 1 of this Article.

Article 15. Sanctions for other violations in price management

1. A fine of from VND 15,000,000 to VND 20,000,000 shall be imposed on the act of spreading false or inaccurate information about economic and social conditions that disrupt market information, goods prices, and service prices.

2. A fine of VND 20,000,000 to VND 30,000,000 shall be imposed on any of the following acts:

a) The act of price fraud through intentionally changing the contents of commitments made in transactions without prior notice to customers regarding time, location, purchase and sale conditions, transportation methods, payment terms, quality, quantity, features, functions, goods, and services at the time of delivery or service provision;

b) The act of obstructing by directly or indirectly influencing the process of state agencies implementing price management, regulation, and assessment activities, thereby creating difficulties in compliance with the law.

3. A fine of from VND 30,000,000 to VND 50,000,000 shall be imposed on the act of colluding or agreeing to distort goods and service prices for personal gain or profit; coordinating on prices to seek profit.

4. A fine of from VND 50,000,000 to VND 80,000,000 shall be imposed on the act of taking advantage of emergency situations, accidents, disasters, natural calamities, or epidemics to increase sales prices of goods and services not in line with normal cost fluctuations for profit.

For acts of abusing dominant market positions or monopolistic positions, sanctions shall be carried out according to regulations on administrative penalties in the field of competition.

5. Measures to remedy consequences:

a) Order to correct information resulting from the violation stipulated in Clause 1 of this Article;

b) Order to refund customers the amount of money gained from the administrative violation stipulated in Point a, Clause 2, Clause 3, and Clause 4 of this Article. Organizations and individuals engaged in trading goods and services must publicly announce the content of measures to rectify consequences within thirty days via mass media. In cases where customers cannot be identified or refuse to accept the refund, the entire difference due to fraud shall be paid into the state budget.

Article 16. Sanctions for violations related to the construction, exploitation, and use of price databases by organizations and individuals engaged in trading goods and services

1. A fine of VND 1,000,000 to VND 2,000,000 shall be imposed on any of the following acts:

a) Failure to provide or update price information;

b) Providing or updating price information not in accordance with regulations;

c) Providing or updating incorrect price information into the price database.

2. A fine of from VND 2,000,000 to VND 5,000,000 shall be imposed on the act of using price data in the price database for purposes not permitted by the competent authority managing such database.

3. Measures to remedy consequences:

a) Order to provide or update price information for acts stipulated in Point a, Clause 1 of this Article;

b) Order to provide or update price information in accordance with regulations for acts stipulated in Points b and c, Clause 1 of this Article.

Chapter III
ADMINISTRATIVE VIOLATIONS, FORMS OF SANCTIONS, AND MEASURES TO RECTIFY CONSEQUENCES IN THE FIELD OF PRICE ASSESSMENT

Article 17. Sanctions for violations concerning public disclosure of information

1. A fine of from VND 3,000,000 to VND 5,000,000 shall be imposed on the act of failing to fully disclose information on price assessment as required.

2. A fine of from VND 5,000,000 to VND 8,000,000 shall be imposed on the act of failing to implement the public disclosure of information on price assessment as required.

3. Measures to rectify consequences: Order to publicly disclose information in accordance with laws on price assessment for violations stipulated in Clause 1 and Clause 2 of this Article.

Article 18. Sanctions for violations of reporting regulations in appraisal activities

1. A fine of VND 5,000,000 to VND 8,000,000 shall be imposed on any of the following acts:

a) Submitting reports that do not conform to the prescribed format under the law on appraisal;

b) Submitting reports that do not contain all required contents as stipulated by the law on appraisal.

2. A fine of VND 8,000,000 to VND 10,000,000 shall be imposed on the act of submitting reports as prescribed by the law on appraisal within a period from 15 days to 30 days from the date when such reports are required to be submitted in the following cases:

a) There is a change in appraisers due to the appraiser at the enterprise no longer maintaining the conditions for practicing appraisal or changing the place of registration;

b) Changing information recorded on the certificate of eligibility for business in appraisal services, including: information about the enterprise and its branches; information about the legal representative of the appraisal enterprise and the head of the branch recorded on the certificate of eligibility for business in appraisal services.

3. A fine of VND 12,000,000 to VND 15,000,000 shall be imposed on the act of submitting reports as prescribed in Clause 2 of this Article within a period from 31 days to 45 days from the date when such reports are required to be submitted.

4. Fine from 15,000,000 VND to 20,000,000 VND for one of the following acts:

a) Submitting reports as prescribed in Clause 2 of this Article after a period of 45 days from the date when such reports are required to be submitted;

b) Submitting periodic reports as prescribed by the law on appraisal after a period of 15 days from the date when such periodic reports are required to be submitted;

c) Submitting ad hoc reports as prescribed by the law on appraisal after a period of 5 days from the date when such ad hoc reports are required to be submitted;

d) Not submitting reports as prescribed in Clause 2 of this Article after a period of 45 days from the date when such reports are required to be submitted;

đ) Not submitting periodic reports as prescribed by the law on appraisal after a period of 15 days from the date when such periodic reports are required to be submitted;

e) Not submitting ad hoc reports as prescribed by the law on appraisal after a period of 5 days from the date when such ad hoc reports are required to be submitted.

5. Measures to remedy consequences: Compel submission of reports as prescribed by the law on appraisal for violations stipulated in points d, đ, and e of Clause 4 of this Article.

Article 19. Sanctions for violations of regulations on purchasing professional liability insurance and setting aside risk reserves

1. A fine of VND 10,000,000 to VND 15,000,000 shall be imposed on the act of setting aside risk reserves not in accordance with the prescribed level under the law.

2. A fine of VND 15,000,000 to VND 20,000,000 shall be imposed on the act of not purchasing professional liability insurance for appraisal activities and not setting aside risk reserves as prescribed by the law.

3. Measures to remedy consequences:

a) Compel setting aside risk reserves in accordance with the law on appraisal for violations stipulated in Clause 1 of this Article;

b) Compel purchasing professional liability insurance or setting aside risk reserves in accordance with the law on appraisal for violations stipulated in Clause 2 of this Article.

Article 20. Sanctions for violations of regulations on issuing and releasing appraisal certificates and appraisal reports

1. A fine of from VND 10,000,000 to VND 15,000,000 shall be imposed for any of the following acts:

a) Issuing appraisal certificates that do not conform to the prescribed format under the Vietnamese Appraisal Standards;

b) Failing to fully update appraisal certificates into the National Price Database as prescribed by the law on appraisal.

2. A fine of VND 15,000,000 to VND 20,000,000 shall be imposed on the act of not updating appraisal certificates into the National Price Database as prescribed by the law on appraisal.

3. A fine of from VND 20,000,000 to VND 30,000,000 shall be imposed for any of the following acts:

a) Issuing appraisal certificates, appraisal reports that do not contain all basic contents as prescribed by the Vietnamese Appraisal Standards;

b) Releasing appraisal certificates, appraisal reports without the authority of the appraisal enterprise's branch as prescribed by the law on appraisal.

4. A fine of VND 30,000,000 to VND 40,000,000 shall be imposed on any of the following acts:

a) Issuing appraisal certificates, appraisal reports in the capacity of an individual;

b) Releasing appraisal certificates without accompanying appraisal reports or vice versa.

5. A fine of VND 40,000,000 to VND 50,000,000 shall be imposed on any of the following acts:

a) Signing appraisal certificates, appraisal reports not in accordance with the field of expertise, notification of competent authorities regarding the permitted fields of practice; signing appraisal certificates, appraisal reports when not meeting the conditions for registering to practice appraisal as prescribed;

b) Releasing appraisal certificates, appraisal reports when the appraisal enterprise has a legal representative of the enterprise or the branch of the appraisal enterprise has a branch head who is no longer an appraiser at the enterprise or does not meet the conditions for practicing appraisal.

6. A fine of VND 50,000,000 to VND 60,000,000 shall be imposed on any of the following acts:

a) Issuing false appraisal certificates, appraisal reports, related documents to appraisal activities as prescribed by the Vietnamese Appraisal Standards;

b) Releasing appraisal certificates, appraisal reports when the appraisal enterprise is suspended from operating appraisal services.

7. Additional forms of administrative sanction:

a) Suspension of the right to use the Appraiser Card for a period of 1 month to 2 months from the effective date of the penalty decision for violations stipulated in point a of Clause 5 of this Article;

b) Suspension of the operation of appraisal service business for a period of 1 month to 2 months from the effective date of the penalty decision for violations stipulated in point b of Clause 5 of this Article;

c) Suspension of the right to use the Appraiser Card for a period of 2 months to 3 months from the effective date of the penalty decision for violations stipulated in point a of Clause 6 of this Article;

d) Suspension of the operation of appraisal service business for a period of 4 months to 6 months from the effective date of the penalty decision for violations stipulated in Clause 6 of this Article.

8. Remedial measures: Compel the updating of the appraisal report into the National Price Database in accordance with the legal provisions on price appraisal for the violation stipulated in Clause 2 of this Article.

Article 21. Penalty for violations concerning the storage, preservation, and exploitation of appraisal records

1. Imposing a fine of from 10,000,000 VND to 20,000,000 VND for one of the following acts:

a) Failure to store appraisal records fully as prescribed by law;

b) Non-compliance with legal provisions on the preservation and exploitation of appraisal records.

2. Fine from VND 20,000,000 to VND 30,000,000 for the act of altering or changing the content of stored appraisal records.

3. Fine from VND 20,000,000 to VND 30,000,000 for the act of not having appraisal records due to non-compliance with legal storage requirements.

4. Remedial measures: Compel compliance with legal provisions on the storage, preservation, and exploitation of appraisal records for the violations stipulated in Clause 1 and Clause 2 of this Article.

Article 22. Penalty for violations concerning the practice of price appraisal

1. Fine from VND 10,000,000 to VND 15,000,000 for the act of failing to provide an explanation of the appraisal report conducted by the appraiser to the competent state agency when required by law.

2. A fine of VND 30,000,000 to VND 40,000,000 shall be imposed for any of the following acts:

a) Failure to properly follow guidelines for collecting information about the appraised asset and information serving the appraisal process as prescribed in the Vietnamese Appraisal Standards;

b) Failure to properly follow approaches and methods of appraisal as prescribed in the Vietnamese Appraisal Standards;

c) Failure to apply all prescribed methods of appraisal as set forth in the Vietnamese Appraisal Standards.

3. Fine from VND 80,000,000 to VND 100,000,000 for the act of forging, renting, lending, or using an appraisal card contrary to the Law on Prices and related laws without reaching the level of criminal liability under the Penal Code.

4. Additional forms of administrative punishment:

a) Suspension of the right to use the Appraiser Card for a period of two to three months from the date the penalty decision takes effect for the violation stipulated in Clause 2 of this Article;

b) Suspension of the right to use the Appraiser Card for a period of six to nine months from the date the penalty decision takes effect for the violation stipulated in Clause 3 of this Article, except in cases of forgery of the Appraiser Card.

5. Remedial measures: Compel the provision of an explanation of the appraisal report conducted by the appraiser to the competent state agency for the violation stipulated in Clause 1 of this Article.

Article 23. Penalty for other violations concerning price appraisal

1. Fine from VND 5,000,000 to VND 8,000,000 for the act of providing appraisal services without an appraisal service contract.

2. Fine from 8,000,000 VND to 10,000,000 VND for one of the following acts:

a) Failure to reapply for a certificate of eligibility to operate appraisal services within the prescribed time limit from the date of change in information on the certificate of eligibility to operate appraisal services;

b) Signing an appraisal service contract without permission as prescribed by law on appraisal.

3. A fine of from VND 10,000,000 to VND 20,000,000 shall be imposed for one of the following acts:

a) Providing inaccurate and untruthful information about the qualifications, experience, and service-providing capacity of the appraiser and appraisal firm;

b) Filing false information for registration or re-registration of a certificate of eligibility to operate appraisal services or the registration file of the appraiser;

c) Establishing regulations but not implementing quality control procedures for issuance and provision of appraisal reports to clients.

4. A fine of VND 20,000,000 to VND 30,000,000 shall be imposed on one of the following acts:

a) Failure to establish quality control regulations and not implementing quality control procedures for issuance and provision of appraisal reports to clients;

b) Providing appraisal services or conducting appraisals for persons related to the appraisal firm as prescribed by law on enterprises;

c) Obstructing the activities of state agencies in conducting appraisals or issuing documents containing forms and conditions that restrict the operations of appraisal firms and appraisers contrary to the Law on Prices.

5. Fine from VND 100,000,000 to VND 150,000,000 for the act of bribery, collusion, or agreement to distort the value of the appraised asset for personal gain or profit, or colluding in appraisal activities without reaching the level of criminal liability under the Penal Code.

6. Additional penalties: Suspension of business operations in appraisal services for a period of six to nine months from the date the penalty decision takes effect for the violation stipulated in Clause 5 of this Article.

7. Measures to remedy consequences:

a) Compel the reapplication for a certificate of eligibility to operate appraisal services for the violation stipulated in Point a, Clause 2 of this Article;

b) Compel the provision of accurate and truthful information about the qualifications, experience, and service-providing capacity of the appraiser and appraisal firm for the violation stipulated in Point a, Clause 3 of this Article;

c) Compel the implementation of quality control procedures for appraisal reports for the violations stipulated in Point c, Clause 3 and Point a, Clause 4 of this Article.

Article 24. Sanction for violation of provisions on providing information about appraised assets and using appraisal certificates for appraisal clients and third parties named in the appraisal contract

1. A fine of from five million to ten million Vietnamese dong shall be imposed for one of the following acts:

a) Using an expired appraisal certificate;

b) Using an appraisal certificate not in accordance with the purpose of the appraisal and the correct asset information and quantity stated in the appraisal contract.

2. A fine of from twenty million to thirty million Vietnamese dong shall be imposed for intentionally providing false information about appraised assets.

Article 25. Sanction for violation of provisions on training, upgrading, and updating knowledge on appraisal

1. A fine of from five million to ten million Vietnamese dong shall be imposed for any of the following acts:

a) Not implementing the collection of student feedback on the course quality evaluation form as prescribed;

b) Not implementing reports on the reporting system for training, upgrading, and updating knowledge on appraisal as prescribed.

2. A fine of from ten million to twenty-five million Vietnamese dong shall be imposed for one of the following acts:

a) Organizing a class exceeding the number of students as prescribed by the law on appraisal;

b) Not ensuring the content, program, and duration of the class as prescribed;

c) Arranging lecturers who do not meet the standards prescribed by the law on appraisal;

d) Compiling and using training, upgrading, and updating knowledge materials that do not conform to the prescribed curriculum under the law on appraisal;

đ) Conducting examination and assessment of learning outcomes that do not comply with the regulations of the law on appraisal;

e) Issuing certificates that do not conform to the model prescribed by the Ministry of Finance;

g) Storing related records for organizing training, upgrading, and updating knowledge that do not comply with the regulations of the law on appraisal.

3. A fine of from fifteen million to thirty million Vietnamese dong shall be imposed for one of the following acts:

a) Issuing certificates or confirmation to students who do not meet the requirements prescribed by the law on study time and examination results;

b) Issuing certificates or confirmation to individuals who did not actually participate in the course.

4. A fine of from twenty million to thirty-five million Vietnamese dong shall be imposed for one of the following acts:

a) Opening a class without meeting the requirements and conditions prescribed by the Ministry of Finance;

b) Opening a class and issuing training, upgrading, or confirmation certificates for updating knowledge on appraisal when not belonging to the target group for training, upgrading, or updating knowledge as prescribed by the Ministry of Finance.

5. Additional forms of punishment:

a) Suspension of training, upgrading, and updating knowledge class activities for a period of from one month to two months from the date the sanction decision takes effect for violations stipulated in point b, Clause 3, Article 25 herein;

b) Suspension of training, upgrading, and updating knowledge class activities for a period of from two months to three months from the date the sanction decision takes effect for violations stipulated in Clause 4, Article 25 herein.

6. Measures to remedy consequences:

a) Compelling to report according to the reporting system for training, upgrading, and updating knowledge on appraisal for violations stipulated in point b, Clause 1, Article 25 herein;

b) Compelling to reissue training, upgrading certificates for participants in the class for violations stipulated in point e, Clause 2, Article 25 herein;

c) Compelling to recall training, upgrading, or confirmation certificates for updating knowledge on appraisal while compelling to pay into the state budget the amount of profit gained from violations stipulated in point b, Clause 3, Article 25 herein;

d) Compelling to recall training, upgrading, or confirmation certificates for updating knowledge on appraisal while compelling to refund training, upgrading, or updating knowledge costs for participants in the course for violations stipulated in Clause 4, Article 25 herein.

Chapter IV
AUTHORITY TO ISSUE SANCTION DECISION AND IMPOSE SANCTIONS
VIOLATIONS

Article 26. Competence to Draw up Administrative Violation Records

1. The persons authorized to draw up administrative violation records as stipulated herein shall have the authority to draw up administrative violation records concerning administrative violations within their scope of duty and tasks assigned according to the prescribed form and shall be responsible for the drawing up of such records.

2. The following persons shall have the authority to draw up administrative violation records:

a) Persons authorized to impose administrative penalties as provided for in this Decree;

1. The Chief Inspector of ministries, agencies at the ministerial level; the Director of the Price Management Department shall have the authority to:

a) Impose fines up to VND 150,000,000 on acts of violation as specified in this Decree;

b) Apply supplementary administrative sanctions as provided for in point b, Clause 1, Article 3 and measures to remedy consequences as provided for in Clause 7, Article 3 of this Decree.

2. The Chief Inspector of provincial departments; the Head of specialized inspection teams of agencies entrusted with specialized inspection functions shall have the authority to:

a) Impose fines up to VND 50,000,000 on acts of violation as specified in this Decree;

b) Apply supplementary administrative sanctions as provided for in point b, Clause 1, Article 3 and measures to remedy consequences as provided for in Clause 7, Article 3 of this Decree.

Chairpersons of People's Committees at all levels shall have the authority to impose administrative penalties in the field of price management in their localities.

1. Chairpersons of provincial People's Committees shall have the authority to:

a) Impose fines up to VND 150,000,000 on acts of violation in price management;

b) Apply supplementary administrative sanctions as provided for in point b, Clause 1, Article 3 and measures to remedy consequences as provided for in Clause 7, Article 3 of this Decree.

2. The Chairperson of the People's Committee at the district level has the right to:

a) Impose maximum fines not exceeding VND 75,000,000;

b) Apply supplementary administrative sanctions as provided for in point b, Clause 1, Article 3 and measures to remedy consequences as provided for in Clause 7, Article 3 of this Decree.

3. Chairpersons of village-level People's Committees shall have the authority to impose maximum fines not exceeding VND 5,000,000.

Persons authorized by market management authorities as stipulated in Article 45 of the Law on Handling Administrative Violations shall have the authority to impose administrative penalties as provided for in Articles 6, Clause 1, Article 7, Article 8, Article 10, Article 11, Article 13, and Article 15 of this Decree, specifically as follows:

1. The Director of the General Administration of Market Management shall have the authority to:

a) Impose fines up to VND 150,000,000;

b) Have the authority to apply remedial measures as provided for in points a, b, c, d, đ, e, t, Clause 7, Article 3 of this Decree.

2. The Director of Provincial Market Management Departments, the Director of Market Management Business Units under the General Administration of Market Management shall have the authority to:

a) Impose fines up to VND 50,000,000;

b) Have the authority to apply remedial measures as provided for in points a, b, c, d, đ, e, t, Clause 7, Article 3 of this Decree.

3. The Head of Market Management Teams, the Head of Business Units under Market Management Business Units shall have the authority to:

a) Impose fines up to VND 25,000,000;

b) Have the authority to apply remedial measures as provided for in points a, b, c, d, đ, e, t, Clause 7, Article 3 of this Decree.

1. The Director of the Internal Political Security Bureau, the Director of the Economic Security Bureau, the Director of the Administrative Management Police Bureau, the Director of the Social Order Investigation Police Bureau, the Director of the Corruption, Economy, Smuggling Investigation Police Bureau, the Director of the Narcotics Investigation Police Bureau, the Director of the Traffic Police Bureau, the Director of the Fire Prevention, Rescue and Disaster Relief Police Bureau, the Director of the Environmental Crime Prevention Police Bureau, the Director of the Cybersecurity and High-Tech Crime Prevention Bureau, the Director of the Domestic Security Bureau, the Director of the Temporary Detention, Pretrial Detention and Execution of Criminal Sentences in the Community Police Bureau, the Commander of the Mobile Police Force shall have the authority to:

a) Impose fines up to VND 150,000,000;

b) Apply supplementary administrative sanctions as provided for in point b, Clause 1, Article 3 and measures to remedy consequences as provided for in Clause 7, Article 3 of this Decree.

2. The Director of the Provincial Public Security Force has the authority:

a) Fine up to seventy-five million VND;

b) Apply supplementary administrative sanctions as provided for in point b, Clause 1, Article 3 and measures to remedy consequences as provided for in Clause 7, Article 3 of this Decree.

3. The Head of County Public Security Offices; the Head of Business Units under the Internal Political Security Bureau; the Head of Business Units under the Administrative Management Police Bureau; the Head of Business Units under the Traffic Police Bureau; the Head of Business Units under the Fire Prevention, Rescue and Disaster Relief Police Bureau; the Head of Business Units under the Cybersecurity and High-Tech Crime Prevention Bureau; the Head of Business Units under the Exit and Entry Management Bureau; the Head of Provincial Public Security Offices including: the Head of the Internal Political Security Bureau, the Head of the Administrative Management Police Bureau, the Head of the Social Order Investigation Police Bureau, the Head of the Corruption, Economy, Smuggling Investigation Police Bureau, the Head of the Narcotics Investigation Police Bureau, the Head of the Criminal Sentencing Enforcement and Judicial Support Bureau, the Head of the Environmental Crime Prevention Bureau, the Head of the Cybersecurity and High-Tech Crime Prevention Bureau, the Head of the Exit and Entry Management Bureau, the Head of the Economic Security Bureau, the Head of the Foreign Security Bureau, the Battalion Commander of the Mobile Police Force, the Flotilla Commander shall have the authority to:

a) Impose fines up to VND 25,000,000;

b) Apply supplementary administrative sanctions as provided for in point b, Clause 1, Article 3 and measures to remedy consequences as provided for in Clause 7, Article 3 of this Decree.

4. The Head of Village Public Security Offices, the Head of Public Security Posts, the Head of Public Security Posts at industrial zones, the Head of International Airport Customs Public Security Offices, the Battalion Commander of the Mobile Police Force, the Flotilla Commander shall have the authority to:

a) Impose fines up to VND 2,500,000;

b) Apply remedial measures as provided for in Clause 7, Article 3 of this Decree.

Chapter V

IMPLEMENTING PROVISIONS

Article 31. Effective Date

This Decree shall take effect from July 12, 2024, and replace the provisions on handling administrative violations in the field of pricing set forth in Chapter II of Decree No. 109/2013/ND-CP dated September 24, 2013 of the Government on administrative penalties in the field of pricing, fees, charges, and invoices; Article 1 of Decree No. 49/2016/ND-CP dated May 27, 2016 of the Government amending and supplementing certain articles of Decree No. 109/2013/ND-CP dated September 24, 2013 of the Government on administrative penalties in the field of pricing, fees, charges, and invoices.

Article 32. Transitional Provisions

For acts of violation that occur and end before the effective date of this Decree but are discovered or are being considered for a decision on administrative penalties when this Decree takes effect, they shall continue to be handled according to the provisions of Decree No. 109/2013/ND-CP dated September 24, 2013 of the Government on administrative penalties in the field of pricing, fees, charges, and invoices; Decree No. 49/2016/ND-CP dated May 27, 2016 of the Government amending and supplementing certain articles of Decree No. 109/2013/ND-CP dated September 24, 2013 of the Government on administrative penalties in the field of pricing, fees, charges, and invoices, except where this Decree provides for lighter legal responsibilities or does not provide for legal responsibilities.

Article 33. Implementation Organization

The Ministers, Heads of ministerial-level agencies, Heads of government agencies, Chairpersons of provincial People's Committees under the central government, and related organizations and individuals shall be responsible for implementing this Decree.