According to Decree 156/2024/ND-CP recently issued by the Government, the starting price of a car license plate put up for auction is 40 million VND, increasing every three years from January 1, 2025, each time increasing by 5 million VND.
The Government issued Decree No. 156/2024/ND-CP regulating the auction of vehicle license plates.
The Decree stipulates that the license plates put up for auction are license plates of cars, motorbikes, and mopeds specified in Points c and d, Clause 2, Article 36 of the Law on Road Traffic Order and Safety 2024.
The Minister of Public Security decides on the number of license plates to be auctioned at each auction, including license plates of provinces and centrally run cities that are in the Vehicle Registration and Management System of the Ministry of Public Security and supplements the number of license plates for the Public Security of provinces and centrally run cities in case there are no more license plates to register before the next auction.
The Decree stipulates that the form of vehicle license plate auction is online auction. The auction method is the ascending bid method.
The starting price of a car license plate put up for auction is 40 million VND, increasing every three years from January 1, 2025, each time increasing by 5 million VND. The starting price of a motorcycle license plate put up for auction is 5 million VND, increasing every three years from January 1, 2025, each time increasing by 1 million VND...
The Decree stipulates that the deposit is equal to the starting price of a vehicle license plate to be auctioned. The deposit is deposited into a separate payment account of the property auction organization opened at a bank from the date of listing the property auction until two days before the auction opens.
In case of winning the auction, the deposit will be transferred to the specialized collection account of the Ministry of Public Security to be paid into the state budget according to regulations.
The starting price for car license plate auctions is 5 million VND; for motorbike and scooter license plate auctions is 500,000 VND.
Six steps to license plate auction
The Decree specifies the steps for conducting a vehicle license plate auction:
Registration for participation in the auction: Registration for participation in the auction is carried out entirely online at the Online Auction Information Page of the property auction organization; auction participants register for participation in the auction and submit registration documents for participation in the auction on the Online Auction Information Page; auction participants are solely responsible for the accuracy and honesty of the information declaration to register for participation in the auction.
Auction participants are given an access account, instructions on how to use the account, how to bid and other content on the Online Auction Information Page to conduct the auction.
Auction participants can choose the license plate number according to their needs from the list of license plate numbers put up for auction in all provinces and centrally run cities nationwide to participate in the auction.
Auction participants shall submit the application fee and deposit of the license plate number they have chosen to participate in the auction to the account of the property auction organization as prescribed in Clause 1, Article 7 and Clause 1, Article 8 of this Decree and shall be given the auction code of that license plate number auction.
The property auction organization sells auction participation documents and receives auction participation documents from the date of listing the property auction until two days before the auction opening date.
Auction participants access the Online Auction Information Page with their access accounts and carry out auction procedures according to the Auction Regulations.
At the end of the online auction, the Online Auction Information Page determines the auction winner, announces the auction results, displays the auction minutes for the auction winner to confirm, and sends a notification to the auction participant's email address registered with the property auction organization.
When the registration period for the auction expires and only one person registers to participate in the auction, that person will be determined to be the winner of the license plate auction. The winner of the auction will receive a notification and a record of the winning bid for that license plate before the auction is held.
The property auction organization is responsible for reviewing the documents, comparing the information of the auction participants, assigning the auctioneer to conduct the online auction on the Online Auction Information Page, authenticating the auction minutes with a digital signature to send to the auction winner.
The Ministry of Public Security supervises the auction organization process, auction results, authenticates the auction minutes with digital signatures and other related contents.
In case of stopping the auction, disqualification from participating in the auction and handling of arising situations
The Decree stipulates that property auction organizations and auctioneers must stop the auction in the following cases: The Ministry of Public Security requires property auction organizations to stop organizing the auction when there is reason to believe that the property auction organization or auctioneers have violated the professional ethics of auctioneers and other provisions of the Auction Regulations; force majeure events.
The Ministry of Public Security shall decide on the re-organization of the auction after meeting all the conditions for organizing the auction as prescribed in Clause 2, Article 9 of this Decree and other relevant legal provisions.
Cases of disqualification from participating in auctions: Providing false information and documents; using fake documents to register for auctions or participate in auctions; Colluding or connecting with auctioneers, property auction organizations, property owners, other auction participants, individuals or organizations to lower prices or distort property auction results; Obstructing property auctions, using software to affect the auction process or auction results; disrupting auctions; Threatening or coercing auctioneers or other auction participants to distort property auction results; Other prohibited acts as prescribed by law.
The Decree clearly states that in case of violation of the above provisions, the organization practicing asset auction shall report to the Ministry of Public Security to stop recognizing or cancel the auction results and transfer to the competent authority for handling according to regulations.
Listing and transfer of auction results
Within one working day from the end date of the auction, the property auction organization must publicly post on the Online Auction Information Page the results of the vehicle license plate auction.
Within three working days from the date of auction completion, the property auction organization must electronically transfer the auction results, auction minutes, and list of auction winners and transfer the deposit to the Ministry of Public Security to approve the auction results and complete related procedures./.
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