On March 9, Vietnam Joint Stock Auction Company - the unit selected by the Ministry of Public Security to organize the auction of car license plates - said that the time for the third auction session includes: the official auction time and the time of the extended auction round.

The official auction time is the period from the start of the auction until the 25th minute of the car license plate auction. A person eligible to participate in the auction who does not access the account assigned to participate in the auction within this period will be considered as not participating and will not receive a refund of the deposit, except in cases of force majeure.

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The time of an auction will be changed in the third session.

An extension round is a period of time after the official auction round in which eligible bidders continue to bid. Each extension round lasts 30 seconds and there is a maximum of 10 extension rounds. Only bidders who have bid validly in the previous round are eligible to bid in the next round.

The time to determine the extended round is as follows: After 5 seconds from the end of the official auction time of the extended round, the system will decide whether to continue the next extended rounds or end the auction. The time to determine the extended round is not included in the duration of the car license plate auction.

Authenticate users entering the auction room

The Auction Verification Code is a string of characters used to authenticate the customer's account that is eligible to participate in the auction. The verification code consists of 10 characters including letters and numbers. The verification code is valid for 24 hours and will be sent to the customer by the auction company before the auction takes place.

Captcha code (XXXX): Is a form of authentication check that the auction participant is not a machine or a person using a support tool when participating in the auction. The captcha code is displayed after the customer enters the authentication code to participate in the auction.

Show detailed bidding progress

The system will display valid or invalid bids of auction participants through the auction progress display section with icons next to it.

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The system will display detailed bidding progress (Screenshot)

Valid bid method: The valid bid of the auction participant is recorded by the system as one valid bid within 1 second for one auction participant's account during the entire time of the official auction time and the extended auction round.

How to determine the winning bidder in the renewal rounds

At the end of the extended round, if the system records that there is only 1 valid bidder in the extended round, the auction ends, that bidder is the winning bidder, and the highest valid bid is the winning bid.

During the last 10 seconds of each extension, if the system records a new valid bid, the auction will be extended for additional rounds, each round lasting 30 seconds and no more than 10 rounds can be extended. Only those who bid validly in the previous round can bid in the next round.

In the last 10 seconds of each extended round, if the system does not record any new valid bids, the highest valid bidder is the winner and the auction ends.

In the tenth extension round, at the end of the auction, the highest valid bidder is recorded by the system as the auction winner.

Auction of more than 188 thousand car license plates in the third session At the third car license plate auction, the Ministry of Public Security put up for auction more than 188 thousand plates from 63 provinces and cities across the country. The listing period is 1 month, starting from March 11.