In accordance with the Circular No. 89/2015/TT-BTC dated June 11, 2015 of the Ministry of Finance guiding warehouse, delivery, purchasing and selling of national reserve commodities, persons who sign up the auction shall be provided with information, documents related to commodities to be auctioned; must pay for the fee of signing up the auction as stipulated by the law on charges and fees and an amount of money prepaid for professional auction organizations before the auction happens.
Instead of 7% of the prepaid amount of the money as in previous regulations, the prepaid amount of money shall be negotiated between the professional auction organization and person who sell the auctioned asset but it shouldn’t be at minimum of 1% and at maximum of 15% of starting price of auctioned assets (don’t pay interest in the time of deposit). In the case that person who sign up the auction are more than auctioned national assets, the prepaid amount of money must be equal to the prepaid money of units attended the auction.
Accordingly, national reserve units must publish information on selecting professional auction organizations on media right after the auction plan is approved. Notification must be done at least twice. If commodities cannot be sold after two unsuccessful auctions, the price for public direct sale to all subjects must not be lower than the starting price of the auction. Paddy, vaccines, germicide chemicals, plant protection drugs, plant seeds and white salt can on public direct sale to all subjects. National reserve commodities to serve defense and security can be put on designated sale only for defense and security purposes.
This Circular takes effect on August 01, 2015.
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