According to the Circular, there are six groups of criteria when selecting a property auction organization:
- Group of criteria on physical facilities and equipment that are necessary for the auction and suitable for the auctioned property.
- Group of criteria for a feasible and effective auction plan.
- Group of criteria on the capability, experience, and reputation of the property auction organization.
- Group of criteria on appropriate auction service remuneration and property auction expenses.
- Inclusion in the list of property auction organizations announced by the Ministry of Justice.
- Other criteria that are suitable for the auctioned property and decided by the owner of the auctioned property.
See more details in Table of criteria for evaluation and grading of property auction organizations in Appendix I of Circular No. 02/2022/TT-BTP .
After the decision of the competent person on the auction of the property is issued, the auctioned property owner shall publicly announce on his/her website and the National Digital Information Portal for property auctioning the selection of a property auction organization with the full criteria prescribed in Article 3 and Appendix I of Circular No. 02/2022/TT-BTP .
Unless otherwise provided for by law, the owner of the auctioned property shall publicly announce the selection of the property auction organization at least three working days before the date of the decision on the selection.
Circular No. 02/2022/TT-BTP comes into force as of March 25, 2022.
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