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THE
NATIONAL ASSEMBLY
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THE
SOCIALIST REPUBLIC OF VIETNAM
Independence– Freedom – Happiness
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Law
No. 11/2012/QH13
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Hanoi,
June 20, 2012
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LAW
ON PRICES
Pursuant to the 1992 Constitution
of the Socialist Republic of Vietnam, which was amended and supplemented under
Resolution No.51/2001/NQ-QH10;
The National Assembly
promulgates the Law on Prices.
Chapter I
GENERAL PROVISIONS
Article 1.
Scope of regulation
This Law prescribes rights and
obligations of organizations and individuals in field of Prices; activities of
managing and regulating prices of the State.
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Production or business
organizations and individuals; consumers; state agencies; other organizations
and individuals relating to activities in the field of prices in the territory
of Vietnam.
Article 3.
Law application
1. Activities in the field of
prices in the territory of Vietnam must observe provisions of this Law.
2. Where an international treaty
which the Socialist Republic of Vietnam has signed or acceded to contains
provisions different from those of this Law, the provisions of such
international treaty shall apply.
Article 4.
Interpretation of terms
In this Law, the following terms
and phrases shall be construed as follows:
1. Goods mean properties that
may exchange, buy, sale in the market, and enable to satisfy demands of human,
including types of movable and immovable properties.
2. Service means goods of which
nature is invisible, and the process of manufacturing and consuming cannot be
separated, including types of service in the system of Vietnamese production
trades as prescribed by law.
3. Essential goods or services
mean goods, services cannot lack for manufacture, life, national defense,
security, including: main raw material, fuel, materials, services for
manufacture, circulation; products satisfy basic demands of human and defense,
security.
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5. Price determination means
provision on prices of goods or services by competent State agencies or
production or business organizations and individuals.
6. Posting up prices means
informing openly by production or business organizations and individuals under
forms which is appropriate, clear and not causing mistake for customers on sale
prices of goods or services in Vietnam dong in ways of printing, pasting,
writing the prices on the board, paper or package of goods or in other forms at
the transaction or offer place of goods or services to make it convenience for
observation and identification of customers, competent State agencies.
7. Price negotiation means
organization and intermediate action for the seller and the buyer of competent
State agencies to negotiate on buy price, sale price of goods or services which
satisfy conditions of Price negotiation at the request of one of parties or
both of parties or as having request of the the Prime Minister, ministers,
heads of ministerial - level agencies, heads of Governmental agencies,
presidents of People’s Committee of central-affiliated cities and provinces
(hereinafter referred as provincial- level People’s Committee).
8. Price registration means
making, analyzing the forming of price level and sending price notice under
form to competent State agencies before adjusting prices of goods or services
in the List of goods or services executing price stabilization by production or
business organizations and individuals in the time as the State applies methods
of price stabilization.
9. Price declaration means
sending price notice of goods or services to competent State agencies by
production or business organizations and individuals as determining prices,
adjusting prices for goods or services be subjects to declare the price.
10. Price stabilization means
applying appropriate methods on making the supply and demand, finance, monetary
equable and other necessary methods on economy, administrative by the State to
impact on forming and moving of prices, do not let prices of goods or services
irrationally raise too high or decrease too low.
11. Elements of price formation
mean the wholly cost price that is actual, reasonable and correspondence with
quality of goods or services; profit (if any); financial obligations as
prescribed by law; invisible value of trade mark.
12. The wholly cost price of
goods or services means cost price to consume goods or services, including:
a) The cost price to manufacture
goods or services; buy price of goods or services for organizations,
individuals operating trade.
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13. Price level means the
average level of price level of goods or services in the economy correspond to
certain space and time and being measured by index of consumption price.
14. The irregular changed price
means price of goods or services that is irrationally raise too high or decrease
too low while Elements of price formation have not many changes or in cases of
economic crisis, natural disasters, enemy sabotage, fires, epidemics.
15. Price appraisal means
determination of value in money of types of properties by agencies, organizations
having function of price appraisal as prescribed in the Civil Code that is
suitable with market price at a point of time, a certain location, for a
certain purpose according to standard of price appraisal.
16. Report of price-appraising
result means document made by price-appraising enterprise in which shall state
clearly process of price appraisal, price-appraising result and opinion of
price-appraising enterprise regarding to value of appraised property for
customers and relevant parties to have basis and use for purposes being written
in the contract of price appraisal.
17. Certificate of price
appraisal means document made by price-appraising enterprise in order to inform
to customers and relevant parties of basic contents of Report of price-appraising
result.
18. The average electric retail
price level means electric sale price being defined under the principle of
calculating sum of business or production cost and average reasonable profit
level for 01 kWh commercial electric in each period, that being used with
structure of electric retail tariff for calculating the particular electric
retail price for each electric using customer object.
19. Price frame of average
electric retail price means distance between the minimum price level and the
maximum price level of average electric retail price.
20. The structure of electric
retail tariff means the list of particular price level or percentage rate (%)
of average electric retail price level to calculate the particular electric
retail price for each electric using customer object.
Article 5.
The principle of price management
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2. The State regulates prices as
prescribed in this Law to stabilize prices, protect legitimate rights and
interests of production or business organizations and individuals, consumers
and interest of the State.
3. The State has policies on
prices aiming to support areas with difficulty social and economical
conditions, areas with special difficulty social and economical conditions.
4. The State stipulates
principles, methods of price determination for goods or services being defined
prices by the State complying with principle of market economy.
Article 6.
Publicity of price information
1. The state agencies implement
publicity of guidelines, policies, methods of management, regulation, decision
on prices of the State under one or some forms such as press conference,
posting on mass media means or other appropriate forms.
2. Organizations and individuals
that product, business goods or services shall implement publicity of price
information of goods or services attaching to basic technical – economical
parameter of such goods or services under form of posting up prices. For goods
or services under the List of goods or services implementing price
stabilization, the List of goods or services being defined prices by the State,
the production or business organizations and individuals shall select for
additional one or some forms such as press conference, posting on mass media
means or other appropriate forms.
3. Agencies of communication and
information shall be responsible for publishing news on prices exactly,
objectively, honestly and take responsibility for publishing news as prescribed
by law.
4. The publicity of price
information stipulated in this article shall not apply to the information that
not permitted to publish as prescribed by law.
Article 7.
The content of State management in the price field
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2. Promulgating legal documents
in the price field.
3. Determination of price of
goods or services in the List of goods or services defined price by the State;
appraising price of state properties under function, duties and powers as
prescribed by law.
4. Colleting, synthesizing,
analyzing and forecasting the market prices in domestic and in the world to
formulate the the database on prices to serve state management in the price
field.
5. Management of traning,
fostering professional skills specialized in price appraisal; management of
examination, issuance and withdrawing the card of price appraiser, the eligible
certificate of service business of price appraisal.
6. Organizing and managing of
science research, international cooperation, training and fostering for cadres
in price field.
7. Examining, inspecting,
settling complaints, denunciations and handling violations of law in the price
field.
Article 8.
Competence for State management over prices
1. The Government shall exercise
the unified State management over prices throughout the country.
2. The Ministry of Finance shall
take responsibility for performance of function of state management in price
field.
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4. The provincial level People’s
Committees shall, within the scope of their tasks and powers, perform the function
of State management over prices in their localities as prescribed by law
Article 9.
Specialized price inspectorate
1. The State management agencies
in charge of prices shall perform the function of specialized price
inspectorate as prescribed by law on inspection.
2. The specialized price
inspectorate means inspection of complying with the legislation on prices as
prescribed by this law and other relevant law provisions.
3. Rights and responsibilities
of specialized price inspectorate; rights and obligations of organizations and
individuals when they are object of inspection and relevant organizations,
individuals shall comply with provisions of inspection law.
Article 10.
Prohibited acts in price field
1. For agencies having state
management competence on prices; cadres, civil servants under agencies having
state management competence on prices:
a) Interfering wrongly
functions, duties, powers as prescribed by law in rights and obligations of
organizations, individuals manufacturing and business in price field.
b) Promulgating documents that
is not duly authorized; not duly order, procedures;
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d) Misusing functions, powers,
duties for self-seeking interests.
2. For business or production
organizations, individuals:
a) Fabricating and/or spreading,
publishing untrue news on market situation, prices of goods or services.
b) Defrauding on prices by
intentional changing the committed content of time, place, condition of
purchase, quality of goods or services at the time of delivery of goods,
supplying service without advance notice to customer.
c) Taking advantage of economic
crisis, natural disasters, enemy sabotage, fires, epidemics and/or other
abnormal circumstances; taking advantage of State policy to define buy prices,
sale prices of goods or services unreasonably;
d) Acts of transfer pricing,
collusion on prices under all forms for profiteering.
3. For price-appraising
enterprise, branch of price-appraising enterprise:
a) Scrambling customers under
forms as inhibitory, threaten, enticement, bribery, collusion with customers
and other unfair competitive acts; giving inexact information on comprehension,
experiences and capacity of supplying service of price appraiser;
price-appraising enterprise, branch of price-appraising enterprise;
b) Collusion with
price-appraising customers, relevant persons upon appraising prices to falsify
result of price appraisal;
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d) Forging, leasing, lending;
using card of price appraiser contrary to laws on prices;
dd) Revealing information of
dossier, price-appraising customers and assets being appraised, except being
agreed by price-appraising customers or being permitted by law;
e) Causing obstacle or
interfering in work manage of organizations, individuals having demand of price
appraisal upon they have performed right functions, duties as prescribed by
law.
4. For appraisers on price
practising, in addition to provisions in clause 3 of this article, they do not
permit to perform the following acts:
a) Practising of price appraisal
with individual status;
b) Registering for
price-appraising practising for two or more price-appraising enterprises at the
same time:
c) Performing price appraisal
for units in which the price appraisers has relation of capital contribution,
buying shares/bond or their parents, spouses, children, blood siblings are
members in the Leader Board or chief accountant thereof.
5. For organizations,
individuals having assets for price appraisal and organizations, individuals
relating to using result of price appraisal:
a) Selecting organizations,
individuals who are not eligible of practising price appraisal to sign
price-appraising contract;
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c) Bribery, collusion with price
appraisers, price-appraising enterprises to falsify result of price appraisal.
Chapter II
RIGHTS AND OBLIGATIONS
OF BUSINESS OR PRODUCTION ORGANIZATIONS, INDIVIDUALS AND CONSUMERS IN PRICE
FIELS:
Article 11.
Rights of business or production organizations, individuals:
1. Self-determining prices of
goods or services which they manufacture, business, except for goods or
services under the List of goods or services defined prices by the State.
2. Deciding buying/sale prices
of goods or services which they manufacture, business, and the State stipulated
frame of prices, maximum prices, minimum prices.
3. Bidding, auction, price
agreement, price negotiation and price competition under other forms as prescribed
by law upon buying or selling goods or services.
4. Applying principles, grounds,
and methods of price determination prescribed by the State to determine prices
of goods or services.
5. Adjusting prices of goods or
services which they manufacture, business in accordance to changes of elements
forming prices.
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a) Fresh goods;
b) Inventory goods;
c) Seasonal goods or services;
d) Goods or services for
promotion as prescribed by law;
dd) Goods or services of enterprises
in cases of bankruptcy or dissolution; changing locations, business/production
trades;
e) Goods or services upon
performing policy on price stabilization of the State.
7. Proposing competent State
agencies to adjust prices of goods or services which they manufacture, business
in the List of goods or services defined prices by the State.
8. Reaching information on price
policy of the State; measures of managing and regulating prices of the State
and other publicity information.
9. Complaints, denunciations or
suing against acts having signs of violation of law on prices; requiring
organizations, individuals compensating due of acts violating laws on prices as
prescribed by law.
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1. Making price plan for goods
or services which they manufacture, business in the List of goods or services
defined prices by the State and submitting to authorities for decision.
2. Complying with decisions on
prices, measures of price stabilization of competent State agencies.
3. Registering sale prices or
buying prices for goods or services being subject to register price and taking
responsibility for exactness of registered price level as prescribed by law.
4. Declaring sale prices or
buying prices for goods or services and taking responsibility for exactness of
declared price level for goods or services be subject to declare prices under
provisions of Government.
5. Posting up prices:
a) For goods or services being
defined prices by the State, the production or business organizations,
individuals must post up prices exact with prices stipulated by competent State
agencies and exactly buy, sell under posted prices;
b) For goods or services not in
the List of goods or services being defined prices by the State, the production
or business organizations, individuals shall decide prices for posting up and
not permitted to buy, sell with prices higher than posted prices;
6. Publicity of information on prices
of goods or services within their authority of determining prices as prescribed
in this Law.
7. Timely, exactly, completely
supplying relevant figures, documents at the requirement in written of
competent State agencies in cases prices being determined by the State,
measures of price stabilization for goods or services of the production or
business organizations, individuals being applied.
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Article 13.
Rights of consumers
1. Selecting, making agreement
and giving opinions when buying goods or service.
2. Being supplied information
exactly, fully about prices, quality, and origins of goods or services.
3. Asking for compensation upon
the goods or services having bought did not meet the standard of quality,
quantity, price or other content which have been published, posted up, commited
by organizations, individuals manufacture and business such goods or services.
4. Proposing competent State
agencies to adjust prices of goods or services being defined prices by the
State when elements forming prices change.
5. Complaints, denunciations,
suing or proposing social organizations suing against acts having signs of
violation of law on prices under provisions of this law or other provisions of
relevant laws.
Article 14.
Obligations of consumers
1. Paying under the price level
which had agreement, selected or price level was stipulated by the State when
buying goods or service.
2. Notifying to relevant state
agencies, organizations, individuals upon detecting acts having signs of
violating law on prices.
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OPERATION ON REGULATING
PRICES OF THE STATE
Section 1.
PRICE STABILIZATION
Article 15.
Goods or services implement price stabilization
1. Goods or services
implementing price stabilization are essential goods or services for
production, life being stipulated under the following criterions:
a) Raw materials, fuel,
materials and main service for production and circulation;
b) Goods or services satisfying
basic demands of human.
2. The List of goods or services
implementing price stabilization includes:
a) Finished petrol, oil;
b) Electricity;
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d) Nitrogenous fertilizer, NPK
fertilizer;
dd) Pesticide as prescribed by
law;
e) Prevention vaccine for
cattle, poultry;
g) Edible salt;
h) Milk for children under 06
years old;
i) Edible sugar, including white
sugar and affinated sugar;
k) Paddy, ordinary rice;
l) Drugs for human disease
prevention and treatment in the List of essential medicines using at
establishments of medical examination and treatment as prescribed by law.
3. If neccessary, the List of
goods or services implementing price stabilization stipulated in clause 2 of
this article may be adjusted, the Government shall submit to the Standing
Committee of National Assembly for consideration and decision.
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Article 16.
Cases implement price stabilization
1. Price stabilization is
implemented in the following cases:
a) Upon prices of goods or
services in the List prescribed in clause 2, article 15 of this Law have
irregular changes;
b) Upon price level changes
affecting socio-economic stabilization.
2. The Government shall detail
this article.
Article 17.
Measures for price stabilization
Applying in limit time a or a
number of the following measures to implement price stabilization conformable
to cases prescribed in article 16 of this Law:
1. Making the supply and demand
equable of goods produced in domestic and import – export goods; goods in
regions, localities in the national through operation of goods circulation; buy
or sale out the national reserve goods, circulating reserve goods;
2. Measures of finance, monetary
conformable to provisions of laws;
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Fund of price stabilization is
established from the following sources:
a) Deducting from price of goods
or services;
b) Voluntary contribution by
organizations, individuals;
c) Aid of foreign countries;
d) Other legitimate financial
sources.
The Government shall stipulate
in details in regarding to items being established fund of price stabilization,
establishment, management and use of fund of price stabilization;
4. Price registration for goods
or services subject to price stabilization. The production or business
organizations, individuals implement price registration only for goods or
services subject to price stabilization in the time the State applies methods
of price stabilization.
5. Examining elements forming
prices; controlling inventory goods; examining quantity, volume of available
goods;
6. Applying supporting measures
of price conformable to provisions of laws and international commitments;
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Article 18.
Competence and duty upon deciding on applying price stabilization measure
1. The Government decides
guidelines and measures of price stabilization regarding to cases prescribed in
article 16 and article 17 of this Law.
2. The Ministry of Finance,
ministries, ministerial-level agencies shall, under their functions, duties,
powers assigned by the Goverment, guide and organize implementation of price
stabilization measure being decided by the Government.
3. Provincial People’s
Committees shall, within their functions, duties, powers, organize executing
price stabilization measure being decided by the Government and guided by the
Ministry of Finance, ministries, ministerial-level agencies; in cases of
natural disaster, fires, epidemics, unexpected accidents, base on actual
situation at their localities, decide particular price stabilization measure at
such localities.
4. Agency promulgating decision
on applying price stabilization measure shall be responsible for decision on
limit time for applying price stabilization measure.
5. Agency or individual deciding
on applying price stabilization measure shall be responsible for such decision
as prescribed by law.
6. The Government shall detail
this article.
Section 2.
PRICE DETERMINATION
Article 19.
Goods or services being defined prices by the State
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a) Goods or services under
monopoly field in which the State manufacture, business;
b) Important resources;
c) National reserve goods;
products, services for public interest and service of public career using state
budget.
2. Forms of price determination:
a) Particular price level;
b) Price frame;
c) Maximum price level, minimum
price level.
3. The List of goods or services
being defined prices by the State is stipulated as follows:
a) Defining particular price
level for:
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- Service of telecommunication
connection;
- Electricity: Prices of
electric transmit; prices of Auxiliary services for electric system;
b) Defining price frame for:
Prices of electricity generation; prices of electricity trading; the level of
average electricity retail price; services of domestic air transport with monopoly
route;
c) Defining price frame and
particular price level for:
- Land, surface water,
underground water, forest belong to the all-people possession which the State
is representative of owner and clean water for living;
- Price of leasing,
hire-purchasing for social house, house of public service which be build from
state budget outlays; buy prices or leasing prices for house belong to state
possession;
- Services of medical
examination and treatment and services of education, traning at medical
examination and treatment establishments, traning and education facilities of
the State;
d) Defining maximum price or
minimum price for:
- National reserve goods as
prescribed by law on National reserve; goods or services being placed an order,
assigned under business and production plans by the State; products, services
for public interest and service of public career using state budget, except for
services prescribed in point c, clause 3 of this article.
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- Price of leasing for state
assets being infrastructure works.
4. If neccessary, the List of
goods or services being defined prices by the State may be adjusted, the
Government shall submit to the Standing Committee of National Assembly for
consideration and decision.
Article 20.
Principle of price determination of the State
1. Assurance of remedying actual
and reasonable cost in production, business, having profit conformable to price
level of market and guidelines, policies on social economical development of the
State in each periods.
2. Timely adjusting prices upon
elements forming them change.
Article 21.
Grounds, methods of price determination
1. Grounds of price
determination
a) Wholly cost price, quality of
goods or services at the time point of price determination; expected profits
level;
b) Relation between supply and
demand of goods or services and purchasing power of currency; solvency of
consumers;
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2. Methods of price
determination:
a) The Ministry of Finance
stipulates general methods of price determination for goods or services;
b) Ministries, ministerial-level
agencies shall assume the prime responsibility for and coordinate with the
Ministry of Finance to guide methods of price determination for goods or
services under their competence.
Article 22.
Competence and duty of price determanition
1. The Government stipulates:
b) Land price frame;
b) Price frame of leasing
surface water;
c) Price frame of leasing,
hire-purchasing for social house, house of public service.
2. The Prime Minister stipulates
price frame of average electricity retail, mechanism of price adjustment and
structure of electricity retail tariff.
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4. Agencies, individuals
deciding price determination for goods or services in the List of goods or
services defined price by the State shall be responsible for their decision
before the law.
Section 3.
PRICE NEGOTIATION
Article 23.
Cases organize price negotiation
1. Price negotiation implements
for goods or services satisfying the following conditions:
a) Goods or services not being
in the List of goods or services defined prices by the State;
b) Goods or services being
important, produced, business in specific conditions or having restrained
competitive market; having nature of buy or sale monopoly or the buyer and
seller are dependent together, cannot replace.
2. Competent State agencies
organize price negotiation for goods or services prescribed in clause 1 of this
article in the following cases:
a) Upon having suggection of the
buyer or the seller or both of the buyer and the seller;
b) Upon having request of the
Prime Minister, Ministers, Heads of ministerial-level agencies, Heads of
Governmental agencies, Presidents of provincial People’s Committee.
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1. The Ministry of Finance shall
assume the prime responsibility for organizing price negotiation at the request
of the Prime Minister, Ministers, Heads of ministerial-level agencies, Heads of
Governmental agencies.
2. The Service of Finance shall
assume the prime responsibility for organizing price negotiation at the request
of Presidents of provincial People’s Committee or upon having suggestion of the
buyer or the seller or both of the buyer and the seller which having offices
located in their areas. If the buyer and the seller having offices located in
different provinces and suggesting price negotiation, two parties reach
agreement to suggest one of two Services of Finance to prime responsibility for
negotiation; if they cannot reach agreement, the Services of Finance where the
buyer’s office locates, shall assume the prime responsibility for negotiation.
3. Agency organizing price negotiation
shall be responsible for performance as prescribed by law.
Article 25.
Result of price negotiation
1. Agency organizing price
negotiation shall notify parties in written of price level which have been
agreed after negotiation.
2. Whether price negotiation has
been performed, but parties still not reach agreement on price, agency
organizing price negotiation shall decide temporary price for parties to
execute.
Decision on temporary prices
being notified by agency organizing price negotiation shall take effect at the
maximum of 06 months. While executing the decision on temporary prices, parties
continue to negotiate on prices. If parties reach agreement on prices, the
agreed prices shall be executed and parties shall be responsible for reporting
to agency organizing price negotiation to know agreed prices and period of
performance
After limit time of 06 months,
if parties cannot reach agreement on prices, the authorities shall organize
price negotiation for the second time. If parties still can not reach agreement
on prices, decision on temporary prices shall continue to take effect for
implementation until reaching agreement on prices.
Section 4.
EXEMINATION OF ELEMENTS FORMING PRICES
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1. Competent State agencies
examine elements forming prices for goods or services prescribed in clause 2 of
this article in the following cases:
a) When competent State agencies
decide on price stabilization, price determination;
b) When prices having irregular
changes and at request of the Prime Minister, Ministers, Heads of
ministerial-level agencies, Presidents of provincial People’s Committee.
2. Goods or services must
examine elements forming prices including:
a) Goods or services being
defined prices by the State;
b) Goods or services implement
price stabilization;
b) Other goods or services when
their prices having irregular changes and at request of the Prime Minister,
Ministers, Heads of ministerial-level agencies, Presidents of provincial People’s
Committee.
Article 27.
Competence and duty of examining elements forming prices
1. The Ministry of Finance shall
assume the prime responsibility for and coordinate with Ministries,
ministerial-level agencies, provincial People’s Committees to examine elements
forming prices for:
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b) Goods or services in the List
of goods or services implementing price stabilization stipulated in article 17
of this Law.
2. Ministries, ministerial-level
agencies shall assume the prime responsibility for and coordinate with the
Ministry of Finance, provincial People’s Committees to examine elements forming
prices for goods or services under price determination competence of ministers,
heads of ministerial-level agencies.
3. Provincial People’s
Committees examinate elements forming prices for:
a) goods or services under price
determination competence of provincial People’s Committees;
b) Goods or services in the List
of goods or services implementing price stabilization of production or business
organizations and individuals in their localities.
Chapter IV
PRICE APPRAISAL
Section 1.
GENERAL PROVISIONS ON PRICE APPRAISAL
Article 28.
Price-appraising operations
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2. Individuals shall not be
entitled to operate price appraisal independently.
3. Price-appraising operations must
comply with provisions on price appraisal of this Law.
Article 29.
Principle of price-appraising operations
1. Observing laws, Vietnamese
price-appraising standard
2. Taking responsibility for
price-appraising operations as prescribed by law.
3. Assurance of independence on
professional, honesty, objective in price-appraising operation and result of
price appraisal.
4. Keeping information in secret
as prescribed by law;
Article 30.
Process of asset price appraisal
1. Defining on assets for price
appraisal in general and defining the market or non-market price making as
bases for price appraisal.
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3. Surveying reality, collecting
information.
4. Analyzing information.
5. Defining value of asset being
appraised price.
6. Making report on result of
price appraisal, price-appraising certificate and sending to customers,
relevant parties.
Article 31.
Assets being appraised price
1. Assets of organizations,
individuals having demand on price appraisal.
2. Assets which the State must
appraise price as prescribed by law on management, use state's assets and other
provisions of relevant law.
Article 32.
Result of price appraisal
1. Result of price appraisal
shall be used as one of grounds for agencies, organizations and individuals
being owners or having right of using assets as prescribed by law and relevant
parties to consider, decide or approve price for such assets.
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3. Result of price appraisal is
used only in the effect period being written in report of price-appraising
result and price-appraising certificate.
Article 33.
Professional organization of price appraisal
1. The career organization of
price appraisal is established and operated under provisions of laws on
association and laws on price appraisal.
2. The career organization of
price appraisal is entitled to train, grant certificate of fostering professional
knowledge on price appraisal and perform duties relating to price-appraising
operation as prescribed by law.
Section 2.
PRICE APPRAISER
Article 34.
Criterion of price appraiser
1. Possessing civil act
capacity.
2. Possessing ethics quality,
integrity, honesty, objective.
3. Graduating university in
specialty related to price-appraising operations.
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5. Possessing the certificate of
professional training in price-appraising operations, granted by competent
agencies.
6. Possessing card of price
appraiser as prescribed by the the Ministry of Finance.
Article 35.
Practising price appraiser
1. Practising price appraiser is
person having full criterion specified in article 34 of this Law and
registering for practicing price appraisal in a price-appraising enterprise.
2. Rights and obligations of
price appraiser practising in price-appraising enterprises are stipulated in
article 34 of this Law.
Article 36.
Persons are not entitled to practise in price-appraising enterprises
1. Persons are not full
criterions specified in article 34 of this Law.
2. Cadres, public employees as
prescribed by law on Cadres, public employees; officers, professional soldiers,
defense workers in agencies, units under People’s army; officers, profession
non-commissioned officers, officers, technical specialized non-commissioned officers
in agencies, units under People’s Security Public.
3. Persons being banned to
practise on price appraisal by effective judgements, decisions of Court,
persons being prosecuted criminal liability; convicted persons for one of
crimes of economy, position relating to finance, prices, price appraisal and
not being yet wiped out their criminal records; persons being applied measures
of administrative handling, educating in communes, wards and townships, persons
being sent into compulsory detoxification centers, compulsory educational
facilities.
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5. Persons having acts violating
laws on finance and being sanctioned administrative violation in duration of 01
year, since day of having sanctioning decision.
6. Persons being suspended for
practicing price appraiser.
Article 37.
Rights and obligations of practising price appraiser
1. Rights of practising price
appraiser:
a) Price-appraising practicing
under provisions of this Law and other provisions of relevant laws.
b) Being independent on career
skill, professional;
c) Requiring customers to supply
dossiers, documents relating to assets being appraised and facilitate to
implement price appraisal;
d) Refusing price appraisal if
deem it is not eligible to implement price appraisal;
dd) Participating in domestic
and foreign professional organizations of price appraisal as prescribed by law;
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2. Obligations of practising
price appraiser:
a) Complying with provisions on
price-appraising operation under provisions of this Law and other provisions of
relevant laws;
b) Performing rightly and fully
contract of price appraisal;
c) Signing report on result of
price appraisal, certificate of price appraisal and taking responsibility
before law, the legal representatives, general Directors of Directors of
price-appraising enterprises for result of price appraisal;
d) Providing explanation or
protecting result of price appraisal which is implemented by them for the
price-appraising customers or the third party using result of price appraisal,
that is not the price-appraising customer but in the contract of price
appraisal have written, upon being requested;
dd) Participating in programs on
fostering professional knowledges of price appraisal organized by permitted
agencies or institutions;
e) Keeping dossiers, documents
on price appraisal;
g) Other obligations as
prescribed by law.
Section 3.
PRICE-APPRAISING ENTERPRISES
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1. Price-appraising enterprises
are established under provisions of Law on enterprises.
2. Price-appraising enterprises
may operate upon the the Ministry of Finance grants the eligible certificate of
business price appraisal service as prescribed by law.
Article 39.
Conditions for granting the eligible certificate of business price appraisal
service.
1. One-member limited liability
companies when requesting for grant of the eligible certificate of business
price appraisal service must have full the following conditions:
a) Having Certificate of
Business registration, certificate of Enterprise registration or certificate of
investment as prescribed by law;
b) Having at least 03 appraisers
on prices registering practice in such enterprises, and among them must have a
member is owner thereof;
c) The legal representatives,
Directors or general Directors of one-member limited liability companies must
be price appraiser registering practice in such enterprises.
2. The limited liability
companies with two or more members when requesting for grant of the eligible
certificate of business price appraisal service must have full the following
conditions:
a) Having Certificate of
Business registration, certificate of Enterprise registration or certificate of
investment as prescribed by law;
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c) The legal representatives,
Directors or general Directors of limited liability companies with two or more
members must be price appraiser registering practice in such enterprises.
d) The contribution capital of
members being organization shall not exceed the level of contribution capital
stipulated by the Government. The representative of member being organization
must be price appraiser and register practice in such enterprise.
3. Partnerships when requesting
for grant of the eligible certificate of business price appraisal service must
have full the following conditions:
a) Having Certificate of
Business registration, certificate of Enterprise registration or certificate of
investment as prescribed by law;
b) Having at least 03 appraisers
on prices registering practice in such enterprises, aomong that at least must
have 02 General partners;
c) The legal representatives,
Directors or general Directors of Partnerships must be price appraiser
registering practice in such enterprises.
4. Private enterprises when requesting
for grant of the eligible certificate of business price appraisal service must
have full the following conditions:
a) Having Certificate of
Business registration, certificate of Enterprise registration or certificate of
investment as prescribed by law;
b) Having at least 03 appraisers
on prices registering practice in enterprises, and among them must have a
member is owner of Private enterprises;
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5. Joint-stock companies when
requesting for grant of the eligible certificate of business price appraisal
service must have full the following conditions:
a) Having Certificate of
Business registration, certificate of Enterprise registration or certificate of
investment as prescribed by law;
b) Having at least 03 appraisers
on prices registering practice in such enterprises, aomong that at least must
have 02 Founding shareholders;
c) The legal representatives,
Directors or general Directors of Joint-stock companies must be price appraiser
registering practice in such enterprises.
d) The contribution capital of
members being organization shall not exceed the level of contribution capital
stipulated by the Government. The representative of member being organization
must be price appraiser and register practice in such enterprise.
6. The Government stipulates
order of, procedures for granting the eligible certificate of business price
appraisal service.
Article 40.
Suspending business price appraisal service and withdrawing the eligible
certificate of business price appraisal service
1. Price-appraising enterprises
may be suspended business price appraisal service when belong to one of the
following cases:
a) Do not ensure one of conditions
specified in clause 1, 2, 3, 4 and 5, article 59 of this Law during 03
consecutive months;
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2. Price-appraising enterprises
shall be withdrawn the eligible certificate of business price appraisal service
when belong to one of the following cases:
a) Declaring wrong or cheating,
forging dossier of request for granting the eligible certificate of business
price appraisal service;
b) Do not business price
appraisal service for 12 consecutive months;
c) Do not overcome violations
specified in clause 1 of this article within 60 days, since being suspended;
d) Being dissolved, bankrupted
or self-ending business operation on price appraisal
dd) Being withdrawn Certificate
of Business registration, certificate of Enterprise registration or certificate
of investment;
3. Price-appraising enterprises
being withdrawn the eligible certificate of business price appraisal service
shall end business operation on price appraisal since decision on withdraw
taking effect
4. The Government provides in
details on suspending business price appraisal service and withdrawing the
eligible certificate of business price appraisal service
Article 41.
Branch of price-appraising enterprise
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2. Branch of price-appraising
enterprise is established and operated as prescribed by law and must have at
least 02 appraisers on prices and among them, director of branch must be price
appraiser registering practice at enterprise which have established such
branch;
3. Price-appraising enterprises
must be responsible for operations of price-appraising branch being established
by itself.
Article 42.
Rights and obligations of price-appraising enterprises
1. Rights of price-appraising
enterprises
a) Suppying service of price
appraisal;
b) Collecting fee for
price-appraising service under the agreed price with customers and being
written in contract;
c) Establishing Branches of
price-appraising enterprise;
d) Placing establishments
business service on price-appraising overseas;
dd) Participating in domestic
and foreign professional organizations of price appraisal as prescribed by law;
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g) Refusing performance of
price-appraising service requested by customers
h) Other rights as prescribed by
law.
2. Obligations of
price-appraising enterprises:
a) Complying with provisions on
price-appraising operation under provisions of this Law and the Law on
Enterprise’
b) Supplying report on result of
price appraisal and the price-appraising certificate for customers and the
third party using result of price appraisal under signed contract of price
appraisal;
c) Taking responsibility of
accuracy, honesty, objective of the price-appraising result
d) Buying professional liability
insurance for the price-appraising operation or deducting fund of professional
risk backup;
dd) Compensating for customers
as prescribed by law because violating agreements in contract of price appraisal
and in case result of price appraisal causing damage to interest of customers
due to not complying with provisions on price appraisal;
e) Managing professional
activities of price appraisers under their authorities;
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h) Keeping dossiers, documents
on price appraisal;
i) Other obligations as
prescribed by law.
Article 43.
Operations of foreign price-appraising organizations in Vietnam
1. The foreign price-appraising
organizations being eligible as prescribed by this Law and other provisions of
relevant laws may implement operations of price appraisal in Vietnam.
2. The establishment and
operation of the foreign price-appraising organizations in Vietnam shall comply
with provisions of this Law and other provisions of relevant laws.
3. The Government provides
forms, scope of supplying the price-appraising service of foreign
price-appraising organizations in Vietnam
Section 4.
PRICE-APPRAISING OF THE STATE
Article 44.
The scope of state price-appraising operation
The state price-appraising
operation shall be implemented by competent state agencies in the following
cases:
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2. Failing to hire
price-appraising enterprise;
3. Buy, sale of assets under
state secret;
4. Buy, sale of assets with big
value which after having hired the price-appraising enterprise, agencies or
competent persons for approval consider it is necessary to have appraisal
opinion of competent state agencies.
Article 45.
Methods of state price-appraising operation
1. As necessary, competent state
agencies shall establish council of price appraisal to appraise price in
respect to cases specified in Article 44 of this Law. The council of price
appraisal shall be dissolved after finishing task.
2. The council of price
appraisal has responsibility for price appraisal under provisions of this Law,
other provisions of relevant law and has responsibility for accuracy, honesty
of the price-appraising result.
Article 46.
Order of and procedures for state price appraisal
The Goverment provides in
details on order of and procedures for state price appraisal
Chapter V
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Article 47.
Effects
This Law takes effect from
January 01, 2013.
The Ordinace of prices No.
40/2002/PL-UBTVQH10 is invalid from effective day of this Law.
Article 48.
Stipulating in details and guiding for implementation
The Government shall stipulate in
details and guide for implementation of articles, clauses assigned in this Law.
This Law was passed by the
XIII National Assembly of the Socialist Republic of Vietnam at its Third
Session on the 20th of June, 2012.
CHAIRMAN
OF THE NATIONAL ASSEMBLY
Nguyen Sinh Hung
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