DECREE

DETAILING IMPLEMENTATION OF A NUMBER OF ARTICLES OF THE PRICE LAW ON APPRAISAL OF PRICES

Pursuant to December 25, 2001 Law on organization of Government;

Pursuant to the June 20, 2012 Price Law;

Pursuant to the November 29, 2008 Law on enterprise;

At the proposal of the Minister of Finance;

The Government promulgates the Decree detailing implementation of a number of articles of the Price Law on appraisal of prices,

Chapter 1.

GENERAL PROVISIONS

Article 1. Scope of regulation

This Decree detailing implementation of a number of articles of the Price Law on appraisal of prices, including: Content and state management authority on appraisal of prices; criteria on appraisal of prices in Vietnam; criteria and cards of price appraisers, professional organizations for appraisal of prices; prices of price appraisal services; orders of and procedures for issuance, withdrawal of certificate of eligibility for business in price appraisal services; suspension of business in price appraisal services; forms and scopes of appraising-price service provision of foreign organizations for appraisal of prices in Vietnam; orders of and procedures for appraisal of prices by State.

Article 2. Subjects of application

This Decree applies to: Price appraisers, enterprises of appraisal of prices; competent state agencies and cadres, civil servants who are assigned task of appraisal of prices; the appointing agencies or organizations and individuals who are appointed by such agencies or organizations to join the Council of appraisal of prices; agencies, organizations and individuals who have assets subject to appraisal of prices or have request, suggestions for appraisal of prices; professional organizations for appraisal of prices; state management agencies for appraisal of prices and other agencies, organizations and individuals related to appraisal of prices.

Article 3. Interpretation of terms

In this Decree, the following terms will be construed as follows:

1. The price appraisal enterprises mean enterprises that are established and operate in accordance with Law on enterprises and granted certificate of eligibility for business in price appraisal services as prescribed by law.

2. The price appraisal customers include organizations, individuals hiring the price appraisal enterprises to provide for price appraisal services under contracts of appraisal of prices or documents requesting, suggesting for appraisal of prices.

3. Professional organizations for appraisal of prices means social-professional organizations established in accordance with law on the basis of the voluntary participation of price appraisers, the price appraisal enterprises, and other organizations and individuals relating to appraisal of prices.

4. The Vietnam price appraisal Criteria mean provisions on professional knowledge, skills, and ethics in practicing appraisal of prices that are used as the standards in serve of activities including appraising prices of assets, assessing results and quality of activities of appraisal of prices in Vietnam.

Article 4. Content of state management on appraisal of prices

1. Formulating, directing implementation of strategies and plans on development of price appraisal profession in Vietnam.

2. Promulgating and organizing implementation of legal documents on appraisal of prices, criteria of appraisal of prices in Vietnam.

3. Appraising prices of state-owned assets as prescribed in this Decree and relevant legal documents.

4. Prescribing the regimes of report, collection and summarizing of information in order to build database in serve of the information provision and state management on appraisal of prices.

5. Managing the training, re-training of professional operations on appraisal of prices; managing and organizing examination, grant and withdrawal of price appraiser cards, grant and withdrawal of certificate of eligibility for business in price appraisal services.

6. Examining, inspecting, and solving complaints or denunciation and handling acts breaching law on appraisal of prices.

7. Organizing and managing the science research, international cooperation on appraisal of prices.

Article 5. Competence of state management on appraisal of prices

1. The Government performs the unified state management over activities of appraisal of prices.

2. The Ministry of Finance shall be responsible before the Government for performing the function of state management on appraisal of prices and have the following tasks and powers:

a) Formulating, submitting to the Government for deciding strategies and plans on development of price appraisal profession in Vietnam;

b) Formulating and submitting the Government for promulgating, under its competence, legal documents on appraisal of prices, criteria of appraisal of prices in Vietnam;

c) Organizing implementation of strategies and plans on development of the price appraisal profession, legal documents on appraisal of prices, criteria of appraisal of prices in Vietnam;

d) Prescribing the conditions for participating in examinations, organization of examinations and conditions to grant cards of price appraisers; management, grant and withdrawal of cards of price appraiser;

dd) Prescribing the training, grant of certificate of training the professional operations on price appraisal; re-training specialized knowledge on appraisal of prices for the practicing price appraisers;

e) Prescribing the organization and management of science research, training, retraining for cadres, civil servants about appraisal of prices;

g) Prescribing the model, grant and withdrawal of certificate of eligibility for business in price appraisal services; prescribing the registration and management of practicing appraisal of prices; publicizing the list of the practicing price appraisers and list of the price appraisal enterprises in nationwide;

h) Prescribing the purchase of professional liability insurance for activities of appraisal of prices or the setting up of the reserve fund for professional risks applicable to the price appraisal enterprises;

i) Performing state management in appraisal of prices in respect to the price appraisal enterprises, professional organizations of appraisal of prices as prescribed by law;

k) Performing international cooperation on appraisal of prices;

l) Inspecting, examining, and solving complaints or denunciation and handling acts breaching law on appraisal of prices;

m) Summing up, assessing on activities of appraisal of prices; prescribing the quality control of appraisal of prices and the compliance with regulation of State on appraisal of prices;

n) Performing appraisal of prices or taking responsibility for organization of appraising price of state-owned assets at the request of the Government, the Prime Minister;

o) Prescribing the regimes of report, collection and summarizing of information in order to build database in serve of the information provision and state management on appraisal of prices.

3. Ministries, Ministerial-level agencies, Governmental agencies shall have following tasks and powers:

a) Performing the state management over activities of appraisal of prices within their tasks and powers;

b) Assigning and organizing the appraisal of prices of state-owned assets specified in Clause 2 Article 31 and Article 44 of the Price Law, that are managed by Ministries, Ministerial-level agencies, Governmental agencies in accordance with regulation on decentralization for management and use of state-owned assets; regulation on decentralization in management of state budget and regulation of relevant law;

c) Inspecting, examining, and solving complaints or denunciation and handling acts breaching law on appraisal of prices under their management.

4. People’s Committees of provinces and central-affiliated cities shall have following tasks and powers:

a) Performing the state management over activities of appraisal of prices within their management;

b) Assigning and organizing the appraisal of prices of state-owned assets specified in Clause 2 Article 31 and Article 44 of the Price Law, that are managed by localities in accordance with regulation on decentralization in management and use of state-owned assets; regulation on decentralization in management of state budget and regulation of relevant law;

c) Inspecting, examining, and solving complaints or denunciation and handling acts breaching law on appraisal of prices under their management.

Article 6. The Vietnam Criteria of appraisal of prices

1. System of Vietnam criteria of appraisal of prices includes criteria guiding on ethical rules of practicing appraisal of prices; economical principles that govern activities of appraisal of prices; market value and non-market value serving as basis for appraisal of prices of assets; classification of assets; process of appraisal of prices of assets; report on results of appraisal of prices, record and certificate of appraisal of prices of assets; measures to access and methods of appraisal of prices.

2. The Ministry of Finance shall promulgate and guide implementation of the Vietnam criteria of appraisal of prices to apply in activities of appraisal of prices on Vietnam’s territory.

Article 7. Criteria of price appraisers

1. Having civil act capacity.

2. Having ethical qualities, integrity, being honest and objective.

3. Graduated university, post-university specialized in price, appraisal of prices and sectors including: Economy, economy – technique, law involving operation of appraisal of prices issued by legal training organizations in Vietnam or other countries.

4. Having the actual working time under the trained specialties of from 36 (thirty six) months or longer, calculated from the date of issuing the university diploma of specialties specified in Clause 3 of this Article.

5. Having certificate of training on appraisal of prices issued by agencies, organizations which have function on training the appraisal of prices as prescribed by the Ministry of Finance, except from the following cases:

a) Persons who have had graduation diplomas of domestic or foreign universities or post-universities specialized in price, appraisal of prices;

b) Persons who have had graduation diplomas of domestic or foreign universities or post-universities specialized in economy, economy-technique, technique, law involving operation of appraisal of prices and had college diplomas specialized in appraisal of prices.

6. Possessing card of price appraiser issued by the Ministry of Finance.

Article 8. Card of price appraisers

1. Vietnamese citizens who are eligible for participating in examination as prescribed by the Ministry of Finance and meeting requirements of the examination for granting the card of price appraisers that are organized by the Ministry of Finance shall be granted card of price appraiser by the Ministry of Finance.

2. Persons who possess certificate of appraisal of prices issued by foreign countries and recognized by the Ministry of Finance, have full criteria specified in Clause 1, Clause 2 Article 7 of this Decree and pass the examination of test in Vietnamese about law of Vietnam involving the operation of appraisal of prices as prescribed by the Ministry of Finance shall be granted the card of price appraiser by the Ministry of Finance.

Article 9. Professional organizations for appraisal of prices

1. Professional organizations for appraisal of prices are established and operate in accordance with Law on associations and law on appraisal of prices.

2. The professional organizations for appraisal of prices may organize the training and grant of certificate of re-training professional knowledge on appraisal of prices and perform tasks involving activities of appraisal of prices as follows:

a) Researching, updating the international criteria of appraisal of prices to propose to the Ministry of Finance for considering promulgating or supplementing, amendment the Vietnam Criteria of appraisal of prices in conformity with actual conditions in Vietnam and international practices;

b) Coordinating with the Ministry of Finance in organizing grant of cards of price appraiser;

c) Coordinating with the Ministry of Finance in examining, assessing on quality of activities of appraisal of prices and compliance with regulation of State on appraisal of prices in respect to the price appraisal enterprises being members;

d) Supplying information to the Ministry of Finance about activities of members in serve of state management on appraisal of prices;

dd) Organizing the information provision, propagation about activities of appraisal of prices; coordinating with the Ministry of Finance in propagating about mechanisms, policies on management and control by State in price field;

e) Participating in activities of international cooperation on appraisal of prices as prescribed by law on associations.

3. The Ministry of Finance shall specify the reporting regime of the professional organizations for appraisal of prices involving implementation of tasks assigned at Clause 2 of this Article.

Article 10. Cases where the price appraisal enterprises are not permitted to perform appraisal of prices

1. Performing appraisal of prices when failing to ensure compliance with the Vietnam Criteria on appraisal of prices.

2. Trading the assets under state secrets as prescribed by law on list of state secrets.

3. There are the price appraisers participating in appraisal of prices, persons in charge of management, members of the Control Board of the price appraisal enterprises, who are members, founding shareholders or buy shares, contribute capital in organizations which are customers requesting for appraisal of prices.

4. There are the price appraisers participating in appraisal of prices, persons in charge of management, members of the Control Board of the price appraisal enterprises, whose parents, spouses, children, brothers and sisters are:

a) Members, founding shareholders or buy shares, contribute capital in organizations which are customers requesting for appraisal of prices.

b) Persons in charge of leading, management and administration, being chief accountant, members of Control board, supervisor of organizations that are the customers requesting for appraisal of prices.

5. Persons in charge of management, administration, members of the Control Board, and supervisors of units subject to appraisal of prices and concurrently are persons who buy shares, contribute capital in the price appraisal enterprises.

6. The price appraisal enterprises and customers of appraisal of prices have the following relationships:

a) There is a same individual or enterprise or organization which establishes or participates in establishment; or operating in a same group, corporation, or a complex of mother company- subsidiary companies;

b) Having relationship in management, control, capital contribution under all forms between two parties;

c) Directly or indirectly suffer the management, control, capital contribution under all forms of a third party;

d) Having agreement on business cooperation on the basis of contract.

7. The price appraisal enterprises are in time of being suspended or temporarily stop activities of appraisal of prices.

Article 11. Prices of price appraisal services

1. Prices of price appraisal services shall comply with agreements between the price appraisal enterprises and customers of appraisal of prices as prescribed in Clause 2, Clause 3 and Clause 4 of this Article and inscribed in contract of appraisal of prices; in case of bidding for price appraisal services, complying with provisions of law on biding for bidding package of advisory service.

2. Grounds to determine prices of price appraisal services:

a) Content, volume and nature of work and time to perform appraisal of prices;

b) The actual and reasonable business expenses corresponding to the service quality including: Salaries, expenses arising in the course of survey, collection, analyzing and handling of information; financial expenses, sale expenses, expenses for enterprise administration and other expenses as prescribed by law;

c) Expenses for buying professional liability insurance or expenses for setting up of the professional risk reserve fund;

d) Tentative profit (if any) to ensure that prices of price appraisal services are suitable with the level of similar price appraisal services on the market;

e) Financial obligations as prescribed by law.

3. Based on provision in Clause 2 of this Article, the price appraisal enterprises may promulgate and perform the listing of price tariff of their price appraisal services as prescribed in Clause 6 Article 4, Clause 5 Article 12 of the Price Law by form of the price level of lump-sum service, at the percentage (%) of value of assets or value of projects that need be appraised price and other forms as decided by enterprises in conformity with provisions of law.

Article 12. Overseas facilities trading price appraisal services

1. The price appraisal enterprises may place the facilities of trading in price appraisal services abroad as prescribed by law on investment of Vietnam and law of host country.

2. Within 30 (thirty) working days, after placing facility or terminating operation of a facility of trading in price appraisal services abroad, the price appraisal enterprises must notify in writing enclose relevant documents to the Ministry of Finance for management and supervision.

Chapter 2.

SPECIFIC PROVISIONS

SECTION 1. ORDERS OF AND PROCEDURES FOR GRANT OF CERTIFICATE OF ELIGIBILITY FOR BUSINESS IN SERVICE OF APPRAISAL OF PRICES

Article 13. Grant, re-grant of certificate of eligibility for business in service of appraisal of prices

1. The Ministry of Finance shall consider and grant certificate of eligibility for business in service of appraisal of prices for enterprises, which are eligible for business in service of appraisal of prices as prescribed in Article 39 of the Price Law.

2. The Ministry of Finance shall consider and re-grant certificate of eligibility for business in service of appraisal of prices for price appraisal enterprises when changing one of following contents:

a) Having change of content of certificate of eligibility for business in service of appraisal of prices;

b) Certificate of eligibility for business in service of appraisal of prices is lost, torn, burned or damaged due to natural disasters, enemy sabotage or other force majeure reason.

Article 14. Dossier requesting for grant, re-grant of certificate of eligibility for business in service of appraisal of prices

1. Dossier requesting for grant of certificate of eligibility for business in service of appraisal of prices includes:

a) Application for grant of certificate of eligibility for business in service of appraisal of prices made according to the Form prescribed by the Ministry of Finance;

b) Authenticated copy of certificate of business registration, certificate of enterprise registration of enterprise;

c) Register of practicing appraisal of prices of appraisers registering for practicing appraisal of prices at enterprise confirmed by enterprise; certificate of re-training the professional knowledge of appraisal of prices for the practicing price appraisers (if any);

d) Copies of labor contracts, or Annexes of labor contracts (if any) of the practicing price appraisers at enterprise;

dd) Documents proving the level of contributed capital of members being organization for the limited liability companies with two members or more and joint-stock companies as prescribed in Article 18 of this Decree; the level of contributed capital of the foreign organizations of appraisal of prices at enterprises (if any) as prescribed in Clause 1 Article 21 of this Decree;

e) Receipt of paying fees as prescribed;

g) Authenticated copies of document on appointment of position for legal representative of enterprise, documents of authorization in appraisal of prices (if any).

2. Dossier requesting for re-grant of certificate of eligibility for business in service of appraisal of prices includes:

a) Application for re-grant of certificate of eligibility for business in service of appraisal of prices made according to the Form as prescribed by the Ministry of Finance;

b) Original of the granted certificate of eligibility for business in service of appraisal of prices. In case where the certificate of eligibility for business in service of appraisal of prices is lost or damaged, it is required to have certification of People’s Committee or police office at communal/ward level where the certificate is lost or damaged;

c) Receipt of paying fees as prescribed;

d) Authenticated copies of document on appointment of position for legal representative of enterprise, documents of authorization in appraisal of prices (if any).

Article 15. Time limit for grant, re-grant of certificate of eligibility for business in service of appraisal of prices

1. Within 15 (fifteen) working days after receiving fully 01 (one) set of dossier made by enterprise as prescribed in Clause 1 Article 14 of this Decree, the Ministry of Finance shall grant certificate of eligibility for business in service of appraisal of prices for the price appraisal enterprises.

2. Within 10 (ten) working days after receiving fully 01 (one) set of dossier made by enterprise as prescribed in Clause 2 Article 14 of this Decree, the Ministry of Finance shall re-grant certificate of eligibility for business in service of appraisal of prices for the price appraisal enterprises.

3. In case of refusal for grant, re-grant of certificate of eligibility for business in service of appraisal of prices, the Ministry of Finance shall reply in writing in which clearly state reason thereof to the price appraisal enterprises within 05 (five) working days after receiving dossier.

Article 16. Fee for grant, re-grant of certificate of eligibility for business in service of appraisal of prices

1. Enterprises must pay fees when submitting dossier of grant, re-grant of certificate of eligibility for business in service of appraisal of prices.

2. The Minister of Finance shall specify the collection, regime of collection, remittance, management and use of the feed for grant, re-grant of certificate of eligibility for business in service of appraisal of prices.

Article 17. Changes must notify the Ministry of Finance

1. In the course of appraisal of prices, the price appraisal enterprises must notify in writing the Ministry of Finance when change one of the following contents:

a) Cases of changing and leading the dissatisfactory of one of conditions for grant of certificate of eligibility for business in service of appraisal of prices for enterprises as prescribed in Article 39 of the Price Law;

b) Cases of changing which need re-grant certificate of eligibility for business in service of appraisal of prices for enterprises as prescribed in Clause 2 Article 13 of this Decree;

c) List of the price appraisers who register for practicing at enterprise, including: Name, year of birth, hometown, number of card of appraiser and date of issue of the card of price appraiser;

d) Enterprise is divided, separated, merged, consolidated or changed form of ownership;

dd) Enterprise is dissolved, bankrupted, temporarily stops, self-terminates business in service of appraisal of prices;

e) Enterprise is withdrawn certificate of business registration, certificate of enterprise registration.

2. Within 15 (fifteen) working days after having changes of contents specified in Clause 1 of this Article, the price appraisal enterprises must notify in writing the Ministry of Finance for the Ministry of Finance to monitor, sum up information, review the conditions for business of enterprises to serve for state management over the price appraisal enterprises.

Article 18. Members being organizations of limited liability companies with two members or more and joint-stock companies of appraisal of prices

1. Members being organizations may contribute maximally 35% of charter capital of the limited liability companies with two members of appraisal of prices. Founding shareholders which are organizations may contribute maximally 35% of charter capital of the joint-stock companies of appraisal of prices. In case there are many organizations contributing capital, the number of contributed capital of organizations is maximally equal to 35% of charter capital of the limited liability companies with two members or more and joint-stock companies of appraisal of prices.

2. Representatives of members being organizations specified in Clause 1 this Article must be price appraiser and must register for practicing at the price appraisal enterprise which organizations contributed capital; concurrently are not permitted to contribute capital in that price appraisal enterprise with entity of an individual, not permitted to be representative of organization contributed in establishment of other price appraisal enterprise.

SECTION 2. SUSPENSION OF BUSINESS IN PRICE APPRAISAL SERVICES, WITHDRAWAL OF CERTIFICATE OF ELIGIBILITY FOR BUSINESS IN PRICE APPRAISAL SERVICES

Article 19. Suspension of price appraisal services

1. A price appraisal enterprise may be suspended business in price appraisal services as prescribed in Clause 1 Article 40 of the Price Law when falls in one of following cases:

a) Fail to satisfy one of conditions corresponding type of enterprise specified in Clause 1, Clause 2, Clause 3, Clause 4 and Clause 5 Article 39 of the Price Law during consecutive 03 (three) months.

b) Having professional serious mistakes or violating criteria of appraisal of prices, including:

- Fail to comply with the Vietnam Criteria of appraisal of prices.

- Disclose information about record, customers of appraisal of prices and assets that are appraised price unless customers of appraisal of prices agree or law provided for permission.

- Having act of collaborating with owners of assets, customers of appraisal of prices, concerned persons when perform appraisal of prices with the aim to falsify result of price appraisal.

- Falsifying record of assets subject to appraisal of prices or falsifying information involving assets subject to appraisal of prices which lead the higher or lower result of price appraisal of the price appraising enterprise at difference of 10% for assets being real estate, equipment, transport, and 15% for assets being materials, goods in comparison with the final result of price appraisal of competent state applied to same method of price appraisal.

2. The Ministry of Finance shall issue decision on suspension of business operation in price appraisal services.

3. The maximum time for suspension of business operation in price appraisal services is 60 (sixty) days from the effective date of decision on suspension. In this time, enterprises must have written report and send it to the Ministry of Finance, regarding handling and remedying violations of units enclosed with relevant documents to prove, concurrently suggest permission to continue the business operation of price appraisal service.

Based on report of enterprise, the Ministry of Finance shall consider and notify in writing to permit enterprise to continue operating appraisal of prices under certificate of eligibility for business in price appraisal service corresponding to type of enterprise specified in Clause 1, Clause 2, Clause 3, Clause 4 and Clause 5 Article 39 of the Price Law or handle by withdrawal of certificate of eligibility for business in price appraisal service as prescribed in Article 20 of this Decree.

4. In time of being suspended the business operation of price appraisal service, the price appraisal enterprises must be responsible for contracts of price appraisal signed with customers, labor contracts signed with appraisers, employees and other legal obligations as prescribed, unless parties have other agreement.

5. The Ministry of Finance shall post up publicly on website of the Ministry of Finance the list of price appraisal enterprises which are suspended business operation of price appraisal services, list of price appraisal enterprises which are eligible for continuing operation of price appraisal after being suspended.

Article 20. Withdrawal of certificate of eligibility for business in price appraisal services

1. The price appraise enterprises may be withdrawn certificate of eligibility for business in price appraisal service as prescribed in Clause 2 Article 40 of the Price Law.

2. The Ministry of Finance shall issue decision on withdrawal of certificate of eligibility for business in price appraisal service; post up publicly list of the price appraisal enterprises which are withdrawn certificate of eligibility for business in price appraisal service; delete name out list of price appraisal enterprises which are eligible for appraisal of prices on website of the Ministry of Finance.

3. The price appraisal enterprises which are withdrawn certificate of eligibility for business in price appraisal service must terminate business in price appraisal service from the effective date of decision on withdrawal.

SECTION 3. FORM, SCOPE OF PRICE APPRAISAL SERVICE PROVISION OF FOREIGN PRICE APPRAISAL ORGANIZATIONS IN VIETNAM

Article 21. Form of price appraisal service provision of foreign price appraisal organizations in Vietnam

1. Foreign price appraisal organizations that are established and operate legally in price appraisal service provision in their countries may contribute capital with Vietnamese price appraisal enterprises to establish limited liability companies with two members or more, joint-stock companies in order to business in price appraisal service in Vietnam. The rate of capital contribution of foreign price appraisal organizations and representatives of foreign price appraisal organizations participating in capital contribution shall comply with Article 18 of this Decree.

2. Conditions for establishment, operation and dossier of requesting for grant, re-grant of certificate of eligibility for business in price appraisal service applicable to the price appraisal enterprises contributed capital by foreign price appraisal organizations shall comply with provisions of law on enterprises, Clause 2 and Clause 5 Article 39, Article 43 of the Price Law and regulation of this Decree.

Article 22. Cases where price appraisal enterprises which are contributed capital by foreign price appraisal organizations are not permitted to perform appraisal of prices

1. Cases prescribed in Article 10 of this Decree.

2. Assets belonging to national defense as prescribed by law.

SECTION 4. ORDERS OF AND PROCEDURES FOR PRICE APPRAISAL OF STATE

Article 23. Requirement of asset price appraisal

1. Competent state agencies perform appraisal of asset prices at the request in writing of competent state agencies or agencies, organizations, units which are assigned to purchase, sell, liquidate, lease, hire state assets in cases prescribed in Clause 2 Article 31 and Article 44 of the Price Law, specifying as follows:

a) Purchase, sale, liquidation, lease state assets or hire assets to serve for operation of state agencies as prescribed by law on management and use of state assets;

b) Fail to hire any enterprise to appraise prices for state assets in case where agencies, organizations, units which are assigned to purchase, sell, liquidate, lease, hire state assets have posted up publicly information over 15 (fifteen) days to invite for supplying the price appraisal service but there is no price appraisal enterprise participating in, except for bidding case which shall comply with provisions of law on bidding;

c) Purchase, sell assets belonging to state secret as prescribed by law on list of state secrets;

d) Purchase, sell state assets with big value and after having hired the price appraisal enterprise, agency or person competent to approval realize that it is necessary to have appraisal of competent state management agency according to decentralization of appraising prices of state assets specified in point n clause 2, point b clause 3 and point b Clause 4 article 5 of this Decree.

2. Documents requesting for appraising price of assets must have the following principle contents:

a) Name of agency requesting for price appraisal;

b) Content of request for price appraisal;

c) Information about assets subject to price appraisal enclosed with relevant documents; evaluation certificate of economic-technical status, quality of assets subject to price appraisal; certificate, report about result of price appraisal (if any) and relevant other documents.

3. In case it is necessary to have to have opinion about price appraisal of competent state management agency as prescribed in point d Clause 1 this Article, in the request document must clearly state reason of requesting for opinion about price appraisal.

Article 24. Receipt of requirement for asset price appraisal

1. Document requesting for asset price appraisal is sent to the state agency competent to perform asset price appraisal according to decentralization specified in Clause 2, Clause 3 and Clause 4 Article 5 of this Decree.

2. Agencies competent to asset price appraisal shall perform asset price appraisal at the request of agencies requested for price appraisal; in necessary, a Council of price appraisal may be established as prescribed in Article 45 of the Price Law, Article 28 of this Decree and relevant law.

3. In case of refusal for price appraisal due to not accordance with state management competence of price appraisal specified in Article 5 of this Decree; insufficient information, documents at the request specified in point p Clause 1 Article 26 and point c Clause 1 Article 29 of this Decree; cases not allowed to participate in price appraisal as prescribed in Article 31 of this Decree, agencies competent to asset price appraisal must reply in writing in which clearly state reason thereof.

Article 25. Orders of asset price appraisal

1. Competent state agencies shall perform asset price appraisal according to the following orders:

a) Defining generally about assets subject to price appraisal;

b) Making plan on price appraisal;

c) Surveying reality, collecting information involving assets subject to price appraisal;

d) Analyzing information;

dd) Determining value of asset subject to price appraisal based on regulation on counting price of assets, goods, service, the Vietnam criteria of price appraisal promulgated by the Ministry of Finance; principles, grounds, methods of determining price as prescribed by law involving asset subject to price appraisal;

e) Making report about result of price appraisal, documents replying about result of price appraisal and submit to heads of agencies competent to price appraisal for the approval; after that, send document replying about result of the price appraisal to agencies requesting for price appraisal.

2. Depending on assets subject to appraisal, the orders of price appraisal may be shortened some steps in comparison with provision in Clause 1 of this Article.

3. Agencies requested for price appraisal shall supply information and documents related to assets subject to price appraisal; coordinate in surveying reality of assets subject to price appraisal, if necessary.

Article 26. Rights and obligations of heads, civil servants of state agencies when appraise prices of state assets

1. Heads and civil servants of state agencies have rights:

a) To organize price appraisal under their competence specified in Article 5 of this Decree or perform price appraisal under assignment of agencies, organizations subject to request for price appraisal;

b) To request agencies requesting for price appraisal or agencies, organizations, unit which have assets subject to price appraisal or other relevant organizations, individuals for supplying necessary information and documents to serve for appraising prices of assets;

c) Heads of state agencies are entitled to hire organizations which have function to perform evaluation on economic – technical status, quality of assets; hire services for asset price appraisal with the aim to have more information to serve the price appraisal of state agencies. Expenses for hiring shall comply with Article 32 of this Decree;

d) To refuse the asset price appraisal in case of insufficient information and documents at the request specified in point b Clause 1 of this Article;

e) To be enjoyed regimes, policies as prescribed by law on price appraisal and other relevant provisions of law.

2. Heads and civil servants of state agencies have obligations:

a) To comply with the orders of asset price appraisal as prescribed in Article 25 of this Decree;

b) To ensure the independence about professional operations; the truthfulness, objectivity in the course of asset price appraisal;

c) Keep information in secret as prescribed by law.

3. Apart from rights and obligations specified in Clause 1 and Clause 2 of this Article, heads, civil servants of state agencies when perform price appraisal of state assets have rights and obligations as prescribed by law on civil servants.

Article 27. The making and storage of dossier of asset price appraisal

1. Agency competent to the asset price appraisal or Council of price appraisal shall make dossier of asset price appraisal including the following documents:

a) Written request for asset price appraisal; Decision on establishment of Council of price appraisal in case of establishing Council of price appraisal;

b) Report on result of price appraisal and document replying about result of price appraisal; Record of asset price appraisal and conclusion of asset appraisal of prices in case of establishing Council of price appraisal;

c) Other documents relating to the asset price appraisal.

2. Agencies competent to asset price appraisal or agencies presiding over establishment of Council of price appraisal shall preserve, store dossiers of price appraisal as prescribed by law on archival. Time for archival is not less than 10 (ten) years after the day ending price appraisal, unless otherwise prescribed by law.

Article 28. Council of price appraisal

1. Members of the price appraisal Council

a) The asset price appraisal Council of the Ministry of Finance is established under competence on state management specified in point n Clause 2 Article 5 of this Decree, leader of the Ministry of Finance or an authorized person is chairperson of Council, other members include:

- Representative of unit specialized in price management under the Ministry of Finance;

- Representative of unit specialized in state asset management under the Ministry of Finance;

- The Chairperson of Council shall, base on nature, characteristics of assets subject to price appraisal, decide other members.

In case where the asset price appraisal Council established by the Ministry of Finance under competence on state management specified in point b Clause 3 Article 5 of this Decree, members of Council shall comply with provision in point b Clause 1 of this Article.

b) For the asset price appraisal Council of other Ministry, Ministerial-level agency, Governmental agency, other agency at Central level (hereinafter abbreviated to Ministry, Central agency), leader of Ministry or Central agency possessing assets subject to price appraisal or an authorized person is chairperson of Council, other members include:

- Head of unit possessing assets subject to price appraisal;

- Representative of unit specialized in price management or financial management under the Ministry, central agency and division specialized in price or finance, accounting of unit possessing assets subject to price appraisal;

- Agency competent to decide on establishment of Council shall, base on nature, characteristics of assets subject to price appraisal, decide other members.

c) For the asset price appraisal Council at provincial or district level, leader or an authorized person of state finance agency (Department of Finance, Division of Finance and Planning) is chairperson, other members include:

- Representative of unit possessing assets subject to price appraisal;

- Representative of unit specialized in price management, finance management of the state financial agency;

- Agency competent to decide on establishment of Council shall, base on nature, characteristics of assets subject to price appraisal, decide other members.

d) For the asset price appraisal Council of agencies, organizations, units (hereinafter collectively referred to as units) assigned to purchase, sell, manage and use assets, leader of unit possessing assets subject to price appraisal or an authorized person is chairperson of Council, other members include:

- Representative of division specialized in price or finance, accounting of unit assigned to purchase, sell, manage, use of assets;

- Representative of division specialized in price or finance of the superior agency;

- Agency competent to decide on establishment of Council shall, base on nature, characteristics of assets subject to price appraisal, decide other members.

2. The price appraisal Council must have at least one member trained, improved the professional operations specialized in price appraisal as prescribed by the Ministry of Finance or had graduation diploma of college, university, post-university specialized in price, price appraisal.

3. In necessary case, chairperson of the price appraisal Council may decide on establishment of Assistant Group for the price appraisal Council.

4. Council of price appraisal works in collective principle. Meeting session of price appraisal may carry out only when there are presence of at least 2/3 quantity of members of the asset price appraisal Council. In case where the asset price appraisal Council has only 03 members, the meeting session must have presence of full 03 members. Chairperson of the price appraisal Council shall chair the meeting session of price appraisal. Before carrying out the meeting session of price appraisal, the absent members must have document and send it to chairperson of the price appraisal council in which clearly state reason of absence and their independent opinion about issues related to prices of assets subject to appraisal.

The price appraisal Council will conclude about prices of assets under opinion of majority voted and passed by its members who are present at meeting. In case where number of various opinions is equal, the opinion with the vote of the chairperson of Council is decisive opinion. Members of the price appraisal council have right to make reservations to their opinions if disagree with conclusion on prices of assets decided by the Council; such reserved opinions will be inscribed in record of meeting of asset price appraisal.

5. The asset price appraisal Council as prescribed in Clause 1 of this Article will terminate its operation after finished task specified in Decision on establishment of Council. Agency competent to establishment of Council shall preside over handling of cases arising after the asset price appraisal Council terminated operation.

Article 29. Rights and Obligations of Council of price appraisal

1. Council of price appraisal has rights:

a) To request agencies requesting for price appraisal or agencies, organizations, unit which have assets subject to price appraisal or other relevant organizations, individuals for supplying necessary information and documents to serve for appraising prices of assets;

b) To hire organizations with function of implement evaluation on economic – technical status, quality of assets; hire services for asset price appraisal with the aim to have more information to serve the price appraisal of the price appraisal council. Expenses for hiring shall comply with Article 32 of this Decree;

c) To refuse the asset price appraisal in case of insufficient information and documents at the request specified in point a Clause 1 of this Article;

d) Other rights as prescribed by law.

2. Council of price appraisal has obligations:

a) To comply with the orders of asset price appraisal as prescribed in Article 25 of this Decree;

b) To ensure the independence about professional operations; the truthfulness, objectivity in the course of asset price appraisal and take responsibility for result of asset price appraisal;

c) Keep information in secret as prescribed by law;

d) Other obligations as prescribed by law.

3. The price appraisal Council may use seal of agency deciding its establishment.

Article 30. Rights and Obligations of members of the price appraisal Council

1. Members of the price appraisal Council have rights:

a) To access relevant information and documents to serve for the asset price appraisal;

b) To give out their cognizance, assessment during course of price appraisal;

c) To vote to determine prices of assets; in case of having various opinion, they have right to make reservations and inscribed in record of meeting of Council;

d) To be enjoyed regimes, policies as prescribed by law on price appraisal and other relevant provisions of law;

e) Other rights as prescribed by law.

2. Members of the price appraisal Council have obligations:

a) To comply with the orders of asset price appraisal as prescribed in Article 25 of this Decree;

b) To ensure the independence about professional operations; the truthfulness, objectivity in the course of asset price appraisal and take responsibility before law for their cognizance, assessment as prescribed in point b, point c Clause 1 of this Article;

c) Keep information in secret as prescribed by law;

d) Other obligations as prescribed by law.

Article 31. Cases are not participated in price appraisal

1. Persons who have rights and obligations related to assets subject to price appraisal or have conducted price appraisal over such assets before establishing the price appraisal Council.

2. Persons whose parents, spouses, children, brothers and sisters are price appraisers, persons in charge of management, members of Control Board of price appraisal enterprises having conducted price appraisal over such assets before establishing the price appraisal Council.

3. Persons who are in time of discipline execution with form of warning or heavier, persons who are on administrative probation, persons who are incapable of civil acts or limited the civil act capacity.

Article 32. Expenses for price appraisal of state-owned assets

1. Expenses to serve for price appraisal of State are covered by funding from state budget of agency assigned task of price appraisal or agency competent to establishment of the price appraisal Council in case of establishing the price appraisal Council. The Ministry of Finance shall specify expenses serving for price appraisal of state-owned assets.

2. Especially, for case of price appraisal when procure, sell, liquidate state-owned assets, expenses serving for price appraisal shall comply with regulation of law on management, use of state-owned assets, law on bidding and other relevant law.

Chapter 3.

ORGANIZATION OF IMPLEMENTATION

Article 33. Transitional provisions

1. Within 02 (two) years after this Decree takes effect, enterprises which are practicing price appraisal under notification of the Ministry of Finance before the effective date of this Decree must ensure conditions as prescribed by the Price Law and provisions in this Decree and submit dossier in order to be granted certificate of eligibility for business in price appraisal services by Ministry of Finance.

2. Within 02 (two) years after this Decree takes effect, the establishment of price appraisal council must ensure conditions as prescribed in Clause 2 Article 28 of this Decree.

Article 34. Effect

1. This Decree takes effect on September 25, 2013.

2. To annul the Government’s Decree No. 101/2005/ND-CP dated August 03, 2005, on price appraisal; to annul provisions on price appraisal at Article 14, Article 15, Article 16, Article 17, Article 18, Article 19 of the Government’s Decree No. 170/2003/ND-CP dated December 25, 2003, detailing implementation of a number of Articles of the Price Ordinance; to annul provisions on transitional handling for price appraiser at Clause 3 Article 24 of the Decree No. 153/2007/ND-CP dated October 15, 2007, detailing and guiding implementation of Law on real estate business.

3. Cards of price appraiser which have been issued as prescribed by previous law on price appraisal are still legally valid from the date the Price Law and this Decree takes effect.

Article 35. Responsibility of implementation

The Minister of Finance shall guide implementation of this Decree; Ministers, Heads of ministerial-level agencies, Heads of Governmental agencies, chairpersons of People’s Committees of provinces and central-affiliated cities shall implement this Decree.