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Auctions for car licence plates to be tested from July 2023

The starting price of a car licence plate put up for auction is VND40 million. The price may increase by increments of VND5 million.
License plate installation. — VNA/VNS Photo

Chairman of the National Assembly Vuong Dinh Hue has issued a resolution to test out car licence plate auctioning.

According to the resolution, car licence plates up for auction are those with a white background and black letters and numbers, with the exception of plates for military enterprises doing business and foreign organisations and enterprises, diplomatic missions, representative offices of international organisations and foreigners working in foreign and international agencies and organisations operating in the Vietnamese territory.

The selection of licence plates of cars for auction will be regulated. The Ministry of Public Security and the asset auction organiser will be responsible for publicising the licence plates of unregistered, new cars on the National Property Auction Portal, the Ministry of Public Security's web portal, the website of the Traffic Police Department and the website of the asset auction organisation.

Organisations and individuals may select licence plates of automobiles of provinces and centrally run cities to register for auction. Licence plates that are either not selected for auction, or successfully auctioned, will be immediately transferred to the vehicle registration and management system for registration, according to regulations.

During the implementation of this resolution, the Ministry of Public Security shall select an asset auction organisation that has an online auction website with internet safety and security certifications.

The resolution stipulates: The starting price of a car licence plate put up for auction is VND40 million. The deposit is equal to the starting price of a licence plate of a car put up for auction. The price may increase by increments of VND5 million.

The proceeds from the car licence plate auctions, after deducting the expenses for organising the auction, shall be remitted to the central budget in accordance with the law on State budget. The Government shall specify the management and use of the proceeds from the car licence plate auction.

When the registration period expires but only one person registers to participate in the auction, or only one person participates in the auction, or if there are many people participating in the auction but only one bid at least equals the starting price, the licence plate will be transferred to that person.

The rights of an auction winner of a car licence plate include: to be issued with a written certification of the number plate after fully paying the amount of the winning bid; to register the number plate under his/her ownership at the registration office where the number plate of the car is managed or where the auction winner resides.

They may also keep the licence plate in the auction in case the car is lost or damaged. The licence plate can be transferred, exchanged or donated for registration to another vehicle under his/her ownership within a period of 12 months from the time the car is lost or damaged.

The licence plate can be re-issued, as well as written confirmation of the number plate, if it is lost, blurred or damaged.

Within 12 months from the date of being issued with a written confirmation of the number plate, if the auction winner dies but has not yet carried out the procedures for car registration to attach the winning number plate, the number plate may be transferred to the vehicle registration and management system.

The heir in accordance with the law on inheritance is entitled to receive the amount paid by the auction winner after deducting the costs of organising the auction.

The obligations of the auction winner of the car licence plates include: to fully pay the auction winning amount within 15 days from the date of approval of the auction results in writing; the money of the winning bid does not include registration and licence plate fees for cars.

The auction winner shall carry out the procedures for car registration to attach the number plate within 12 months from the date of being issued with a written confirmation of the number plate; in case of force majeure, this time limit may be extended for a maximum of six months. After the specified time limit, if the car number plate auction winner fails to carry out the procedures for car registration in order to attach the number plate, the number plate will be transferred to the registration and management system. The vehicle owner and the auction winner are not entitled to a refund of the auction winning amount.

This resolution takes effect from 1/7/2023 and will be implemented for three years. 

Source: Vietnam News

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