To organize auctions of goods in compliance with the principles and procedures provided for by law and by auction modes agreed upon with goods sellers.

To organize auctions of goods in compliance with the principles and procedures provided for by law and by auction modes agreed upon with goods sellers.

Set-up-company-in-vietnam-Vinasc22. To notify and post up in a public, full and accurate manner necessary information on auctioned goods.

3. To preserve auctioned goods when they are entrusted by sellers for safe-keeping.

4. To display goods, goods samples or documents introducing goods for auction participants to consider.

5. To compile documents on auctions of goods and send them to goods sellers and purchasers and relevant parties according to the provisions of Article 203 of this Law.

6. To deliver auctioned goods to purchasers according to contracts for provision of goods auctioning services.

7. To carry out the procedures for transferring ownership rights over auctioned goods which are subject to the ownership registration as provided for by law, unless otherwise agreed with goods sellers.

8. To pay to goods sellers proceeds from the sale of goods, including differences collected from persons that withdraw their offered prices defined in Clause 3, Article 204 of this Law or return unsold goods to goods sellers according to agreements. In case of no agreement, to pay money to goods seller within three working days after receiving money from goods purchasers, or to return the goods immediately within a reasonable time after auctions;

Article 191.- Rights of goods sellers that are not auction organizers

Unless otherwise agreed, goods sellers shall have the following rights :

1. To receive money amounts for auctioned goods and differences collected in cases specified in Clause 3, Article 204 of this Law or receive goods back in case of unsuccessful auctions;

2. To supervise the organization of auctions of goods.

Article 192.- Obligations of goods sellers that are not auction organizers

Unless otherwise agreed, goods sellers shall have the following obligations:

Set-up-company-in-vietnam-Vinasc11. To deliver goods to auction organizers, create conditions for auction organizers and auction participants to examine goods, and supply in a full, accurate and timely manner necessary information on auctioned goods;

2. To pay auction organizing service charges according to Article 211 of this Law.

Article 193.- Goods auction-organizing service contracts

1. Goods auction organizing service contracts must be made in writing or in other forms of equivalent legal validity.

2. In cases where auctioned goods are objects of pledges or mortgages, goods auction organizing service contracts must be approved by pledgees or mortgagees, and sellers shall have to notify auction participants of the pledged or mortgaged goods.

3. If the auction is agreed upon in pledge or mortgage contracts but pledgors or mortgagors are absent without plausible reasons or refuse to enter into goods auction organizing service contracts, such contracts shall be entered into between pledgees or mortgagees and auction organizers.