This is a compulsory standard suggested by the Government at the Decree No. 89/2013/ND-CP promulgating the implementation of some articles of the Law on Price on price appraisal.
Accordingly, Price appraisers must satisfy 06 criteria as follows: having civil act capacity; having ethical qualities, integrity, being honest and objective; graduated university, post-university specialized in price, price appraisal and sectors including: Economy, economy – technique, law involving operation of price appraisal issued by legal training organizations in Vietnam or other countries; 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; having certificate of training on price appraisal issued by agencies, organizations which have function on training the price appraisal as prescribed by the Ministry of Finance and possessing card of price appraiser issued by the Ministry of Finance.
To the price appraisal enterprises, they are not permitted to perform price appraisal in 07 following case: performing price appraisal when failing to ensure compliance with the Vietnam Criteria on price appraisal; trading the assets under state secrets as prescribed by law on list of state secrets; there are the price appraisers participating in price appraisal, 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 customersrequesting for price appraisal; there are the price appraisers participating in price appraisal, persons in charge of management, members of the Control Board of the price appraisal enterprises, whose parents, spouses, children, brothers and sisters; persons in charge of management, administration, members of the Control Board, and supervisors of units subject to price appraisal and concurrently are persons who buy shares, contribute capital in the price appraisal enterprises and so on.
In accordance with this Decree, members being organizations may contribute maximally 35% of charter capital of the limited liability companies with two members of price appraisal. Founding shareholders which are organizations may contribute maximally 35% of charter capital of the joint-stock companies of price appraisal. 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 price appraisal. Representatives of members 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.
This Decree takes effect on September 25, 2013.