Circular No. 11/2015/TT-BXD dated December 30, 2015 of the Ministry of Construction guiding regulations on issuance of real estate broker license; guidelines for training and improving knowledge of real estate brokerage practice and management of the real estate trading floor; establishment and organization of activities of the real estate trading floor

THE MINISTRY OF CONSTRUCTION

Circular No. 11/2015/TT-BXD dated December 30, 2015 of the Ministry of Construction guiding regulations on issuance of real estate broker license; guidelines for training and improving knowledge of real estate brokerage practice and management of the real estate trading floor; establishment and organization of activities of the real estate trading floor

Pursuant to the Law on real estate trading No. 66/2014/QH13 dated November 25, 2014;

Pursuant to the Government s Decree No. 76/2015/NĐ-CP dated September 10, 2015 on guidelines for the law on real estate trading;

Pursuant to the Government s Decree No. 62/2013/NĐ-CP dated June 25, 2013 defining functions, tasks, powers and apparatus of the Ministry of Construction;

Considering the request of the Director General of the Housing and Real Estate Market Management Agency;

The Minister of Construction promulgates a Circular providing for the issuance of real estate broker license; guidelines for training and improving knowledge of real estate brokerage practice and management of the real estate trading floor; establishment and organization of activities of the real estate trading floor.

Chapter I

GENERAL PROVISIONS

Article 1. Scopeof adjustment

This Circular provides for the issuance of real estate broker license (hereinafter referred to as the broker license); guidelines for training and improving knowledge of real estate brokerage practice and management of the real estate trading floor; establishment and organization of activities of the real estate trading floor.

Article 2.Subject of application

1.Organizations and individuals who practice in real estate brokerage and managing the real estate trading floor.

2.Organizations and individuals involved in the issuance of broker license; training and improving knowledge of real estate brokerage practice and management of the real estate trading floor;

3.Organizations and individuals who traded in real estate brokerage services and the real estate trading floor services.

Chapter II

ISSUANCE REGULATIONS OF REAL ESTATE BROKER LICENSE

Section 1: ORGANIZATION OF THE REAL ESTATE BROKER’S KNOWLEDGE TESTING EXAMINATION

Article 3. Examination organization for testing and granting real estate broker license

1.The construction departments of provinces or central-affiliated cities are responsible for organizing the testing examination (hereinafter referred to as the examination) and granting broker license.

2.The construction department shall organize the examination under one of the following forms:

a) The construction department may directly organize the examination: a functional unit of the construction department shall be assigned to hold the examination;

b) The construction department may authorize one of the following competent agencies or units to hold the examination (hereinafter referred to as the examination organization unit): the Vietnam National Real Estate Association, the Real Estate Associations of provinces (or cities), the Vietnam Association of Realtors or the training facilities certified by the Ministry of Construction with being a qualified unit for training and improving knowledge of real estate brokerage practice.

3.Annually, the provincial construction department shall receive the candidate’s application for testing (according to the form stated in Annex 1 of this Circular) as of the 01^stof January. The construction department shall base on the number of registered candidates and actual conditions of that province to hold the examination.

4.Annually, the construction department shall organize at least 01 examination depending on the number of registered candidates (at least 10 candidates required for each examination).

As for unsuccessful examination due to unsatisfactoriness of required number of candidates (less than 10 candidates), if the registered candidates want to attend the examination held by another examiner board, the construction department shall send an official dispatch on transferring those candidates to such examiner board.

5.Within at least 30 days prior to the organization of the examination, the construction department shall publish on its website the plan for the examination organization, requirements and application for attendance, time, location and other necessary information relating to the examination.

6.Examination fees:

a) The examinees must pay the examination fees to the examination organization unit;

b) The Director of the construction department shall, basing on the number of registered candidates and proposal of the Chairperson of the examiner board, decide the rate of the examination fees for covering the examination expenditures;

c) The examination organization unit shall spend the examination fees on the examination activities and payment of remuneration for members of the examiner board. Accounting of the examination fees must be approved by the Chairperson of the examiner board.

Article 4. Examiner board for testing and granting real estate broker license (hereinafter referred to the examiner board)

1.The construction department makes decision of establishment of the examiner board for each examination. The examiner board includes 05 members and more, including:

a) The Chairperson of the examiner board who is the leader of the construction department;

b) The members of the examiner board include: the representatives of the real estate market management division and other functional divisions of the construction department or the examination organization unit; the representatives of the Real Estate Association and Vietnam Association of Realtors (if any); lecturers of the training facilities certified by the Ministry of Construction; specialists of the real estate brokerage services enterprises and the real estate trading floor and other experts (if any).

2.The examiner board shall direct and inspect the organization of the examination executed by the examination organization unit in accordance with the approved plan and the laws.

3.Rights and responsibilities of the Chairperson of the examiner board:

a) Approve the plan for the organization of the examination, the examination rules, the examination questions and answers submitted by the examination organization unit;

b) Check the estimate for the examination expenditures and the rate of examination fees paid by the candidates which is prepared by the examination organization unit, and submit it to the Director of construction department for approval;

c) Approve the exam results including the list of successful candidates and that of unsuccessful candidates;

d) Report to the Director of construction department on the examination organizing process;

dd) Direct the examination organizing process and bear responsibilities before the Director of construction department and the laws for the exam results;

e) Approve the accounting of the examination expenditures prepared by the examination organization unit.

4.The members of the examiner board shall directly participate in all activities of the examination, work under the assignment of the Chairperson of the examiner board, are paid with remuneration and bear responsibilities before the Chairperson of the examiner board for their assigned duties.

Article 5. Duties and rights of the examination organization unit

1.Prepare and submit the plan for organizing the examination and examination rules to the Chairperson of the examiner board for approval;

2.Prepare the estimate for the examination expenditures and the estimated rate of the examination fees provided that it must cover the examination expenses and comply with the state policies and submit it to the Chairperson of the examiner board for obtaining the approval from the Director of the construction department.

3.Compile the set of exam questions and answers for each examination as guided in this Circular and submit it to the Chairperson of the examiner board for approval. Expenses for compiling the set of exam questions and answers shall be included in the examination expenditures.

4.Receive and check the applications, and prepare the lists of qualified and unqualified candidates;

5.Organize and invigilate the examination, mark the exam papers under the direct management of the Chairperson and the members of the examiner board according to the plan approved by the Director of the construction department.

6.Reexamine the exam results at the candidate s request as prescribed.

7.Aggregate and submit the exam results to the Chairperson of the examiner board for approval, including the reports on the examination organizing process; the list of successful candidates and the list of unsuccessful candidates.

8.Send 01 set of records of successful candidate as stipulated in Article 10 of this Circular to the construction department for granting broker license.

9.Bear responsibilities before the Chairperson of the examiner board, the Director of the construction department and the laws for the entire examination organizing process and the exam results.

Article 6. Exam contents and questions

1.The examinee for the broker license is required to take the examination on the following contents, except for cases stipulated in Clause 2 of this Article.

The subjects of fundamental knowledge include:

-Law on real estate trading;

-Real estate market;

-Real estate investment;

-Anti-money laundering in real estate trading.

b) The subjects of professional knowledge include:

-Overview of real estate brokerage services;

-Real estate brokerage processes and skills;

-Resolution of a case study.

2.The candidate who holds an unexpired broker license granted by foreign authorities and the applicant for re-issuance of the broker license in substitute of his/her expired license are required to take the examination on fundamental knowledge and exempt from the examination on professional knowledge.

3.The examination organization unit shall compile and submit the set of exam questions and answers to the Chairperson of the examiner board for approval.

4.The set of exam questions and answers shall be complied as guided in Annex 2 of this Circular. The exam questions must be inconformity with the contents of the framework program of training knowledge of real estate brokerage practice.

5.The set of exam questions shall b treated as confidential.

Article 7. Form, duration and language of the examination

1.The form and duration of the examination:

Fundamental knowledge: Take a written test or multiple choice tests or the combination of the two aforesaid forms. Examination duration: 120 minutes.

b) Professional knowledge: Take a written test or multiple choice tests or the combination of the two aforesaid forms. Examination duration: 120 minutes.

2.Examination language: Vietnamese language (the foreign candidate can be assisted by an interpreter).

Article 8. Candidates

The candidates include Vietnamese citizens, overseas Vietnamese and foreigners who are eligible for the examination as prescribed in Article 9 and Article 10 of this Circular.

Article 9. Examination requirements

The candidates must satisfy the following requirements:

1.Having full capacity of civil acts and being not investigated for criminal liability or under a prison sentence;

2.Having high-school diploma or higher;

3.Having submitted the application and paid the examination fees to the examination organization unit as prescribed in this Circular.

Article 10. Examinationapplication

1.01 application form with a 4x6cm color picture taken within 06 months prior to the application for examination (using the form stated in Annex 1 of this Circular);

2.01 certified copy of ID Card (if the candidate is a Vietnamese citizen) or Passport (if the candidate is a foreigner) (or the copy enclosed with its original for comparison).

3.01 certified copy of Certificate of completion of a real estate brokerage training course (if any);

4.Certified copy of high-school diploma (or equivalent) or;

5.02 4x6cm color pictures taken within 06 month prior to the application for examination and 02 envelops having stamps and specifying the full name, telephone number and address of the receiver;

6.Certified copy and translation of broker license issued by foreign competent authorities (if the candidate is a foreigner or Vietnamese holder of unexpired broker incense issued by foreign competent authorities).

Article 11. Examinationregistration

1.The applicant for broker license may register for taking the examination nationwide.

2.Annually, the applicant for broker license may submit the application for examination as prescribed in Clause 3 Article 3 of this Circular.

3.Before each examination is organized, each candidate shall directly submit 02 sets of the application as prescribed in Article 10 and pay the examination fees to the examination organization unit (01 set is filed at the examination organization unit and the other is sent to the construction department for granting broker license). Deadline and location for submitting the application are performed as notified by the construction department or the examination organization unit.

Article 12. Qualified exam papers

1.An exam paper is considered as qualified if the following conditions are satisfied:

a) Taking at least 70 marks of fundamental knowledge (out of 100);

b) Taking at least 70 marks of professional knowledge (out of 100);

2.The candidate who has the qualified exam paper as prescribed in Clause 1 of this Article is eligible for the broker license issued by the Director of construction department.

Article 13. Approval and publishing of exam results

1.Basing on results of marking exam papers, the Chairperson of the examiner board shall approve the results of each examination.

2.The exam results shall be published at the examination organization unit and on the website of the construction department.

3.Within 10 days as of the date on which the exam results are published, if any candidate wants to ask for re-examination, he/she must submit the application to the examination organization unit. The examiner board shall organize the re-examination and submit additional list of successful candidates to the Director of construction department for approval.

4.Within 20 days as of the date on which the exam results are published, the examination organization unit shall organize a retaken examination for unsuccessful candidates. The unsuccessful candidate is required to take the retaken examination on failed part of knowledge only. Only one retaken examination is organized and the candidates shall not pay the retaken examination fees.

Article 14. Retention of documents

1.The examination organization unit shall retain documents and materials relating to the testing examination as follows:

a) The following documents shall be retained within 05 years

-Documents relating to the organization of examination: Decision on approving the examination organization unit; decision on establishment of the examiner board; the exam rules; the questions and answers of each exam subject; the list of invigilators;

-Documents relating to the assessment of exam papers: The list of candidates and the list of examiners;

-The candidates’ exam papers;

-Documents of candidates who are qualified for the examination;

-Summation of the exam results and the summation of reexamination results (if any) of each subject.

b) Documents of unsuccessful candidates and those of candidates who are absent from the examination shall be retained within 03 years.

2.The construction department shall retain documents of the license holders within 10 years as of the date of issuance.

Section 2: ISSUANCE OF REAL ESTATE BROKER LICENSE

Article 15. Issuance of real estate broker license

1.A broker license shall be granted to the candidate who has been given with passed marks as prescribed in Article 12 and sufficiently submitted the application as prescribed in Article 10 of this Circular.

2.Order for issuance of broker license:

a) The Chairperson of the examiner board shall submit reports to the Director of construction department on the examination organizing process and approve the exam results at the request of the examination organization unit;

b) Basing on the reports and the approved exam results submitted by the Chairperson of the examiner board, the Director of construction department shall approve the list of individuals who are eligible for the broker licenses (using the form stated in Annex 3a of this Circular).

c) Basing on the approved list of individuals who are eligible for the broker licenses, the examination organization unit shall send the photocopies of exam papers and records of those individuals to the construction department for granting broker licenses.

Within 10 working days as of receiving date of valid records, the construction department shall sign the issuance of broker licenses.

d) The construction department shall retain records of the license holders as stipulated in Clause 2 Article 14 of this Circular.

3.The license holder shall pay VND 200,000 of the fees for issuing the broker license at the construction department when he/she receives his/her broker license. The construction department shall spend this collection in accordance with the law on costs and fees.

4.The broker license is valid nationwide within 05 years as of the date of issuance.

5.Form of broker license shall apply Annex 4a of this Circular.

6.The individual may receive his/her broker license at the construction department or the examination organization unit. Failing in direct receipt of broker license, such broker license shall be sent to the holder by post.

7.The license holder must comply with the following provisions:

a) Not to change or erase the license contents;

b) Not to lease, lend or authorize any organization or individual to use the name and the broker license to conduct any real estate brokerage activities;

c) Not to use the broker license for any illegal purpose.

8.Upon an end of each examination for testing and granting broker license, the construction department shall submit reports to the Ministry of Construction on the examination organizing situation and the list of license holders; and publish the list of license holders on its website (using the form stated in Annex 3b of this Circular).

9.Annually, the provincial construction department shall submit reports to the Ministry of Construction on issuing results of broker license ahead of the 15^thof December.

Article 16. Re-issuance of the real estate broker license

1.If the broker license is lost, torn, fired or destroyed by the act of God or the force majeure, the holder can apply for the reissuance.

2.The application for re-issuance of broker license is submitted to the construction department issuing the former license, including:

a) The application form for re-issuance of broker license with picture (using the form stated in Annex 5 of this Circular);

b) 02 4x6cm pictures taken within 06 months prior to the submission of application;

c) Former broker license (if any).

3.Within 10 working days as of the receiving date of valid application as prescribed in Clause 2 of this Article, the construction department shall check the application and re-issue the broker license (the word “re-issuance” shall be stated in the re-issued broker license).

4.The applicant for re-issuance shall only pay VND 200,000 (two hundred thousand dongs) to the construction department to carry out re-issuance affairs.

5.The broker license is once re-issued and the license number is the old one. The re-issued license is valid within 05 years as of the issued date of the former license (using the form stated in Annex 4b of this Circular).

Article 17. Regulations on expired license

1.The holder of an expired broker license is not allowed to practice in real estate brokerage.

2.The holder of an expired or expiring license must attend a testing examination for re-issuance of license in accordance with the following provisions:

a) If the applicant submits the application for examination to the authorities issuing former broker license, he/she shall only take the examination on fundamental knowledge as prescribed in this Circular for reissuance of broker license, the number of the r-issued license shall be the same with the old one and the phrases “second issuance" or "third issuance" must be specified at page 01 of the re-issued license (using the form stated in Annex 4c of this Circular);

b) If the applicant submits the application for examination to other authorities, he/she must carry out procedures for the examination as those for a new license but only take examination on fundamental knowledge.

3.The application includes:

a) The application stated in Article 10 of this Circular;

b) The former broker license (original), applicable to the expired license, or certified copy of the expiring license.

4.The registration for examination is performed as prescribed in Article 11 of this Circular.

5.Basing on actual situation, the construction department shall hold a separate examination for the holders of expired licenses or arrange them to take the examination together with the candidates for new licenses.

Article 18. Revocation of real estate broker license

1.The real estate broker license shall be revoked in the following cases:

a) The license holder has lost his/her capacity for civil acts;

b) The license holder has declared deceitful information in his/her application;

c) The broker license is erased or altered;

d) The broker license is lent or leased to another person;

dd) The license holder has violated the principles of practice as stipulated in the Law on real estate trading and the contents specified in the license;

e) The license holder has violation acts resulting in his/her license revoked as stipulated by the laws.

2.The broker license is revoked by the construction department issuing such broker license. If it is revoked by other competent agencies in accordance with the laws, a written notice shall be sent to the construction department issuing such broker license for knowing and implementing as prescribed in Clause 4 of this Article.

3.The person whose license is revoked can not ask for reissuance of broker license within 05 years as of the issuing date of decision on license revocation.

4.After the decision on license revocation is granted, the construction department issuing such broker license shall notify the license holder to resubmit his/her license. The construction department shall publish the name of the person whose broker license is revoked on the mass media and on its website and delete such name from the website of the construction department.

Chapter III

GUIDELINES FOR TRAINING AND IMPROVING KNOWLEDGE OF REAL ESTATE BROKERAGE PRACTICE AND MANAGEMENT OF THE REAL ESTATE TRADING FLOOR

Section 1: CERTIFICATION OF A FACILITY’S ELIGIBILITY FOR TRAINING AND IMPROVING KNOWLEDGE OF REAL ESTATE BROKERAGE PRACTICE AND MANAGIEMENT OF THE REAL ESTATE TRADING FLOOR

Article 19. Requirements for a facility training and improving knowledge of real estate brokerage practice and management of the real estate trading floor (hereinafter referred to as the training facility)

The training facility must satisfy the following conditions:

1. Legal entities

a) The training facilities permitted by the competent authorities;

b) Enterprises or economic organizations whose business lines include training and improving professional knowledge;

c) Other organizations which are established and authorized by the competent authorities to carry out the professional knowledge training functions and tasks.

2. Training infrastructure

The classroom’s area must be in conformity with the number of students and equipment meeting teaching and learning demand. In case of lease, the lease contract must be executed in accordance with the laws (it’s not allowed to lease a residential house to use as a classroom).

3. Lecturers

a) At least 30% of total lecturers of the training facility are regular lecturers or lecturers with indefinite-term contracts (with payment of insurance);

b) Standards: A lecturer is a professional educator, specialist or manager with bachelor s degree or higher in major suitable for teaching contents. The lecturer has at least 05 years of experience.

4. Teaching materials

a) The training facility shall provide with syllabi and the set of testing questions with the contents suitable to the framework program as stipulated in Annex 6 of this Circular. The head of the training facility must approve and bear responsibility for the syllabi.

b) The framework program is divided into 02 parts as follows:

-The framework program for training and improving knowledge of real estate brokerage practice;

-The framework program for training and improving knowledge of management of the real estate trading floor.

5. Facilities for internship

The training facility must arrange students into real estate trading enterprises, real estate brokerage offices or real estate trading floors for internship for at least 02 days.

6. Management of training activities

The training facility must establish a managing division for holding the training courses, storing students records and other documents relating to the training activities; set up training management rules; and the course manager must have at least 03 years experience in organization of training and improving courses.

Article 20. Registration of training activities and certification of a facility’s eligibility for training and improving knowledge of real estate brokerage practice and management of the real estate trading floor (hereinafter referred to as a qualified training facility)

1. Registration of training activities: The training facility that has satisfied all requirements stated in Article 19 of this Circular may prepare and send 01 set of application to the Ministry of Construction for considering and certifying the facility’s eligibility for training.

2. The application includes:

a) An official dispatch which shall be sent to the Ministry of Construction asking for permission in organization of training activities;

b) Establishment decision in case the training facility is established by the competent authorities; business registration certificate or certificate of establishment registration in case the training facility is an enterprise (certified copies);

c) List of training infrastructure and equipment, and documents proving the location of training activities (using the form stated in Annex 7 of this Circular).

d) Teaching materials, the set of testing questions and decision on approval of the head of the training facility;

dd) List of lecturers (using the form stated in Annex 8 of this Circular).

e) Lecturer’s declaration on professional qualification and actual teaching experience (using the form stated in Annex 9 of this Circular), enclosed with copy of teaching contract or labour contract.

g) Joint-training contracts or written approval of the units where students shall be arranged into for internship.

h) The training rules include the following contents:

-Regulations on enrollment;

-Regulations on student’s application;

-Regulations on training duration;

-Regulations on seminars and volume of each seminar;

-Regulations on internship;

-Regulations on course-end exams, grading system and assessment of exam papers;

-Criteria for evaluating and ranking study results;

-Regulations on requirements for issuance of certificate of completion.

3. Certification of a facility’s eligibility for training:

The Ministry of Construction shall verify the application (an actual inspection may be conducted at the training facility) and compare with the laws. If the training facility is qualified, the Ministry of Construction shall grant certificate of facility’s eligibility for training. This certificate is sent to the training facility and the construction department of the province where the head office of the training facility is located and published on the website of the Ministry of Construction.

4. The training facilities which have been certified by Ministry of Construction succeeding the effective date of this Circular shall maintain their training activities. The aforesaid training facilities must satisfy all requirements stipulated in Article 19 of this Circular and submit all documents required in Clause 2 of this Article to the Ministry of Construction ahead of July 01, 2016. If all conditions are satisfied, the Ministry of Construction shall grant a written approval for maintaining training activities. As of July 01, 2016, if the training facility fails in submitting required documents, it s considered as stopping its training activities and its name shall be deleted from the website of the Ministry of Construction.

Section 2: ORGANIZATION OF TRAINING ACTIVITIES AND ISSUANCE OF CERTIFICATE OF COMPLETION

Article 21. Organizing training activities

1. In the course of organization of training activities, the training facility must comply with the following provisions:

a) Notify the enrollment including the training fields, requirements for students, the training program and contents, duration, location and tuition of the training course, and other necessary information;

b) Disseminate the training rules and provide students with the learning materials on the starting date of the training course.

c) Organize program-based teaching and learning activities that uphold contents and duration. The lecturers must execute their teaching duties according to registered list of lecturers. Control student’s study period by means of taking roll call with lecturer s confirmation. If the student’s attendance rate is less than 80% of total periods of a seminar, he/she must repeat that seminar to be eligible for attending the course-end exam.

d) Test, evaluate and rank study results for granting certificate of completion to qualified student:

-The training facility shall arrange students into real estate brokerage offices, real estate trading floors or real estate trading enterprises for the course-end internship at with sufficient duration for preparing reports.

-Student is eligible to attend the course-end exam only when he/she has satisfied requirements on attendance rate and duration of internship.

-Hold course-end exams; the examiners are included in the list of lecturers which is registered by the training facility for certification of its eligibility for training;

-The testing contents shall be compiled by the training facility provided that such contents must be in conformity with the framework program stated in Annex 6 of this Circular.

dd) Take opinions contributed by the students on the course.

2. The training courses must be regularly organized with sufficient training period and contents stated in the framework program attached to this Circular. The training facility is encouraged to expand contents of each seminar and provide more advanced seminars in the training course.

3. The number of students shall not exceed 100 persons for each class for ensuring teaching and learning quality.

4. The training facility makes decision on the rate, management and use of the tuition on the basis of ensuring reasonable expenses of the training course and compliance with the laws.

Article 22. Evaluation of student results and consideration of the eligibility for granting certificate of completion

1. The head of the training facility shall make decision on establishing the evaluation council and promulgating the operating rules of such council for managing organization affairs, evaluating testing results, ranking students at the end of course and considering the eligibility for granting certificates of completion to qualified students.

2. Students with GPA of all tests and reports from 70 marks (out of 100) are considered as qualified students.

3. Certificate of completion includes:

a) Certificate of completion of the training and improving course in real estate brokerage knowledge (using the form stated in Annex 10a of this Circular).

b) Certificate of completion of the training and improving course in knowledge of management of the real estate trading floor (using the form stated in Annex 10b of this Circular).

Certificate of completion of each part of the training course shall be granted to student upon his/her study and completion.

Article 23. Retention of documents and reports

1. Retention of documents

The training facility shall retain documents after each training course within at least 5 years for serving the inspection of the state competent authorities and re-issuance of certificates to students, including:

-List of students and admission documents;

-Decision and list of students who are eligible for granting certificate of completion;

-Students’ exam papers and reports;

-The training facility’s minutes on evaluation of study results;

-List of lecturers in charge of the training course.

2. Report policies

The training facility shall send reports on training results of each course to the construction department of the province where its head office and the classroom are located (using the form stated in Annex 11 of this Circular).

For every 06 months and annually, the construction department shall submit reports to the Ministry of Construction on training status.

The Housing and Real Estate Market Management Agency (Ministry of Construction) shall coordinate with the construction department of provinces to inspect the training facilities for timely taking action against violations in training activities.

Chapter IV

REGULATIONS ON ESTABLISHMENT AND ORGANIZATION OF ACTIVITIES OF REAL ESTATE TRADING FLOOR

Article 24. Guidelines for establishment of real estate trading floor

1. The organization or individual who want to establish the real estate trading floor (hereinafter referred to as the floor) must satisfy all conditions prescribed in Article 69 of the law on real estate trading. Particulars are as follows:

a) The organization or individual who want to establish the real estate trading floor must establish an enterprise;

b) The real estate trading floor requires at least 02 members with real estate broker licenses.

c) The manager of the real estate trading floor must have the real estate broker license.

d) The real estate trading floor must have operating rules, unchanged name and address within at least 12 months. Any change must be notified to the construction department and the customers;

dd) Minimum area of the real estate trading floor is 50m²with technical equipments for meeting operating requirements.

2. The real estate trading floor may be an independent enterprise or an affiliated unit of an enterprise.

3. Before the real estate trading floor starts its operations, the enterprise must send the following documents to the construction department:

a) Business registration certificate or registration certificate of establishment of enterprise (certified copies);

b) Operating rules of the real estate trading floor;

c) List of brokers and certified copies of their real estate broker licenses;

d) Certified copy of real estate broker license of the manager of the real estate trading floor.

dd) Certified copy of certificate of completion of the training course of knowledge of management of the real estate trading floor of the manager of the real estate trading floor;

e) Certified copies (or copies enclosed with the originals for comparison) of documents proving the location and area of the real estate trading floor;

g) Certified copies of documents relating to the establishment of the real estate trading floor (including: Decision on establishing the real estate trading floor; Decision on appointing the manager of the real estate trading floor).

The construction department shall check the aforesaid documents and publish the information of the real estate trading floor on its website. Concurrently, the construction department shall send reports to the Housing and Real Estate Market Management Agency - Ministry of Construction for managing and publishing the information of the real estate trading floor on the website of the Housing and Real Estate Market Management Agency. Information of the real estate trading floor includes: Name of the real estate trading floor; name of the enterprise establishing the real estate trading floor; full name of the floor’s manager; address and telephone number of the real estate trading floor (using the form stated in Annex 12 of this Circular) The real estate trading floor must notify the construction department of any change of its information for adjustment.

Article 25. Organization model

1. The real estate trading floor may be an independent enterprise or an affiliated unit of an enterprise and all operations of the real estate trading floor shall be governed by the enterprise. The company’s legal representative and the manager of the real estate trading floor shall bear responsibility for all operations of the real estate trading floor.

2. The floor’s manager is appointed by the enterprise’s legal representative to manage the real estate trading floor and shall bear responsibility before the law for all operations of the real estate trading floor.

3. Organizational structure of the real estate trading floor includes the floor’s manager (or floor s Director) and specialized divisions in conformity with the floor s operation.

Article 26. Activities of the real estate trading floor

1. The activities of the real estate trading floor are performed in accordance with Article 70 of the Law on real estate trading in 2014.

2. The real estate trading floor must publish information of the real estate which is traded on the floor in accordance with Section 2 Article 6 of the Law on real estate trading in 2014.

3. The real estate trading floor shall verify legal documents of the real estate before it is traded on the floor. The real estate shall be introduced to the customers only when all trading conditions are satisfied. The real estate trading floor shall bear responsibility before the customers and the law for the information provided for the customers.

4. All services of the real estate trading floor must be carried out by means of contracts.

5. Rights and obligations of the enterprise trading in services of the real estate trading floor are executed in accordance with Article 71, 72 of the Law on real estate trading in 2014. Rights and obligations of organizations and individuals joining the real estate trading floor are executed in accordance with Article 73 of the Law on real estate trading in 2014.

6. The real estate trading floor shall prepare monthly reports on trading status via the floor (using the form stated in Annex 13 of this Circular). Monthly reports shall be sent to the construction department and the Ministry of Construction ahead of the 05^thof the next month.

7. The real estate trading floor shall effectuate the anti-money laundering plan and prepare reports on anti-money laundering in accordance with the anti-money laundering law.

Chapter V

IMPLEMENTATIONPROVISONS

Article 27. Transitionalprovisions

1. The real estate broker licenses which are issued ahead of July 01, 2015 (the effective date of the law on real estate trading) shall take effect within 05 years as of July 01, 2015. The real estate broker licenses or certificates for practice in real estate brokerage which are issued as of July 01, 2015 shall take effect within 05 years as of the date of issuance.

2. The training facility whose eligibility for training is certified by the Ministry of construction ahead of the effective date of this Circular shall continue its training operations. The training facilities must satisfy all conditions stipulated in Article 19 of this Circular and send reports to the Ministry of Construction as prescribed in Clause 4 Article 20 of this Circular ahead of July 01, 2016.

3. The real estate trading floors which are established ahead of the effective date of this Circular shall continue their operations. The real estate trading floors must satisfy all conditions stipulated in Clause 1 Article 24 of this Circular ahead of July 01, 2016.

Article 28. Implementation effect

This Circular takes effect on February 16, 2016.

The following documents shall be annulled from the effective date of this Circular:

-The Circular No. 13/2008/TT-BXD dated May 12, 2008 of Ministry of Construction providing guidelines for a number of contents of the Government’s Decree No. 153/2007/NĐ-CP dated October 15, 2007 on guidelines for implementing the Law on real estate trading;

-Decision No. 29/2007/QĐ-BXD dated December 31, 2007 of the Minister of Construction promulgating the framework program for training and improving knowledge of real estate brokerage, real estate price appraisal and management of the real estate trading floor.

Article 29. Implementation organization

1. The Housing and Real Estate Market Management Agency shall provide guidelines and inspect the testing examination and granting real estate broker licenses as stipulated by this Circular; consider and recognize a unit as qualified unit for holding training courses in real estate brokerage and management of the real estate trading floor; coordinate with the construction departments to inspect the training and improving courses in knowledge of real estate brokerage and management of the real estate trading floor; inspect the operations of the real estate trading floors as stipulated by this Circular.

2. The construction department shall organize the examinations for testing and granting real estate broker licenses and guide and check the implementation of this Circular at its locality.

3. Any question arising in the course of implementation should be sent to the Ministry of Construction for solution.

For the Minister

The Deputy Minister

Pham Hong Ha