Temporarily suspend operations of the real estate trading floor

Article overview

Temporarily shutting down the real estate trading floor gives stakeholders time to reassess strategies, optimize processes, and improve staff skills. At the same time, this is also an opportunity to update and comply with new legal regulations, thereby bringing long-term benefits to customers and investors. The following article will analyze in detail the important aspects of the temporary suspension of real estate trading floor.

Activities of real estate trading floor
Activities of real estate trading floor

Cases of temporary suspension of operations of real estate trading floor

Clause 5, Article 17 of Decree 96/2024/ND-CP specifically regulates cases of temporary suspension of operations of real estate trading floor. This suspension can occur in two main situations:

  • Firstly, when the real estate trading floor does not meet the operating conditions according to legal regulations.
  • Second, when the exchange decides to temporarily suspend operations.

In case the floor is not qualified to operate, the state management agency on real estate business at the provincial level will issue a decision to temporarily suspend operations. This decision is based on an assessment of the exchange’s compliance with legal regulations and business conditions. Factors such as business licenses, financial capacity, facilities and personnel are all carefully considered.

In cases where the exchange temporarily suspends operations, the notification process needs to be strictly followed. The floor must send a written report on the temporary suspension of operations to the state management agency on real estate business at the provincial level, the tax agency and the statistical agency in the locality where it is registered to operate and is headquartered. The deadline for submitting this report is no later than 10 working days before the expected date of suspension.

Consequences of temporarily suspending real estate trading floor

The temporary suspension of operations of the real estate trading floor entails many important consequences, which are specifically stipulated in Clause 5, Article 17 of Decree 96/2024/ND-CP. During the suspension period, the exchange must still fulfill all financial and legal obligations. This includes paying all outstanding taxes, continuing to pay other debts, and completing contracts signed with real estate brokers and workers.

For service contracts that have been signed with customers but have not yet been completed, the trading floor is responsible for agreeing with customers on a solution plan. This may include refunding the deposit, transferring the contract to another unit, or proposing reasonable compensation options. This process requires transparency and fairness to ensure the rights of all stakeholders.

In addition, the temporary shutdown also affects the ongoing real estate transaction process. These transactions may stall, requiring intervention and adjustment from the exchange. This may lead to delays in completing transfer contracts, price appraisals, and real estate transaction registration.

Cases of temporary suspension of operations of real estate trading floor
Cases of temporary suspension of operations of real estate trading floor

After the temporary suspension, can the real estate trading floor resume operations?

According to the provisions of Clause 5, Article 17 of Decree 96/2024/ND-CP, real estate trading floor can resume operations after a temporary suspension, depending on specific situations. In cases where the exchange temporarily suspends operations, resuming operations requires compliance with strict reporting procedures. The floor must send a written notice of continued operation to the state management agency on real estate business at the provincial level, the tax agency, and the statistical agency in the locality where it is registered to operate and is headquartered. .

The deadline for submitting a report on resumption of operations is no later than 10 working days before the expected date of resumption of operation. This regulation is intended to ensure that the authorities have enough time to review and evaluate the operation of the exchange.

In case the trading floor is temporarily suspended due to not meeting the legal requirements, resumption of operation requires approval from the competent state management agency.

To be allowed to operate again, the exchange needs to demonstrate that it has fixed the problems that led to the initial suspension of operations. This may include updating business licenses, improving financial capacity, improving facilities, or adding qualified personnel… This process requires careful preparation and compliance. strict legal regulations on real estate business.

 Resumption of operation of the real estate trading floor
Resumption of operation of the real estate trading floor

Some notes when temporarily suspending operations of real estate trading floor

When temporarily suspending operations, real estate trading floor need to pay attention to a number of important points to ensure compliance with the law and protect the interests of related parties. First, the notification of temporary suspension of operations must be carried out in accordance with the correct procedures and deadlines. The exchange needs to send a written notice to state management agencies, local tax and statistics agencies at least 10 working days before the suspension date.

During the suspension period, the exchange must fulfill its financial obligations, including paying all outstanding taxes and paying other debts. At the same time, the implementation of contracts with real estate brokers and workers needs to be completed, unless otherwise agreed. For unfinished service contracts with customers, the floor needs to agree on a specific solution.

The trading floor also needs to pay attention to the preservation and storage of records and documents related to business activities during the temporary suspension period. This is especially important to serve inspection activities, resolve disputes (if any) and prepare for later restoration of operations. Compliance with real estate legal regulations and real estate consulting services must still be strictly maintained during the suspension period.

Consulting services on operations and temporary suspension of operations of real estate trading floor

In the complex context of the real estate market, professional consulting services play an important role for trading floors. Long Phan provides services including:

  • Consulting on the process of notifying resumption of operations and notifying temporary suspension of operations of real estate trading floor;
  • Drafting documents announcing the resumption of operations or temporary suspension of operations of the real estate trading floor;
  • Consulting on issues related to trading floor issues that must be maintained after the announcement of temporary suspension of operations;
  • Consulting on solutions for service contracts that the floor has signed with customers but have not yet completed;
  • Other issues as prescribed by law.

Temporarily suspending the operation of a real estate trading floor is a complex process, requiring careful preparation and strict compliance with legal regulations. To ensure your rights and avoid legal risks, customers should consult experts. Contact hotline immediately 0906735386 for detailed advice on issues related to real estate trading floor, including procedures for suspending and restoring operations.