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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.
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:
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.
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.
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.
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.
In the complex context of the real estate market, professional consulting services play an important role for trading floors. Long Phan provides services including:
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.
Note: The content of the articles published on the website of Long Phan Investment Consulting Company is for reference only regarding the application of legal policies. Depending on the time, subject, and amendments, supplements, and replacements of legal policies and legal documents, the consulting content may no longer be appropriate for the situation you are facing or need legal advice on. In case you need specific and in-depth advice according to each case or incident, please contact us through the methods below. With our enthusiasm and dedication, we believe that Long Phan will be a reliable solution provider for our clients.
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