Vietnam: What is an adjustable unit price contract? What is the form of bid price tables according to the adjustable unit price contract?
What is the bid price? What is an adjustable unit price contract in Vietnam?
Pursuant to the provisions of Clause 17, Article 4 of the Law on Bidding 2013, the interpretation of terms follows:
Bid price means the price stated by a bidder in application for bid participation, quotation, including all costs for performance of package as required by Bids, Request for Proposals.
Pursuant to the provisions of Clause 3, Article 62 of the Law on Bidding 2013, regulations on adjustable unit price contract are prescribed as follows:
Contract type
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3. Adjustable unit rate contract:
Adjustable unit rate contract means contract with changeable unit price based on agreements in contract for all work contents in contract. The contractor will be paid according to the practical work quantity and volume which are tested for acceptance as prescribed on the basis of the unit price in contract or the modified unit price.
Accordingly, an adjustable unit price contract is a contract with a unit price that can be adjusted based on the agreements in the contract for all work contents in the contract.
What are the conditions for bidding contracts to apply contractual prices in Vietnam?
Pursuant to the provisions of Points b and c, Clause 5, Article 15 of Decree 37/2015/ND-CP stipulating the conditions for application of contractual prices as follows:
Contractual price of fixed unit price:
Contractual price of fixed unit price applied to bid packages at the date of contractor selection and contract negotiation has met conditions for determination of unit price for the implementation of the works under the construction contract but quantity of work is not yet determined. Then, risky elements of unit price such as slippage in prices must be taken into account during the contract implementation period and each party must be responsible for its own risks as well as anticipating provisional budget for risky elements of bid price and contractual price such as slippage in prices and quantity.
Adjustable unit price contract:
Adjustable unit price contract applied to bid packages at the date of contractor selection and contract negotiation has not yet met conditions for determination of quantity, unit price and elements of contractual price such as slippage in prices during the contract implementation period and the parties must be responsible for anticipating provisional budget for risky elements of bid price and contractual price such as slippage in prices and quantity.
Vietnam: What is an adjustable unit price contract? What is the form of bid price tables according to the adjustable unit price? (Image from the internet)
What is the form of bid price tables according to the adjustable unit price contract in Vietnam?
According to the form No. 04c issued together with Circular 11/2015/TT-BKHDT stipulating the form of bid price tables according to the adjustable unit price contract in Vietnam as follows:
See the form of bid price tables according to the adjustable unit price contract in Vietnam: Click here.
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