In case a bidding process is cancelled, how long must relevant documents be retained in Vietnam?

In case a bidding process is cancelled, how long must relevant documents be retained in Vietnam?

Pursuant to Article 14 of Decree No. 35/2021/ND-CP stipulating retention of bidding information as follows:

1. All documents relevant to the process of investor selection shall be retained for at least 03 years after the project execution contract is terminated, except for the documents specified in Clause 2, 3, 4 of this Article.

2. Financial - commercial proposals of investors that fail the technical evaluation shall be returned as is to them together with the return or release of bid security paid by unsuccessful investors. In case an investor refuses to receive the documents, the procuring entity shall consider destroying them while ensuring confidentiality of information therein.

3. In case a bidding process is cancelled, relevant documents shall be retained for 12 months from the day on which the project cancellation decision is issued.

4. Documents about finalization of the project execution contract and successful investors shall be retained in accordance with regulations of law on document retention.

Thus, according to the above provisions in Vietnam, in case case a bidding process is cancelled, relevant documents shall be retained for 12 months from the day on which the project cancellation decision is issued.

How much is fine for failure to retain relevant documents in Vietnam?

In Clause 1, Article 38 of Decree 122/2021/ND-CP, other violations against regulations on bidding are as follows:

1. A fine ranging from VND 20,000,000 to VND 30,000,000 shall be imposed for any of the following violations:

a) Failure to retain or adequately retain documents during the bidder selection process in accordance with regulations of law on bidding;

b) Failure to meet the prescribed deadlines during the bidder selection process in accordance with regulations of law on bidding;

c) Failure to periodically reporting the bidding in accordance with regulations of law on bidding;

d) Failure to provide or sufficiently or punctually provide information and documents about the bidding to facilitate inspection, monitoring and supervision of bidding activities.

According to the above provisions in Vietnam, in case of failure to retain bidding documents, a fine of from VND 20,000,000 to VND 30,000,000 may be imposed.

Best Regards!