Mandatory Requirement for Bank Transfers in Construction Contract Payments?

View Post in Vietnamese: >> Bắt buộc phải chuyển khoản trong thanh toán hợp đồng xây dựng?

I would like to inquire about the form of payment for a construction contract worth VND 200 million. I am wondering if it is mandatory by law to make the payment via bank transfer or if it is possible to pay in cash?

Based on Clause 3, Article 21 of Decree 37/2015/ND-CP, the regulations are as follows:

The form of payment may be in cash, bank transfer, or other methods as agreed upon by the parties in accordance with legal regulations and must be specified in the contract.

Thus, payment for the construction contract can be made via bank transfer or in cash.

Respectfully!

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