Decree 95: Evaluation of the validity of financial proposal in Vietnam

Decree 95: Evaluation of the validity of financial proposal in Vietnam (Illustrative Image)

Decree 95/2020/ND-CP specifically regulates the evaluation of the validity of financial proposals in bidding process in procurement under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership in Vietnam as follows:

1. Checking the validity of the financial proposal, including:

- Checking the number of original and photocopy financial proposals;

- Checking the components of the financial proposal, including the letter of bid within the financial proposal; the summary price table, detailed price table; detailed unit price analysis table (if any); other components of the financial proposal;

- Checking the consistency of the content between the original and photocopy to facilitate the detailed evaluation of the financial proposal.

2. Evaluating the validity of the financial proposal:

The financial proposal of the bidder  in Vietnam is deemed valid when it fully meets the following criteria:

- There is an original financial proposal;

- There is a letter of bid within the financial proposal signed, and sealed (if any) by the legal representative of the bidder according to the requirements of the bidding documents; the time of signing the letter of bid must match the start time of the bidder selection organization; the bid price stated in the letter of bid must be specific, fixed in numbers, in words, and the bid price in numbers or words must be consistent and logical with the total bid price recorded in the summary price table, not proposing different bid prices or including conditions unfavorable to the investor. For consortium bidders, the letter of bid must be signed, and sealed (if any) by the legal representative of each member of the consortium or the member assigned to sign the letter of bid on behalf of the consortium as per the divisional responsibility agreement in the consortium agreement;

- The validity of the financial proposal meets the requirements specified in the bidding documents.

Note: Bidders with valid financial proposals will be evaluated in detail regarding finances.

3. Detailed evaluation of the financial proposal and ranking of bidders:

Detailed evaluation of the financial proposal and ranking of bidders in Vietnam shall be conducted according to the evaluation criteria specified in the bidding documents. Where only one bidder meets the technical requirements and has its financial proposal opened, approval of a ranking list of bidders is required.

After selecting the ranking list of bidders, the expert group shall prepare a report and submit it to the procuring entity for consideration. The report must clearly state the following contents:

- List of bidders considered, ranked, and their ranking order;

- List of bidders who did not meet the requirements and were eliminated; reasons for eliminating bidders;

- Comments on competitiveness, fairness, transparency, and economic efficiency in the contractor selection process. If competitiveness, fairness, transparency, and economic efficiency are not ensured, reasons must be clearly stated and proposed solutions;- Contents of the bidding documents that do not conform to legal regulations on bidding result in unclear or different interpretations during implementation or may lead to the distortion of contractor selection results (if any); proposed handling measures.

Details can be viewed in Decree 95/2020/ND-CP effective August 24, 2020.

Ty Na

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