Guidance on amending contracts for executing ministerial-level science and technology tasks in Vietnam from October 16, 2024

Guidance on amending contracts for executing ministerial-level science and technology tasks in Vietnam from October 16, 2024 (Image from the Internet)

On August 30, 2024, the Governor of the State Bank of Vietnam issued Circular 45/2024/TT-NHNN which provides regulations on the management and organization of science and technology tasks at the State Bank of Vietnam.

Guidance on amending contracts for executing ministerial-level science and technology tasks in Vietnam from October 16, 2024

Article 22 of Circular 45/2024/TT-NHNN provides guidelines for amending contracts for executing ministerial-level science and technology tasks in Vietnam as follows:

- Extension of the implementation period for ministerial-level science and technology tasks:

+ The extension of the implementation period for ministerial-level science and technology tasks is applicable in the following cases:

++  In  cases  where  the  contract  for  implementing  ministerial-level  science  and  technology  tasks  is  about  to  expire,  and  there  is  a  need  to  extend  the  implementation  period,  the  leading  organization  for  the  science  and  technology  task  should  submit  a  written  request  for  an  extension  to  the  Banking  Strategy  Institute  at  least  30  days  prior  to  the  end  of  the  contract  period.  This  should  include  a  report  on  the  current  status  of  the  task  and  specify  the  reasons  for  the  delay.++  Cases  as  specified  in  point  a,  clause  2,  Article  27  of  Circular 45/2024/TT-NHNN where the leading organization submits a written request for an extension to the Banking Strategy Institute.

+ Within 15 days from the receipt of the written request for the extension, the Banking Strategy Institute is responsible for reviewing the request and submitting it to the Governor for consideration and approval.

+ If the Governor approves the extension, the extended period will be calculated from the end date of the original contract and will be specified in the extension decision. The extension period is capped at 12 months for tasks with an original duration of more than 24 months, 6 months for tasks up to 24 months, and 3 months for tasks up to 12 months. In exceptional cases, the extension period is decided by the Governor.

+ If the extension is not approved, the Banking Strategy Institute will notify the leading organization or individual responsible for the task.

- Changes to the principal investigator and task members:

+ If the principal investigator is unable to continue the task, the leading organization should submit an explanation and nominate a replacement to the Banking Strategy Institute.

+ If it becomes necessary to change the task members from the originally agreed-upon contract, the principal investigator should submit a written explanation, obtain confirmation from the leading organization, and send it to the Banking Strategy Institute.

+ Within 15 days from the receipt of the written request for changes, the Banking Strategy Institute is responsible for reviewing the request, submitting it to the Governor for approval, and providing written notification to the leading organization or individual responsible for the task.

- The adjustment of funding for ministerial-level science and technology tasks will be carried out according to the laws related to the budgetary allocation and use of State Bank funds.

- All related documents for adjusting the contract for implementing ministerial-level science and technology tasks are an integral part of the contract.

Refer to Circular 45/2024/TT-NHNN which takes effect in Vietnam from October 16, 2024, and replaces Circular 37/2015/TT-NHNN regarding the management and organization of science and technology tasks using state budget funds under the responsibility of the State Bank of Vietnam.

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