Measures to Ensure Online Bidding

16:49, 11/07/2024

On November 15, 2017, the Ministry of Planning and Investment issued Circular 04/2017/TT-BKHDT to specify measures for ensuring online bidding.

Circular 04 stipulates that when participating in online bidding, the bidder must provide the bid security measure before the bid closing time in the form of a letter of guarantee issued by a bank or credit institution legally operating in Vietnam. For banks and credit institutions integrated with the National Bidding Network System (hereinafter referred to as the System), bidders implement online bid security. For banks and credit institutions not yet integrated with the System, bidders must scan the bank's letter of guarantee and attach it when submitting the E-HSDT. In this case, the bidder must commit to submitting the original bid security guarantee as required.

Cases that require submission of the original bid security letter to the procuring entity:

- The bidder is invited for contract negotiation;- The bidder violates legal regulations on bidding, leading to bid security forfeiture.

Within 05 working days from the date of receiving the request from the procuring entity, if the bidder refuses to submit the original bid security letter as requested, the bidder will be handled according to the commitments outlined in the bidding documents.

See more details at Circular 04/2017/TT-BKHDT effective from March 1, 2018.

- Thao Uyen -

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