Project owner is the only entity responsible for payment and settlement for construction investment projects in Vietnam
This is an important content of the Law on amendments to Construction Law 2020 amending some contents of the Construction Law 2014.
Article table of contents
According to Clause 52 Article 1 of the Law on amendments to Construction Law 2020 of Vietnam, the entity responsible for payment and settlement for construction investment projects is prescribed as following:
The payment and settlement for construction investment projects must comply with the Law on management of investment capital. The payment and settlement for projects using public investment funds shall comply with regulations laid down herein and the Law on public investment. Project owners shall take responsibility before law for the accuracy and lawfulness of unit prices, volumes and values requested for payment or settlement in payment or settlement dossiers.
According to Clause 1 Article 137 of the Construction Law 2014 of Vietnam:
The payment and settlement for construction investment projects must comply with the law on management of investment capital. Project owners or their lawful representatives shall take responsibility before law for the accuracy and lawfulness of unit prices, volumes and values requested for payment in payment dossiers.
It can be seen that according to the previous provision, project owners or their lawful representatives shall take responsibility before law for the accuracy and lawfulness of unit prices, volumes and values requested for payment in payment dossiers. However, according to current regulation, the Law on amendments to Construction Law 2020 of Vietnam has eliminated lawful representatives of project owners. Thus, the project owner is the only entity responsible for payment and settlement for construction investment projects.
View more details at the Law on amendments to Construction Law 2020 of Vietnam, effective from January 01, 2021.
Phuong Thanh
- Prime Minister of Vietnam requests strong and effective implementation of general inventory of public assets tasks
- Requirements for environmental protection in the collection, transportation, and treatment of household solid waste in Vietnam from February 3, 2025
- Research, development, and establishment of a carbon credit trading exchange in Vietnam
- Subjects equipped with military weapons, explosive materials, support tools of the Public Security Forces in Vietnam from January 1, 2025
- Provisions on fire prevention in the installation and use of electricity for domestic and production activities in Vietnam from July 1, 2025
- Investigation, collection of information and, and documents related to the establishment of provincial-level land use planning in Vietnam from December 12, 2024
-
- Vietnam: Only 6 subjects are required to have ...
- 10:10, 09/04/2021
-
- Vietnam: Supplementing 03 cases where project ...
- 09:50, 01/01/2021
-
- Adequate funds are not required for commencement ...
- 09:10, 01/01/2021
-
- Vietnam: Building a house with more than 6 stories ...
- 10:10, 30/12/2020
-
- New: Provincial-level People's Committees shall ...
- 15:10, 26/12/2020
-
- Prime Minister of Vietnam requests strong and ...
- 17:00, 23/12/2024
-
- Requirements for environmental protection in the ...
- 16:30, 23/12/2024
-
- Conditions and authority for issuing national ...
- 10:30, 23/12/2024
-
- Procedures for revocation of license and termination ...
- 10:00, 23/12/2024
-
- Research, development, and establishment of a ...
- 08:30, 23/12/2024
