Regulations on Advances and Payment of Costs for Channel Dredging and Maintenance

Tuyết Hoan

14:20, 11/07/2024

Circular No. 58/2015/TT-BTC guiding the preparation, allocation, payment, and finalization of funding for the implementation of public service provisions for dredging and maintaining maritime routes managed by the Ministry of Transport.

In which the Circular stipulates the advance payment and settlement of dredging and marine navigation channel maintenance costs as follows:

Advance Payment of Funds

After signing the contract, the Vietnam Maritime Administration shall advance to the Maritime Safety Corporations and the survey consulting and monitoring consulting units not exceeding 30% of the contract value and not exceeding 30% of the budget allocation for the planned year for that navigation channel.

Payment of Funds

After each acceptance period, the Vietnam Maritime Administration shall settle payments to the Maritime Safety Corporations and the survey consulting and monitoring consulting units and simultaneously recover the advance payment according to the signed contract. At the end of the planned year, based on the Annual Acceptance Report, the Vietnam Maritime Administration shall finalize and recover all advances made within the year for the Maritime Safety Corporations and the survey consulting and monitoring consulting units.

The Maritime Safety Corporations are responsible for making full and prompt advance payments and settlements to the contractors as stipulated in the contracts signed by the Corporations after receiving the funds transferred from the State Treasury to the Corporation’s account.

See also Circular 58/2015/TT-BTC effective from June 15, 2015.

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