Regulations on guarantee for implementation of the electricity purchase and sale contract in Vietnam

Regulations on guarantee for implementation of the electricity purchase and sale contract in Vietnam (Internet image)

Article 12 of Decree 137/2013/ND-CP stipulates the guarantee for implementation of the electricity purchase and sale contract in Vietnam as follows:

• The electricity purchaser that is customer using electricity with average consumption electricity yield of 1,000,000 kWh / month or more shall perform guarantee measures for implementation of contract before contract of electricity purchase and sale comes into effect.

• Value to guarantee implementation of contract is agreed by parties, but does not exceed 15-day electricity charge, calculated on the basis of monthly average consumption electricity yield registered in contract of electricity purchase and sale and the applied price of normal-hour electric energy.

• Measures, forms, efficiency of guarantee, rights and obligations related to guarantee shall be agreed specifically in contract of electricity purchase and sale; encourage implementation of guarantee measures via bank.

• The electricity seller has right to stop electricity supply for the electricity purchaser if the electricity purchaser fails to perform guarantee measures for implementation of contract, fails to maintain guarantee measures for implementation of contract.

• Provision on guarantee for implementation of the electricity purchase and sale contract does not apply to contracts of electricity purchase and sale which have taken effect before the effective day of this Decree, except for contracts in which two parties have had agreements on guarantee for implementation of contract.

More details can be found in Decree 137/2013/ND-CP, which comes into force from December 10, 2013.

Ty Na

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