Vietnam: 04 conditions of the payment task to be paid by the payment order in 2012

According to Article 8 of the Circular No. 177/2011/TT-BTC of the Ministry of Finance of Vietnam, the tasks paid by money order in 2012 according to regulations shall be performed when the following conditions are fully satisfied:

- In the estimate assigned by the competent authority from the beginning of the year or supplemented during the operation.

- Comply with regulations, standards and norms as prescribed.

- Complete all required dossiers and documents.

- There is a written request for expenditure from the head of the budget-using unit, for cases where the budget expenditure management regime requires it.

Upon receipt of the application for issuance, within 5 working days, the Finance agency shall check and consider all payment conditions as prescribed and make budget expenditure orders and send them to the State Treasury to release the budget funds and transfer funds to the accounts of organizations and individuals entitled to the budget according to the contents written on the money payment orders and according to the prescribed regime. In case the conditions for granting payment are not yet satisfied, but in order to ensure the requirements on the nature and progress of the work, the financial agency shall temporarily grant the payment according to the prescribed regime or under the decision of the Minister of Finance (for spending tasks of the central budget) and the President of the People's Committee (for spending tasks of the local budget).

The State Treasury is responsible for checking the validity and legitimacy of money payment orders; based on the content of the money payment order, make a budget disbursement, transfer money to the account or provide cash according to the prescribed regime to pay and pay to organizations and individuals entitled to the budget within the prescribed time limit. In case the documents are invalid or lawful, within 1 day (from the date of receipt of the vouchers), a notice must be sent to the Finance agency for handling.

View more details at the Circular No. 177/2011/TT-BTC of the Ministry of Finance of Vietnam, effective from January 01, 2012.

Le Vy

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