Vietnam: Application for approval of settlement of finished projects applied from April 10, 2020

According to Article 19 of Circular No. 10/2020/TT-BTC of the Ministry of Finance of Vietnam, agencies presiding settlement appraisal shall produce application for approval of settlement of finished projects and request competent individuals to approve after appraising the settlement. Application for settlement approval consists of:

a) Reports on settlement appraisal results.

b) Draft decisions on approving settlement of finished projects using Form No. 11/QTDA attached to this Circular.

c) In case a task force for settlement appraisal is established, appraisal personnel shall report to the task force about appraisal results; Settlement appraisal task force shall finalize and approve settlement appraisal reports of appraisal personnel to request competent individuals to approve settlement for finished projects.

Reports on settlement appraisal results consist of following basic contents:

- Project overview and issues decided by competent authorities during project investment.

- Summary of content results according to appraisal order under this Circular.

- Proposed settlement approval value.

- Proposition for dealing with drawbacks regarding investment capital sources, property and public debt after conducting project settlement.

Decisions on approval of settlement of finished projects shall be sent to: Project developers, property receiving agencies, superior supervisory agencies of project developers, payment management agencies, crediting agencies, project funding agencies (or agencies authorized to perform payment, grant credit, and fund investment capital for high-density projects), persons authorized to decide on approving project investment, agencies presiding settlement appraisal and sent to Prime Minister, Ministry of Planning and Investment, and Ministry of Finance (for national important projects and other important projects invested under decisions of Prime Minister and class A projects utilizing state capital).

View full text at Circular No. 10/2020/TT-BTC of the Ministry of Finance of Vietnam, effective from April 10, 2020.

Thu Ba

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