Vietnam: Application for settlement appraisal and approval of finished projects utilizing state capital

According to Circular No. 10/2020/TT-BTC of the Ministry of Finance of Vietnam, project developers shall submit 1 application to competent individuals capable of approving settlement and 1 application to agencies presiding settlement appraisal. In particular, for finished projects, work items and permanently suspended projects with construction and equipment load, the application shall consist of:

- Application for settlement approval of the project developers (original copies). In case of independent auditing bodies, the applications must specify details that the project developers and independent auditing bodies have agreed and disagreed with and reasons for the disagreement. In case agencies conducting inspection (hereinafter referred to as “inspecting bodies”), examination, State auditors and law authorities conduct inspection, audit and/or investigation, the project developers must specify compliance with propositions and conclusions of bodies mentioned above in the applications.

- Forms of final accounts according to Article 6 of this Circular (original copies).

- All relevant legislative documents using Form No. 02/QTDA (original copies or copies of the original copies produced by the project developers).

-  Settlement documents of each contract consist of following documents (original copies or copies of the original copies produced by the project developers): Construction contracts and annexes thereto (if any); records of acceptance inspection for completed items according to payment stages; records of acceptance inspection for completed items of the whole contracts; final contract price spreadsheet (A-B spreadsheet); contract closure records where eligible according to contract laws; other documents as agreed upon in contracts related to details of inspection, examination, approval and settlement of finished projects.

- Records of acceptance of finished projects or independent work items (original copies), written approval for acceptance results (original copies) of competent authorities.

- Audit reports on settlement of finished projects produced by independent auditing bodies in case independent auditing bodies are employed (original copies).

- Audit reports or audit result notice (hereinafter referred to as “audit reports”), inspection conclusions, inspection records and penalty decisions of the State auditing authorities and inspecting authorities in case these authorities carry out inspection and audit of the project; investigation results of law enforcement authorities if project developers commit any violation. Reports of project developers and relevant documents on compliance with remarks of authorities mentioned above.

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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