Vietnam: Expenditure on supervision consultants of execution of project on dredging of seaport waters under management

According to Article 5 of Circular No. 02/2020/TT-BTC of the Ministry of Finance of Vietnam, after selecting independent consultants to supervise contract execution, investors, supervision consultants and the Vietnam Maritime Administration shall enter into contracts with 3 parties on implementation. The contracts must specify payments made to the supervision consultants by the Vietnam Maritime Administration after the investors transfer money to accounts of the Vietnam Maritime Administration at the State Treasury.

In case the Vietnam Maritime Administration chooses different consultants to assist supervision, the investors shall transfer money to accounts of the Vietnam Maritime Administration at State Treasury to make payment for supervision assistance consultant services.

It should be noted that expenditure on supervision consultants and supervision assistance consultants must depend on expenditure quota issued by specialized competent agencies, ensuring total expenditure on supervision consultants and supervision assistance consultants does not exceed expenditure on construction supervision issued by specialized competent agencies.

Circular No. 02/2020/TT-BTC clearly states that control and payment of expenditure on supervision consultants and supervision assistance consultants shall comply with Circular No. 161/2012/TT-BTC dated October 02, 2012 of Minister of Finance on control and payment of state budget expenditure through State Treasury, Circular No. 39/2016/TT-BTC dated March 01, 2016 of Minister of Finance on amendments to Circular No. 161/2012/TT-BTC.

More details can be found in Circular No. 02/2020/TT-BTC of the Ministry of Finance of Vietnam, which takes effect from February 24, 2020.

Thu Ba

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