Vietnam: It is required to specify the specific amount of bid security in bidding documents

According to Circular No. 11/2016/TT-BYT of the Ministry of Health of Vietnam, the head of the health facility (or the procuring entity) shall specify the value of bid security in the bidding documents/request for proposals. The bid security value shall equal 1% - 3% of the procurement value (1% - 1.5% for small procurements).

- If the procurement is divided into smaller parts, the bid security value for each part shall equal 1% - 3% of the value of such part (1% - 1.5% for small procurements).

Concurrently, Circular No. 11/2016/TT-BYT also stipulates that a bidder may participate in one, some, or all parts of a procurement. if the bidder participates in more than one part, the bid security value shall be the total value of bid security for each part.

A bidder may choose one of the following bid security methods:

- A letter of guarantee issued by a bank or credit institution lawfully operating in Vietnam;

- Deposit with checks.

Moreover, the procuring entity shall specify the validity period of the bid in the request for proposals/bidding documents which shall not exceed 180 days from the bid closing time.

- Where necessary, the validity period of bids/proposals may be extended as long as the drug supply schedule is met.

- Each bidder shall submit 02 sets of the bid/proposal (01 original and 01 copy) to the procuring entity before the bid closing time.

More details can be found in Circular No. 11/2016/TT-BYT of the Ministry of Health of Vietnam, which takes effect from July 01, 2016.

-Thao Uyen-

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