Decree 95: Guidelines for Procurement under the CPTPP Agreement

Nguyen Trinh

11:58, 10/07/2024

Decree 95/2020/ND-CP on Guidance for Implementation of Procurement Purchasing under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) was issued by the Government of Vietnam on August 24, 2020.

At Article 12 of Decree 95/2020/ND-CP stipulating about bid security as follows:

- The bidder must implement measures to ensure bid security before the bid closing time. In the case of applying the two-stage bidding method, the bidder implements measures to ensure bid security in the second stage;- Bid security is implemented by one of the following measures:

- Deposit;- Escrow;- Submitting a guarantee letter from a domestic credit institution or a foreign bank branch established under Vietnamese law;- Submitting an insurance guarantee certificate from domestic non-life insurers or foreign life insurer branches established under Vietnamese law.

- Bid security is applied in the cases of open bidding for non-consulting service packages, construction services, procurement of goods, and mixed packages;- ...

See further guidance at Decree 95/2020/ND-CP, effective from August 24, 2020.

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