Level of advance capital for projects using public investment capital in Vietnam
On 11/11/2021, the Government of Vietnam promulgated Decree 99/2021/ND-CP regulating management and payment, finalization of projects using public investment capital.
Article table of contents
According to the Decree, the amount of advance capital is regulated as follows:
- For works performed through contracts (including construction contracts and contracts of projects without construction components):
The total advance capital at the request of the investor must not exceed 30% of the contract value (including provisions, if any). In case it is necessary to advance to a higher level, the investment decider's permission must be obtained.
- For work performed without a contract:
The total amount of basic advance requested by the investor must not exceed 30% of the cost estimate for the approved work volume in Vietnam. In case it is necessary to advance to a higher level, the investment decider's permission must be obtained.
Note: The advance capital for the above cases must not exceed the annual public investment plan allocated to the project by the competent authority of Vietnam
For contracts that have been signed and are being performed before January 1, 2022, the content of the advance may continue to be performed according to the contents specified in the contract. Advance procedures completed after January 1, 2022, shall comply with the provisions of Decree 99/2021 of Vietnam
Decree 99/2021/ND-CP of Vietnam takes effect from January 1, 2022.
18 lượt xem
- Key word:
- Level of advance capital in Vietnam
- Vietnam: Propagating and disseminating the Law on Medical Examination and Treatment 2023
- Guidelines for profit distribution with state-owned joint stock companies in Vietnam
- Consolidated financial reporting system of the Vietnam Development Bank
- 02 additional forms of bid documents for online procurement of medicinal herbs in Vietnam
- To coordinate in giving guidelines regarding positions of civil servants and public employees in communication activities
- To propose removing regulations on land price brackets from legislative documents in Vietnam
-
- Vietnam: Propagating and disseminating the Law ...
- 16:38, 22/03/2023
-
.Medium.png)
- Notable new policies of Vietnam effective from ...
- 15:14, 22/03/2023
-
.Medium.png)
- Highlights of the last week's documents (March ...
- 14:59, 22/03/2023
-
- Crime of infringement upon the freedom of religion ...
- 08:37, 22/03/2023
-
- Basis for calculating PIT on incomes from franchising ...
- 08:06, 22/03/2023
.png)
Requirements for participating in the input quality accreditation of officials; Criteria for assessment of the result of professional training in firefighting ...
On February 23, 2023, the Prime Minister of Vietnam promulgated
On February 15, 2023, the Government of Vietnam promulgated Decree No.
-
-
Address: 19 Nguyen Gia Thieu, Vo Thi Sau Ward, District 3, Ho Chi Minh City Phone: (028) 7302 2286 E-mail: info@lawnet.vn
Editorial Director: Mr. Bui Tuong Vu - Tel. 028 3935 2079
P.702A , Centre Point, 106 Nguyen Van Troi, Ward 8, Phu Nhuan District, HCM City;