Vietnam: Guidelines for the bidding process in procurement under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership

Nguyen Trinh

11:58, 10/07/2024

On August 24, 2020, the Government of Vietnam issued Decree 95/2020/ND-CP providing guidelines on bidding process in procurement under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.

Under Article 12 of Decree 95/2020/ND-CP on bid security in Vietnam:

- The bidder shall furnish bid securities before the bid submission deadline. In the case of applying the two-stage procedure, the bidder shall furnish bid securities in the second stage;

- Bid security is furnished by in one of the following forms:

+ Pay a deposit;

+ Escrow;

+ Submit a letter of guarantee issued by a domestic credit institution or foreign bank branch lawfully established under the law of Vietnam; or

+ Submit a certificate of surety bond insurance issued by a domestic non-life insurer or branch of a foreign non-life insurer duly established under the law of Vietnam.

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

- ...

Details are available in Decree 95/2020/ND-CP effective August 24, 2020.

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