.jpg "Reading culture in the digital age")
.jpg "What to see in Hai Duong newspaper on April 21?")
-a9f705f0fc2bb442b889e7ca8cfb4e9f.jpg "Prime Minister directs early payment of pensions in May")
.jpg "Parishioners joyfully celebrate Easter at Hai Duong Church")
Submit a comment
The 2023 Bidding Law has many amended and supplemented contents compared to current regulations. Below is a summary of some notable new points of the 2023 Bidding Law, which will take effect from January 1, 2024.
The investor must update the contract performance results on e-GP.
Article 7 of Bidding Law No. 22/2023/QH15 supplements regulations on updating information on investor selection, and also adds information that must be posted when selecting contractors:
Project information, invitation for expression of interest, invitation for pre-qualification, invitation for bid, amendments and clarifications (if any), main information about the contract, and results of the contractor's contract performance.
Currently, many investors have not updated information on contract performance results on the National Bidding Network System (e-GP System).
Clause 2, Article 14 of the Law on Bidding 2023 stipulates that bid security applies in the following cases:
- Open bidding, restricted bidding, competitive bidding for packages of non-consulting services, goods procurement, construction and mixed packages;
- Open bidding, restricted bidding (currently a form of designated bidding) for investor selection.
In particular, the 2023 Law on Bidding provides more detailed regulations on bid security in the bidding documents for contractor selection:
| Object | Law on Bidding 2013 | Law on Bidding 2023 |
| For contractor selection | - From 1% - 3% of the bid package price based on the scale and nature of each specific bid package | Specific regulations on bid security level for contractor selection: - From 1% - 1.5% of the construction and installation package price, mixed package price ≤20 billion VND, package price for procurement of goods, non-consulting services with package price ≤10 billion VND - From 1.5% - 3% of the bid price for other bid packages |
| For investor selection | - From 0.5% - 1.5% of total investment capital of business investment project | |
Shorten the bid security return period to 14 days
Currently, the 2013 Law on Bidding stipulates that the inviting party is responsible for returning or releasing the bid security to the unselected contractor or investor within the time limit specified in the bidding documents and request documents, but no later than 20 days from the date the results of the selection of the contractor or investor are approved.
From January 1, 2024, the deadline for returning or releasing bid security will be shortened to 14 days from the date the results of contractor and investor selection are approved.
Similarly, in case the bidder or investor refuses to extend, the bid will no longer be valid and will be rejected; the bid solicitor must return or release the bid security to the bidder or investor within 14 days from the date the bid solicitor receives the written refusal to extend.
KT (synthesis)