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MINISTRY OF FINANCE OF VIETNAM
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SOCIALIST REPUBLIC OF VIETNAM
Independence – Freedom – Happiness
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No. 50/2022/TT-BTC
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Hanoi, August 11, 2022
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CIRCULAR
GUIDELINES FPR THE IMPLEMENTATION OF
CERTAIN ARTICLES OF DECREE NO. 119/2015/ND-CP DATED NOVEMBER 13, 2015 OF THE GOVERNMENT
OF VIETNAM ON COMPULSORY INSURANCE FOR CONSTRUCTION INVESTMENT ACTIVITIES AND
DECREE NO. 20/2022/ND-CP DATED MARCH 10, 2022 ON AMENDMENTS TO DECREE NO.
119/2015/ND-CP DATED NOVEMBER 13, 2015 OF THE GOVERNMENT OF VIETNAM ON
COMPULSORY INSURANCE FOR OCNSTRUCTION INVESTMENT ACTIVITIES
Pursuant
to the Law on Insurance Business dated December 9, 2000; the Law on Amendments
to the Law on Insurance Business dated November 24, 2010;
Pursuant
to the Law on Amendments to the Law on Insurance Business and the Law on
Intellectual Property dated June 14, 2019;
Pursuant
to the Law on Construction of Vietnam dated June 18, 2014; the Law on
Amendments to the Law on Construction of Vietnam dated June 17, 2020;
Pursuant
to Decree No.87/2017/ND-CP dated July 26, 2017 of the Government of Vietnam on
functions, duties, entitlements and organizational structure of the Ministry of
Finance of Vietnam;
Pursuant
to Decree No. 119/2015/ND-CP dated November 13, 2015 of the Government of
Vietnam on compulsory insurance for construction investment activities;
Pursuant
to Decree No. 20/2022/ND-CP dated March 10, 2022 of the Government of Vietnam
on amendments to Decree No. 119/2015/ND-CP dated November 13, 2015 of the
Government of Vietnam on compulsory insurance for construction investment
activities;
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The
Minister of Finance of Vietnam hereby promulgates the Circular on guidelines on
the implementation of certain Articles of Decree No. 119/2015/ND-CP dated
November 13, 2015 of the Government of Vietnam on compulsory insurance for
construction investment activities and Decree No. 20/2022/ND-CP dated March 10,
2022 on amendments to Decree No. 119/2015/ND-CP dated November 13, 2015 of the
Government of Vietnam on compulsory insurance for construction investment
activities.
Chapter I
GENERAL
PROVISIONS
Article 1. Scope
This
Circular provides for the principles, terms, insurance tariffs, financial
regulations, and regulations on reports regarding compulsory insurance for
construction investment activities, including compulsory insurance for works
during construction time, compulsory insurance for professional liability of
investment and construction consultancy services; compulsory insurance for
workers working on construction sites; compulsory third-party liability
insurance.
Article 2. Regulated entities
This
Circular applies to:
1.
Investors and contractors (in cases where insurance premiums for works have
been included in the contract prices).
2.
Advisory contractors.
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4.
Non-life insurers, branches of foreign non-life insurers (hereinafter referred
to as “insurers”) and reinsurers.
5. Other
agencies, organizations, and individuals related to compulsory insurance for construction
investment activities.
Article 3. Interpretation of terms
For
the purpose of this Circular, the following terms shall be construed as
follows:
1.
"Policyholders” are the following organizations and individuals:
a) Investors
or contractors in cases where insurance premiums for works have been included
in the contract prices (regarding compulsory insurance for works during
construction time).
b)
Advisory contractors (regarding compulsory professional liability insurance for
investment and construction consultancy services).
c)
Construction contractors (regarding compulsory insurance for workers working at
construction sites; third-party liability insurance).
2. "Advisory
contractors” are contractors that provide construction advice and survey
services and contractors that provide advisory services of construction design
of construction works from grade II or higher.
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4. “Deductible”
means the fixed amount or percentage (%) of the amount of insurance
indemnity that the policyholder must bear in each insurance event, specifically
as follows:
a)
Regarding compulsory insurance for works during construction time: the
deductibles prescribed in Point b Clause 1 Section I and Point b Clause 1
Section II of Appendix I promulgated with this Circular.
b)
Regarding compulsory insurance for professional liability for construction and
investment consultancy services: the deductibles prescribed in Point b Clause 1
of Appendix II promulgated with this Circular.
5. “Put
into use” is the process of putting works or categories of construction
works into operation and utilization.
6. “The
insured" are the following organizations and individuals:
a)
Investors, contractors, and other organizations and individuals that have
legitimate rights and benefits related to works during construction time
(regarding compulsory insurance for works during construction time).
b)
Advisory contractors and other organizations and individuals participating in
construction surveys and construction design of advisory contractors (regarding
compulsory insurance for professional liability for construction and investment
consultancy services).
c)
Construction contractors (regarding compulsory insurance for workers working at
construction sites; third-party liability insurance).
7. “Occupational
diseases” are diseases prescribed in Clause 9 Article 3 of the Law on
Occupational Hygiene and Safety.
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9. “Occupational
accidents” are prescribed in Clause 8 Article 3 of the Law on Occupational
Hygiene and Safety.
Article 4. Certificates of compulsory insurance for
construction investment activities (hereinafter referred to as “Insurance
Certificates”)
1.
Insurance Certificates are proofs of the conclusion of contracts of compulsory
insurance for construction investment activities between the policyholders and
insurers.
2.
Insurers shall separately issue Insurance Certificates to policyholders.
Insurance Certificates shall be proactively designed by insurers and include
the following contents:
a) Names
and addresses of insurers, policyholders, and the insured and hotline phone
numbers of insurers.
b) Names
and addresses of construction works.
c)
Insurance payout.
d) The
total value of construction works (if any).
dd)
Numbers of advisory contracts and values of advisory contracts in which values
of construction service advice services and values of construction design
services are separated (regarding compulsory insurance for professional
liability for construction investment activities).
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g)
Insurance duration, insurance premium rates, insurance premiums, and
deductibles (if any).
h)
Issuance date, month, and year of Insurance Certificates.
3. In case
of issuance of E-Insurance Certificates, insurers shall comply with regulations
of the Law on E-Transactions and its guiding documents; E-Insurance
Certificates shall fully comply with current regulations and adequately display
the contents prescribed in Clause 2 of this Article.
Article 5. General insurance liability exclusion
Insurers
shall not indemnify the following losses:
1.
Losses caused by wars, riots, strikes, actions of hostile forces, rebellions,
malicious actions on behalf of or related to organizations of politics,
confiscation, escheat, requisition, or destruction or damage according to
orders of competent authorities.
2.
Losses caused by terrorism actions.
3.
Losses caused by nuclear reaction, nuclear radiation, and radiation contamination.
4.
Losses caused by intentional acts of law violations of policyholders of the
insured (this regulation does not apply to compulsory insurance for workers
working on construction sites in cases where they have to defend themselves,
save lives, save properties, or use stimulants for treatment prescribed by
doctors)
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6.
Losses caused by stopping the construction work or losses caused by
consequences of stopping the construction work (partially or wholly).
7.
Losses of data, software, and computer programs.
Article 6. Termination of insurance policies
1. An
insurance policy is terminated in the following cases:
a) The
policyholder and the insurer have an agreement in the insurance policy on the
termination of the insurance policy in case of suspension of the implementation
of the work prescribed in the construction contract or termination of the
construction contract according to regulations of the law.
The
policyholder shall send a written notification to the insurer within 5 working
days after the investor decides to suspend the implementation of the work
prescribed in the construction contract or terminate the construction contract
according to regulations of the law. The time of termination of the insurance
policy is based on the time of suspension of the work prescribed in the
construction contract or termination of the construction contract according to
regulations of the law.
b) Other
cases of termination according to regulations of the law.
2. Legal
consequences of the termination of the insurance policy
a) If
the insurance policy is terminated according to regulations prescribed in Point
a Clause 1 of this Article, within 15 days after the termination date of such
insurance policy, the insurer shall refund the policyholder the insurance
premium corresponding to the remaining time of the insurance policy after
deducting reasonable costs related to the insurance policy according to
agreements in the insurance policy (if any). In case the policyholder has not
fully paid the insurance premium, the policyholder shall pay an additional
amount of insurance premiums corresponding to the insured period up to the time
of termination of the insurance policy.
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Chapter II
SPECIFIC
PROVISIONS
Section 1. COMPULSORY INSURANCE FOR WORKS DURING
CONSTRUCTION TIME
Article 7. Insurance subjects and the minimum insurance
payout
1.
Insurance subjects of compulsory insurance for works during construction time
are works and categories of works prescribed in Clause 1 Article 4 of Decree
No. 119/2015/ND-CP dated November 13, 2015 of the Government of Vietnam on
compulsory insurance for construction and investment activities and Clause 2
Article 1 of Decree No. 20/2022/ND-CP dated March 10, 2022 of the Government of
Vietnam on amendments to Decree No. 119/2015/ND-CP.
2. The
minimum insurance payout for compulsory insurance for works during construction
time according to regulations prescribed in Clause 1 of this Article is the total
value of works after completion, including all materials, personnel costs,
devices installed in such works, transport fees, tax types, other fees, and
other categories provided by investors or contractors. The minimum insurance
payout for works during construction time shall not be lower than the total
value of construction contracts, even the adjusted or supplemented value (if
any).
Article 8. Insurance scope and exclusion of insurance
responsibility
1.
Insurance scope
Insurers
shall implement insurance responsibilities for losses of works during
construction time that arise from any risk, except for cases of exclusion of
insurance responsibilities prescribed in Clause 2 of this Article.
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Cases of
exclusion of insurance responsibilities for compulsory insurance for works
during construction time:
a)
Exclusion of the general insurance responsibility according to regulations
prescribed in Article 5 of this Circular.
b)
Losses caused by errors in the design of advisory contractors regarding
construction works.
c)
Losses caused by corrosion, abrasion, and oxidation.
d)
Losses caused by the phenomenon of rotting that takes place under conditions of
normal pressure and temperature (this regulation only applies to construction
works prescribed in Point a Clause 1 Article 10 of this Circular).
dd)
Losses cause by the phenomenon of hard scale formation such as rust,
deposition, or other equivalent phenomena (this regulation only applies to
construction works prescribed in Point b Clause 1 Article 10 of this Article).
e) Costs
of repair, replacement, and correction of defects in materials or workmanship
errors. This exclusion only applies to losses of categories that are directly
affected and does not apply to losses of other categories that are indirect
consequences of defects in materials or workmanship errors.
g)
Losses or damage that can only be detected at the time of inventory.
Article 9. Insurance duration
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1.
Regarding construction works prescribed in Point a Clause 1 Article 10 of this
Circular: the insurance duration prescribed in insurance policies, starting
from the start to the end date of construction time, shall be based on
documents of authorities competent to decide on investment (including
adjustment and supplement (if any)). The insurance duration for each division
and category that has been handed over or put into use shall end after such
division and category have been handed over or put into use.
2.
Regarding construction works prescribed in Point b Clause 1 Article 10 of this
Circular: the insurance duration prescribed in insurance policies, from the
start to the end date of construction time, shall be based on documents of
authorities competent to decide on investment (including adjustment and
supplement (if any)) until the handover of the works or after the completion of
the first load testing, whichever comes first, but shall not exceed 28 days
after the date of the test run. The insurance duration for used devices
installed in works shall end at the time of test running such devices.
Article 10. Insurance premiums and payment of insurance
premiums
1.
Premiums of compulsory insurance for works during construction time are
determined as follows:
a)
Regarding insured construction works valued less than 1000 billion VND,
excluding or including the installment but the cost of the installment is lower
than 50% of the total value of categories of the insured construction works:
the insurance premium shall be determined according to Point a Clause 1 Section
I of Appendix I promulgated with this Circular.
b)
Regarding insured construction works valued less than 1000 billion VND,
including the installment and the cost of the installment accounts for at least
50% of the total value of categories of the insured construction works: the
insurance premium shall be determined according to Point a Clause 1 Section II
of Appendix I promulgated with this Circular.
c)
Regarding construction works not stipulated in regulations prescribed in Point
a Clause 1 Section I and Point a Clause 1 Section II of Appendix I promulgated
with this Circular or construction works valued from 1000 billion VND or more,
insurers and policyholders shall agree on the principles, terms, insurance
premiums, and deductibles on the basis of evidence proving the leading
enterprises receive reinsurance and confirm the reinsurance in accordance with
the principles, terms, insurance premiums, and deductibles provided to
policyholders by insurers. Enterprises that receive foreign reinsurance and
organizations that receive foreign reinsurance must be rated at least “BBB”
according to Standard & Poor’s, “B++” according to A.M.Best, or other
equivalent ranks of other organizations with functions and experience in
ranking in the fiscal year closest to the reinsurance year.
2. Based
on the risk level of each of the insured, insurers may increase or decrease
insurance premiums by a maximum of 25% of the insurance premiums prescribed in
Point a Clause 1 Section I of Appendix I promulgated with this Circular
(regarding works prescribed in Point a Clause 1 of this Article) or Point a
Clause 1 Section II of Appendix I promulgated with this Circular (regarding
works prescribed in Point b Clause 1 of this Article).
3. In
case the construction time of works is extended compared to the time prescribed
in documents of authorities competent to decide on the investment when
concluding insurance policies, policyholders and insurers may agree on
additional insurance premiums applicable to the extended time. Additional
insurance premiums (if any) shall be determined according to the insurance
premiums prescribed in Appendix I promulgated with this Circular and the ratio
of extended construction time to the total construction time prescribed in
documents of authorities competent to decide on the investment when concluding
insurance policies and other risk factors.
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Regarding
insurance policies of construction works of projects on construction and
investment prescribed in Decree No. 50/2021/ND-CP dated April 1, 2021 of the
Government of Vietnam on amendments to Decree No. 37/2015/ND-CP dated April 22,
2015 of the Government of Vietnam elaborating on construction contracts,
insurers and policyholders shall agree on the deadline for payment of insurance
premiums prescribed in insurance policies and such deadline shall not be later
than the payment deadline of construction contracts. In any case, the deadline
for payment of insurance premiums shall not exceed the insurance duration.
5. The
final settlement of insurance premiums shall be based on the value of the final
settlement of the construction contract (the part subject to purchase of
compulsory insurance), specifically:
a) If
the value of the final settlement of the construction contract (the part
subject to purchase of compulsory insurance) increases compared to the value of
the estimate approved by competent authorities when concluding the insurance
policy, the insurance premium shall increase correspondingly. The policyholder
shall pay the missing insurance premium to the insurer within 30 days after
receiving documents on approval of the value of the final settlement of the
construction contract issued by competent authorities.
b) If
the value of the final settlement of the construction contract (the part
subject to purchase of compulsory insurance) decreases compared to the value of
the estimate approved by competent authorities, the insurance premium shall decrease
correspondingly. The insurer shall pay the overpaid insurance premium to the
policyholder within 30 days after the date the insurer receives documents on
approval of the value of the final settlement of the construction work issued
by competent authorities from the policyholder. The policyholder shall retrieve
the deducted insurance premium amount from the insurer. If the policyholder is
the contractor in construction and investment activities and the insurance
premium for work has been included in the construction contract price, the
contractor in construction and investment activities shall return the insurance
premium retrieved from the insurer to the investor.
Article 11. Responsibilities of policyholders
Investors
or contractors (in cases where insurance premiums for works have been included
in the contract prices) shall purchase insurance for all of the works or for
each category of works during construction time. Specific cases:
1. In
case of purchasing insurance for all of the works during construction time,
investors or contractors (in cases where insurance premiums for works have been
included in the contract prices) shall purchase insurance with the minimum
insurance payout as prescribed in Clause 2 Article 7 of this Circular.
2. In case
of purchasing by each category of works during construction time, investors or
contractors (in cases where insurance premiums for works have been included in
the contract prices) shall purchase insurance with the insurance payout of each
category of works not lower than the full value of the category of such works
after completion and the total insurance payout of categories of works during
construction time shall not be lower than the minimum insurance payout
prescribed in Clause 2 Article 7 of this Circular.
Article 12. Indemnification principles
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a)
Policyholders shall:
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Immediately notify insurers via means of communication and notify insurers in
writing of such incidents within 14 days from the date of construction works
incidents.
- After
notifying insurers in writing, policyholders may start the repair or
replacement of minor damage valued no more than the corresponding deductible
prescribed in Point b Clause 1 Section I of Appendix I promulgated with this
Circular (regarding works prescribed in Point a Clause 1 Article 10 of this
Circular) or Point b Clause 1 Section II of Appendix I promulgated with this
Circular (regarding works prescribed in Point b Clause 1 Article 10 of this
Circular).
In other
cases, before beginning the repair or replacement of categories suffered from
losses, policyholders shall have their losses assessed by insurers. If insurers
fail to assess losses within 5 working days after receiving notifications on
construction work incidents, except for force majeure or objective
difficulties, policyholders have the right to begin the repair and replacement
of categories suffered from losses. Insurers shall pay the costs of repair and
replacement of categories suffered from losses within their insurance
responsibilities if the policyholders timely begin the repair and replacement
of such categories.
-
Preserve parts suffered from losses and prepare for the assessment of such
parts conducted by representatives or assessors of insurers.
-
Immediately notify public security agencies in case of losses caused by theft.
- Adopt
every measure within their capacity to minimize losses.
-
Provide documents in indemnification documents according to regulations
prescribed in Clauses 1, 2, 3, 4, and 6 of Article 13 of this Circular and
facilitate insurers during the process of verifying such documents.
-
Implement, cooperate, and permit insurers to perform actions and measures that
are necessary or requested by insurers to protect the rights of insurers after
the indemnification of losses subject to indemnification responsibilities
according to regulations of this Circular.
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Conduct loss assessment according to regulations of the law and prepare records
of the assessment of causes and the extent of damage according to regulations
prescribed in Clause 5 Article 13 of this Circular.
- Guide
and cooperate with policyholders and relevant agencies, organizations, and
individuals in sufficiently collecting documents to prepare indemnification
documents.
- In
case of accepting the indemnification, insurers shall prepare written
notifications on the indemnification.
- In
case of refusing the indemnification, insurers shall provide explanations in
writing.
2.
Insurers shall only indemnify for physical losses that policyholders actually
suffer from and when such amounts have been included in the insurance payout.
3. The
indemnification for each category of properties prescribed in insurance
policies shall not exceed the insurance payout of such category of properties.
The total insurance payout shall not exceed the total insurance payout
prescribed in insurance policies. Specific cases:
a)
Losses that can be repaired shall be repaired, and the insurance payout is the
necessary fund to restore categories suffered from losses to their previous
state before losses after deducting the part of value subject to retrieval (in
case policyholders retrieve properties suffered from losses) and deductibles.
b) In
case of a total loss, the insurance payout is the market value of the category
at the time or the place of losses and the actual level of damage minus
deductibles. If policyholders retrieve properties suffered from losses, the
insurance payout is the actual value of such categories at the time or the
place of losses minus deductibles and values of the retrieved properties that
suffered from losses.
4.
Insurers shall cover temporary repair costs if such repair is a part of the
official repair and does not increase the total repair cost according to the
final scheme for the repair of categories suffered from losses.
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6. If
policyholders conclude compulsory insurance policies for works during
construction time with 2 or more insurers to insure the same subject, with the
same conditions and insurance events, when insurance events occur, each insurer
is only responsible for indemnification according to the ratio between the
agreed insurance payout to the total insurance payout of all insurance policies
concluded by policyholders. The total insurance payout of insurers shall not
exceed the damaged value of properties.
7.
Insurers are not responsible for indemnifying the amounts that occurred or
increased due to acts of insurance fraud according to regulations of the
Criminal Code.
Article 13. Indemnification documents
Insurers
shall cooperate with policyholders, the insured, and relevant agencies,
organizations, and individuals in collecting documents related to the
preparation of indemnification documents. Indemnification documents on
compulsory insurance for works during construction time include:
1.
Documents requesting the indemnification of the policyholders.
2.
Documents related to insurance subjects, including Insurance Policies and
Certificates of Insurance.
3.
Documents proving the damage to properties, including:
a) Documents
on construction work incidents (certified copies or copies confirmed by parties
that prepare the documents) according to regulations prescribed in Article 47
of Decree No. 06/2021/ND-CP dated January 26, 2021 of the Government of Vietnam
elaborating on quality management, construction, and maintenance of
construction works.
b) Valid
receipts and invoices in case of repairing or replacing properties.
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5.
Records of the assessment of causes and the extent of damage prepared by
insurers or persons authorized by insurers.
6. Other
relevant documents (if any).
Section 2. COMPULSORY INSURANCE FOR PROFESSIONAL LIABILITY
FOR CONSTRUCTION AND INVESTMENT CONSULTANCY SERVICE
Article 14. Insurance subjects and the minimum insurance
payout
1.
Subjects of compulsory insurance for professional liability for construction
and investment consultancy services are civil liabilities of investment and
construction advisory contractors for third parties generated from the
implementation of construction surveys and construction design of construction
works from grade II or higher.
2. The
minimum insurance payout is equal to the value of the construction survey
consultancy contract and the construction design consultancy contract.
Article 15. Insurance scope and exclusion of insurance
responsibility
1.
Insurance scope
Insurers
shall indemnify advisory contractors for the amounts that such advisory
contractors are responsible for indemnifying for losses of third parties
generated from the implementation of construction consultancy services and
relevant costs according to regulations of the law, except for cases prescribed
in Clause 2 of this Article.
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Cases of
exclusion of insurance responsibilities for compulsory insurance for
professional liability for construction and investment consultancy services:
a)
Exclusion of the general insurance responsibility according to regulations
prescribed in Article 5 of this Circular.
b)
Losses caused by untested measures to construct, calculate, measure, design,
and use materials intentionally selected by advisory contractors.
c) Costs
of redesigning or correcting drawings, plans, and technical manuals or catalogs
of technical manuals.
d)
Losses caused by mold.
dd)
Losses caused by pollution and contamination to the environment and third
parties due to the construction survey consultancy and construction design.
e)
Losses related to asbestos or any material containing asbestos.
g)
Losses caused by violations of intellectual property rights.
Article 16. Insurance duration
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Article 17. Insurance premiums and payment of insurance
premiums
1.
Premiums of compulsory insurance for professional liabilities for construction
design consultancy services and construction survey consultancy services shall
be determined as follows:
a)
Regarding construction works valued less than 1000 billion VND and are not
included in types of construction works such as dikes, dams, ports, harbors,
jetties, docks, breakwaters, and other irrigation works; construction works
such as airports, airplanes, satellites, space; shipbuilding and repair works;
energy construction works on the sea and underwater; projects on trains, trams,
express trains, and underground projects and mines: the insurance premiums and
deductibles prescribed in Clause 1 Appendix II promulgated with this Circular.
b)
Regarding construction works not stipulated in regulations prescribed in Point
a Clause 1 of this Article: Insurers and policyholders shall agree on the
principles, terms, insurance premiums, and deductibles on the basis of evidence
proving the leading enterprises receive reinsurance and confirm the reinsurance
in accordance with the principles, terms, insurance premiums, and deductibles
provided to policyholders by insurers. Enterprises that receive foreign
reinsurance and organizations that receive foreign reinsurance must be rated at
least “BBB” according to Standard & Poor’s, “B++” according to A.M.Best, or
other equivalent ranks of other organizations with functions and experience in
ranking in the fiscal year closest to the reinsurance year.
2. Based
on the risk level of each of the insured, insurers may increase or decrease
insurance premiums by a maximum of 25% of the insurance premiums prescribed in
Point a Clause 1 of Appendix II promulgated with this Circular.
3. In case
the construction time of works is extended compared to the time prescribed in
documents of authorities competent to decide on the investment when concluding
insurance policies, policyholders and insurers shall agree on additional
insurance premiums applicable to the extended time. Additional insurance
premiums shall be determined according to the insurance premiums prescribed in
Point a Clause 1 of Appendix II promulgated with this Circular and
corresponding to the extended implementation time of consultancy work.
4. The
payment of premiums of compulsory insurance for professional liabilities for
construction and investment consultancy services shall follow Circular No.
50/2017/TT-BTC.
5. The
final settlement of insurance premiums shall be based on the value of the final
settlement of the construction survey and construction design consultancy
contract, specifically:
a) If
the value of the final settlement of the construction survey and construction
design consultancy contract increases compared to the value of the estimate
approved by competent authorities when concluding the insurance policy, the
insurance premium shall increase correspondingly. The policyholder shall pay
the missing insurance premium to the insurer within 30 days after receiving
documents on approval of the value of the final settlement of the construction
contract issued by competent authorities.
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Article 18. Responsibilities of policyholders
Advisory
contractors shall purchase compulsory insurance for professional liabilities
for construction and investment consultancy services when providing such
services.
Article 19. Indemnification principles
1.
Insurers shall indemnify advisory contractors for the amounts that such
advisory contractors are responsible for indemnifying for losses of third
parties and relevant costs according to regulations of the law, specifically:
a)
Losses of third parties and related costs generated by negligent actions of the
insured as a result of the implementation of construction surveys and
construction design within the scope of insurance.
b)
Indemnification request of third parties (from an insurance event) regarding
the insured and have been notified to insurers by policyholders within the
insurance duration, including expenses to be paid to lawyers appointed by
insurers or the insured (with the written consent of insurers), other fees and
charges generated from the investigation, correction, and defense related to
insurance events but not including the salary to be paid to workers or managers
concluding labor contracts with the insured.
c) Other
relevant costs according to regulations of the law.
2. The
total liability of insurers for all indemnification requests during the
insurance duration shall not exceed the insurance payout agreed on in insurance
policies.
3. If
policyholders conclude compulsory insurance policies for professional
liabilities for construction and investment consultancy services during
construction time with 2 or more insurers to insure the same subject, with the
same conditions and insurance events, when insurance events occur, each insurer
is only responsible for indemnification according to the ratio between the
agreed insurance payout to the total insurance payout of all insurance policies
concluded by policyholders.
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5. When
there are indemnification requests from third parties, policyholders and
insurers shall cooperate in settling the indemnification as follows:
a)
Policyholders shall:
-
Immediately notify insurers via means of communication and notify insurers in
writing of such matters within 14 days after receiving indemnification requests
from third parties.
- Adopt
every measure within their capacity to minimize losses.
-
Provide documents in indemnification documents according to regulations
prescribed in Clauses 1, 2, 3, 4, 5, and 7 of Article 20 of this Circular and
facilitate insurers during the process of verifying such documents.
-
Implement, cooperate, and permit insurers to perform actions and measures that
are necessary or requested by insurers to protect the rights of insurers after
the indemnification of losses subject to indemnification responsibilities
according to regulations of this Circular.
b)
Insurers shall:
-
Conduct loss assessment according to regulations of the law and prepare records
of the assessment of causes and the extent of damage according to regulations
prescribed in Clause 6 Article 20 of this Circular.
- Guide
and cooperate with policyholders and relevant agencies, organizations, and
individuals in sufficiently collecting documents to prepare indemnification
documents.
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- In
case of accepting the indemnification, insurers shall prepare written notifications
on the indemnification.
- In
case of refusing the indemnification, insurers shall provide explanations in
writing.
Article 20. Indemnification documents
Insurers
shall cooperate with policyholders, the insured, and relevant agencies,
organizations, and individuals in collecting documents related to the
preparation of indemnification documents. Indemnification documents on
compulsory insurance for professional liabilities for construction and
investment consultancy services include:
1. Documents
requesting the indemnification of the policyholders.
2.
Documents related to insurance subjects, including Insurance Policies and
Certificates of Insurance.
3.
Documents requesting the indemnification of third parties regarding the
insured.
4. Documents
proving human damage (copies of medical service facilities or copies confirmed
by insurers after comparison with the original) provided by policyholders.
Based on the extent of human damage, one or more of the following documents may
be included:
a)
Injury certificates.
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c)
Surgery certificates.
d)
Medical records.
dd)
Extracts of death certificates or Death Certificates or order documents
confirmed by public security agencies or examination results of Forensic Examination
Agencies.
e) Valid
and reasonable receipts and invoices on medical costs.
5.
Documents proving the damage to properties, including:
a)
Documents on construction work incidents (certified copies or copies with
confirmation of parties that prepare the documents) according to regulations
prescribed in Article 47 of Decree No. 06/2021/ND-CP.
b) Valid
receipts and invoices in case of repairing or replacing properties.
c)
Documents, receipts, and invoices related to expenses that policyholders have
spent to minimize losses or to implement instructions of insurers.
6.
Records of the assessment of causes and the extent of damage prepared by
insurers agreed upon between insurers, policyholders, and the insured.
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Section 3. COMPULSORY INSURANCE FOR WORKERS
WORKING ON CONSTRUCTION SITES
Article 21. Insurance subjects and the minimum insurance
payout
1.
Subjects of compulsory insurance for workers working on construction sites are
civil liabilities of construction contractors for workers working on
construction sites according to regulations of the law.
2. The
minimum insurance payout in case of compulsory insurance for workers working on
construction sites is 100 million VND/person/case.
Article 22. Insurance scope and exclusion of insurance
responsibility
1.
Insurance scope
Insurers
shall indemnify construction contractors for the amounts that such construction
contractors are responsible for indemnifying for workers who are injured or die
due to occupational accidents or occupational diseases while conducting
construction work on construction sites, except for cases prescribed in Clause
2 of this Article.
2.
Exclusion of insurance responsibilities.
a)
Exclusion of the general insurance responsibility according to regulations
prescribed in Article 5 of this Circular.
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Article 23. Insurance duration
1. The
duration of compulsory insurance for workers working on construction sites will
start from the start date of construction work on construction sites until the
end of the work warranty period according to regulations of the law.
2. The
determination of the insurance duration shall, specifically for workers working
on construction sites, be based on labor contracts and documents confirmed by
construction contractors regarding the actual working time of workers on
construction sites.
Article 24. Insurance premiums and payment of insurance
premiums
1. Premiums
of compulsory insurance for workers working on construction sites are
prescribed in Appendix III promulgated with this Circular.
2. Based
on the risk level of each of the insured, insurers may increase or decrease
insurance premiums by a maximum of 25% of the insurance premiums prescribed in
Appendix III promulgated with this Circular.
3. The
payment of premiums of compulsory insurance for workers working on construction
sites shall follow Circular No. 50/2017/TT-BTC.
4. In
case of changes to the number of workers or the work of workers, follow the
following instructions:
a)
Before the 15th of the month following the month of changes, construction
contractors shall send written notifications to insurers on the mentioned
changes enclosed with the list of workers increased or decreased (in case of
changes to the number of workers) and the list of changes to work of workers
(in case of changes to the work of workers).
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c) In
case the decrease of the number of workers or the change to the work of workers
decreases insured risks, insurers shall pay construction contractors the
decreased insurance premium corresponding to the remaining time of insurance
policies that policyholders have overpaid before the 15th of the month
following the month of notification.
d) If construction
contractors properly perform the obligation to provide notifications as
prescribed in Point a of this Clause and pay the insurance premium according to
Point b of this Clause, insurance policies shall automatically be valid
regarding lists of workers increased or invalidated regarding lists of workers
decreased; insurance policies shall automatically be valid regarding the
changed work of workers as from the date of changes according to written
documents of the insured.
Article 25. Responsibilities of policyholders
Construction
contractors shall purchase compulsory insurance for workers working on
construction sites when workers conduct construction work on construction
sites.
Article 26. Indemnification principles
1. When
occupation accidents or occupation diseases happen to workers working on
construction sites, policyholders and insurers shall cooperate in settling the
indemnification as follows:
a)
Policyholders shall:
-
Immediately notify insurers via means of communication and notify insurers in
writing of such incidents within 14 days after occupational accidents or
occupational diseases happen to workers working on construction sites.
- Adopt
every measure within their capacity to minimize losses.
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-
Implement and permit insurers to perform actions and measures that are
necessary or requested by insurers to protect the rights of insurers after the
indemnification of losses subject to indemnification responsibilities according
to regulations of this Circular.
b)
Insurers shall:
- Guide
and cooperate with policyholders and relevant agencies, organizations, and individuals
in sufficiently collecting documents to prepare indemnification documents;
identify causes and the extent of damage.
- In
case of accepting the indemnification, insurers shall prepare written
notifications on the indemnification.
- In
case of refusing the indemnification, insurers shall provide explanations in
writing.
2. If
workers, who are injured or die because of occupational accidents or
occupational diseases due to the implementation of construction work on
construction sites, are subject to insurance responsibilities, insurers shall
pay the amounts agreed upon between construction contractors and workers or
legal representatives of workers (in case workers have died), including:
a) Leave
allowance during the treatment period as prescribed by the treating doctor
shall be determined based on the salary according to the labor contract and
shall not exceed the salary of 6 months in each insurance event.
b)
Actual medical costs, including emergency costs and inpatient and outpatient
treatment costs that are necessary and reasonable but shall not exceed 100
million VND/person/case.
c) In
case workers suffer from a working capacity decrease of less than 81%, the
specific indemnification for each type of injury and human damage shall be
determined according to the Table of payment rates for compulsory insurance for
workers working on construction sites according to Appendix IV promulgated with
this Circular.
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The
total insurance payout shall not exceed the total insurance payout prescribed
in insurance policies.
3. If
occurred occupational accidents or occupational diseases cause injuries to
workers, and such injuries aggravate the previous injuries or diseases,
insurers are not responsible for indemnifying the aggravating part.
4.
Particularly for the case of indemnification according to regulations prescribed
in Point b Clause 2 of this Article, if policyholders conclude compulsory
insurance policies for workers working on construction sites with 2 or more
insurers to insure the same subject, with the same conditions and insurance
events, when insurance events occur, each insurer is only responsible for
indemnification according to the ratio between the agreed insurance payout to
the total insurance payout of all insurance policies concluded by
policyholders.
Article 27. Indemnification documents
Insurers
shall cooperate with policyholders, the insured, and relevant agencies,
organizations, and individuals in collecting documents related to the
preparation of indemnification documents. Indemnification documents on
compulsory insurance for workers working on construction sites include:
1.
Documents requesting the indemnification of the policyholders.
2.
Documents related to insurance subjects, including:
a)
Insurance Policies, Certificates of Insurance, and Labor Contracts concluded
between the insured and workers suffering from occupational accidents or
occupational diseases.
b)
Documents requesting indemnification for occupational accidents or occupational
diseases of workers (if any).
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a)
Minutes of investigation of occupational accidents prepared by competent
authorities according to regulations of the law (if any). In case workers
suffer from traffic accidents that are identified as occupational accidents,
there must be minutes of traffic accidents or minutes of scene examination and
diagram of traffic accident scene prepared by competent authorities according
to regulations of the law.
b) Based
on the extent of human damage, there may be one or more of the following
documents, Injury Certificates; Hospital Discharge Letters; Certificates of
Surgery; Medical Records; Extracts of death certificates or Death Certificates
or order documents confirmed by public security agencies or examination results
of Forensic Examination Agencies.
c)
Minutes of assessment of working capacity decrease of the Medical Evaluation
Board regarding cases where workers suffer from a working capacity decrease of
at least 5% (if any).
d) Valid
receipts and invoices of medical facilities proving the treatment of injuries
due to occupational accidents of workers.
4.
Documents proving that workers suffer from injuries or die due to occupational
accidents, including:
b)
Minutes of measurement of the environment with hazardous factors during the
stipulated time prepared by competent authorities, and if such minutes are for
the confirmation for many people, the document of each worker shall have an
extract.
b)
Hospital Discharge Letters (in case of not being treated at the hospital, an
occupational medical examination certificate is required) or consultation
sheets for occupational diseases; Medical Records; Extracts of death certificates
or Death Certificates (in case workers die).
c)
Minutes of assessment of working capacity decrease of the Medical Evaluation
Board regarding cases where workers suffer from a working capacity decrease of
at least 5% (if any).
d) Valid
receipts and invoices of medical facilities proving the treatment of injuries
due to occupational diseases of workers.
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6. Other
relevant documents (if any).
Section 4. COMPULSORY THIRD-PARTY LIABILITY
INSURANCE
Article 28. Insurance subjects and the minimum insurance
payout
1.
Subjects of compulsory third-party liability insurance are civil liabilities of
construction contractors for third parties during the construction process
according to regulations of the law.
2. The
minimum insurance payout for compulsory third-party liability insurance shall
comply with regulations prescribed in Clause 7 Article 1 of Decree No.
20/2022/ND-CP.
Article 29. Insurance scope and exclusion of insurance
responsibility
1.
Insurance scope
Insurers
shall indemnify construction contractors amounts that such construction
contractors are responsible for indemnifying third parties regarding damage
outside of insurance policies in terms of health, life, and properties directly
generated during construction and related legal costs (if any) that fall within
the scope of insurance in insurance policies, except for cases prescribed in
Clause 2 of this Article.
2.
Exclusion of insurance responsibilities.
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a)
Exclusion of the general insurance responsibility according to regulations
prescribed in Article 5 of this Circular.
b)
Losses caused by pollution or contamination. This exclusion does not apply to losses
of health, life, and properties generated from pollution or contamination due
to unexpected and unpredictable risks.
c)
Damage to properties on the ground or health or life caused by the displacement
or weakening of the load-bearing and geologic engineering parts.
d)
Damage resulting from accidents caused by motor vehicles or vessels, barges, or
planes that have participated in compulsory insurance of vehicle owners for
third parties.
dd)
Liabilities resulting from injuries or diseases caused to workers of investors
or contractors related to insured works.
e)
Losses or damage to properties owned by or under the management and legal use
of investors, or contractors, or workers of one of the above persons.
g)
Losses related to asbestos or any material containing asbestos.
Article 30. Insurance duration
The
duration of compulsory third-party liability insurance is the specific time
starting from the start to the end date of construction based on construction
contracts and is prescribed in insurance policies.
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1. The
premium of compulsory third-party liability insurance is 5% of the premium of
compulsory insurance for works during the corresponding construction time
prescribed in Point a and Point b Clause 1 Article 10 of this Circular. Based
on the risk level of each of the insured, insurers may increase or decrease
insurance premiums by a maximum of 25% of the insurance premiums.
2. The
deadline for payment of premiums of compulsory third-party liability insurance
shall comply with Circular No. 50/2017/TT-BTC.
Regarding
insurance policies on civil liabilities for third parties of construction works
of projects on construction and investment prescribed in Decree No.
50/2021/ND-CP dated April 1, 2021 of the Government of Vietnam on amendments to
Decree No. 34/2015/ND-CP elaborating on construction contracts, insurers and
policyholders shall agree on the deadline for payment of insurance premiums
prescribed in insurance policies and such deadline shall not be later than the
payment deadline of construction contracts. In any case, the deadline for
payment of insurance premiums shall not exceed the insurance duration.
3. The
final settlement of insurance premiums shall comply with regulations prescribed
in Clause 5 Article 10 of this Circular.
Article 32. Responsibilities of policyholders
Construction
contractors shall purchase compulsory third-party liability insurance when
constructing construction works.
Article 33. Indemnification principles
1. When
third parties suffer from damage outside of insurance policies in terms of
health, life, and properties directly generated from the constructing process
subject to insurance responsibilities, insurers shall pay policyholders
according to the following indemnification rates:
a) The
specific indemnification rate for health and life is determined according to
each type of injury prescribed in the Table of indemnification for damage to
health and life of Appendix V promulgated with this Circular or agreements (if
any) between the insured and persons receiving damage or heirs of persons
receiving damage (in case such persons have died) or representatives of persons
receiving damage (in case such persons have lost their civil capacity according
to decisions of the Court or such persons are less than 6 years old) and shall
not exceed the indemnification rate prescribed in Appendix V promulgated with
this Circular. In case there are decisions of the Court, the indemnification
rate shall be based on such decisions but shall not exceed the rate prescribed
in Appendix V promulgated with this Circular.
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c)
Relevant legal costs (if any).
The
total insurance indemnification amount of insurers prescribed in this Clause
shall not exceed the insurance payout prescribed in Clause 7 Article 1 of
Decree No. 20/2022/ND-CP.
2. When
there are indemnification requests from third parties, policyholders and
insurers shall cooperate in settling the indemnification as follows:
a)
Policyholders shall:
-
Immediately notify insurers via means of communication and notify insurers in
writing of such matters within 14 days after receiving indemnification requests
from third parties.
- Adopt
every measure within their capacity to minimize losses.
-
Provide documents in indemnification documents according to regulations
prescribed in Clauses 1, 2, 3, 4, 5, and 7 of Article 34 of this Circular and
facilitate insurers during the process of verifying such documents.
-
Implement, cooperate, and permit insurers to perform actions and measures that
are necessary or at the request of insurers to protect the rights of insurers
after the indemnification of losses subject to indemnification responsibilities
according to regulations of this Circular.
b)
Insurers shall:
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- Guide and
cooperate with policyholders and relevant agencies, organizations, and
individuals in sufficiently collecting documents to prepare indemnification
documents.
-
Cooperate with policyholders in settling requests for loss indemnification of
third parties subject to insurance responsibilities when insurance events
occur.
- In
case of accepting the indemnification, insurers shall prepare written
notifications on the indemnification.
- In
case of refusing the indemnification, insurers shall provide explanations in
writing.
Article 34. Indemnification documents
Insurers
shall cooperate with policyholders, the insured, and relevant agencies,
organizations, and individuals in collecting documents related to the
preparation of indemnification documents. Indemnification documents on
compulsory third-party liability insurance include:
1.
Documents requesting the indemnification of the policyholders.
2.
Documents related to insurance subjects, including Insurance Policies and
Certificates of Insurance.
3.
Documents requesting the indemnification of third parties regarding the
insured.
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a)
Injury certificates.
b)
Hospital discharge letters.
c)
Surgery certificates.
d)
Medical records.
dd) Extracts
of death certificates or Death Certificates or order documents confirmed by
public security agencies or examination results of Forensic Examination
Agencies.
5.
Documents proving the damage to properties, including:
a)
Documents on construction work incidents (certified copies or copies confirmed
by parties that prepare the documents) according to regulations prescribed in
Article 47 of Decree No. 06/2021/ND-CP (if any).
b) Valid
receipts and invoices in case of repairing or replacing properties.
6.
Records of the assessment of causes and the extent of damage prepared by
insurers or persons authorized by insurers.
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Section 5. FINANCIAL REGULATIONS AND REGULATIONS
ON REPORTS
Article 35. Financial regulations
Insurers
that implement compulsory insurance for construction and investment activities
shall implement financial regulations according to the following instructions:
1.
Financial regulations shall comply with regulations of laws on insurance
business and relevant laws.
2.
Revenue from insurance premiums, insurance commissions, insurance
indemnification, and other expenses related to compulsory insurance for
construction and investment activities shall be recorded separately.
Article 36. Regulations on reports
Insurers
shall prepare and send the Ministry of Finance of Vietnam reports on compulsory
insurance for construction and investment activities according to the following
regulations:
1.
Professional reports: insurers shall prepare and send the Ministry of Finance
of Vietnam quarterly and annual professional reports according to the forms
prescribed in Appendix VI, Appendix VII, and Appendix VIII promulgated with
this Circular, specifically:
a)
Quarterly reports: the time for finalization of data is from the 1st of the
first month of the reporting period to the 30th or 31st of the end month of the
reporting period. Quarterly reports shall be submitted within 30 days from the
end date of a quarter.
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Report
submission methods: submit reports directly or via post services or email
system or the report information system of the Ministry of Finance of Vietnam
(when such system is in operation).
2. Aside
from reports prescribed in Clause 1 of this Article, insurers shall prepare and
submit irregular reports at the request of the Ministry of Finance of Vietnam
in the following cases: reports requested by the National Assembly of Vietnam,
the Standing Committee of the National Assembly of Vietnam, the Government of
Vietnam, and the Prime Minister of Vietnam; reports on the summary and
assessment to develop regulations and policies on reports when there is
information on violations of regulations on compulsory insurance for
construction and investment activities and other irregular reports to satisfy
the requirement for information on irregularly generated problems.
Chapter III
IMPLEMENTATION
PROVISIONS
Article 37. Implementation provisions
1. This
Circular comes into force as of October 1, 2022 and replaces Circular No. 329/2016/TT-BTC.
2.
Compulsory insurance policies for construction and investment activities and
compulsory insurance policies for civil liabilities for third parties concluded
before this Circular comes into force shall continue to comply with regulations
of laws that are effective at the moment of conclusion of such insurance
policies. In case of revisions to insurance policies regulated by this
Circular, this Circular shall apply.
3. If
any legislative document referred to this Circular is amended, supplemented, or
replaced, comply with its new edition.
4.
Difficulties that arise during the implementation of this Circular should be
reported to the Ministry of Finance of Vietnam for consideration and
settlement./.
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PP. MINISTER
DEPUTY MINISTER
Nguyen Duc Chi
APPENDIX I
TARIFF ON INSURANCE PREMIUMS AND THE DEDUCTIBLE OF
COMPULSORY INSURANCE FOR WORKS DURING CONSTRUCTION TIME
(Promulgated with Circular No. 50/2022/TT-BTC dated August 11, 2022 of the
Minister of Finance of Vietnam)
I. REGARDING INSURED CONSTRUCTION, INCLUDING OR EXCLUDING
THE INSTALLATION BUT THE COST OF THE INSTALLATION IS LOWER THAN 50% OF THE
TOTAL VALUE OF CATEGORIES OF THE INSURED CONSTRUCTION WORKS
1.
Regarding insured construction works valued less than 1.000 billion VND
a)
Tariff on insurance premiums (VAT not included):
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Types of construction works
Insurance premium rate (‰ according to the value of
construction works)
Deductible rate (type)
1
CIVIL
WORKS
1.1
Housing
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Apartment
buildings and other collective housing of at least grade III that have:
1.1.1
No
basement
0,8
M
...
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1 to
2 basements
1,2
M
1.1.3
More
than 2 basements
1,5
M
1.2
Public
works
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1.2.1
Works
of education, training, and research of at least grade III that have:
1.2.1.1
No
basement
0,8
M
...
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1 to
2 basements
1,2
M
1.2.1.3
More
than 2 basements
1,5
M
1.2.2
Healthcare
works of at least grade III that have:
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1.2.2.1
Non-health
work
0,8
M
1.2.2.2
1 to
2 basements
1,2
M
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More
than 2 basements
1,5
M
1.2.3
Works
of sports of at least grade III: Stadiums; gymnasiums (sports); pools; sports
arenas with stands
1.2.3.1
Outdoor
sports works
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M
1.2.3.2
Indoor
sports works
1,4
M
1.2.3.3
Other
sports works
1,2
M
...
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Cultural
works of at least grade III, such as conference centers, theatres, cultural
houses, clubs, cinemas, circuses, discotheques; works of relics; museums,
libraries, exhibitions; exhibition houses; outdoor monuments; amusement and
entertainment works; cultural works with a large concentration of people and
other works with equivalent functions that have:
1.2.4.1
No
basement
0.8
M
1.2.4.2
1 to
2 basements
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M
1.2.4.3
More
than 2 basements
1,5
M
1.2.5
Commercial
works such as malls and supermarkets of at least grade III; restaurants, food
and beverage outlets, and similar establishments of at least grade III that
have:
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No
basement
1,1
M
1.2.5.2
1 to
2 basements
1,4
M
1.2.5.3
More
than 2 basements
...
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M
1.2.6
Service
works of at least grade III, such as hotels, guest houses, motels; resorts,
accommodation villas; accommodation apartments, and similar facilities; post
offices and other postal and telecommunications service providers that have:
1.2.6.1
No
basement
1,1
M
...
...
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1 to
2 basements
1,4
M
1.2.6.3
More
than 2 basements
1,7
M
1.2.7
Headquarters
and working offices of at least grade III, such as buildings used as
headquarters or working offices that have:
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1.2.7.1
No
basement
1,1
M
1.2.7.2
1 to
2 basements
1,4
M
...
...
...
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More
than 2 basements
1,7
M
1.2.8
Multi-functional
works or mixed works of at least grade III, such as buildings and other
structures with multi-use or other mixed use
1,5
1.2.8.1
No
basement
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M
1.2.8.2
1 to
2 basements
1,4
M
1.2.8.3
More
than 2 basements
1,7
M
...
...
...
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Other
works serving the people’s livelihood of at least grade II, such as other
buildings and structures built to serve the people’s livelihood that have:
1,5
M
1.2.9.1
No
basement
0,8
M
1.2.9.2
1 to
2 basements
...
...
...
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M
1.2.9.3
More
than 2 basements
1,5
M
2
INDUSTRIAL
WORKS
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Construction
product and material production works of at least grade III
2.1.1
Cement
production facilities; clinker production facilities with a capacity of at
least 100.000 tons of clinker per year; brick, tile, and fibre cement roofing
sheet production facilities with a capacity of at least 100 million standard
bricks or tiles per year or at least 500.000 m2 of fibre cement
roofing sheets per year; facilities producing ceramic tiles of all kinds with
a capacity of at least 500.000 m2 per year; other construction
material production facilities with a capacity of at least 50.000 tons of
products per year; hot-mix asphalt concrete and commercial concrete
production facilities with a capacity of at least 100 tons of products per
day
2,6
M
2.1.2
Construction
material mines of at least grade III
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M
2.1.3
Other
construction material production works of at least grade III
2,4
M
2.2
Metallurgical
and mechanical engineering works of at least grade III
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...
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Metal
rolling and drawing facilities with a capacity of at least 2.000 tons of
products per year
1,9
M
2.2.2
Metallurgical
factories that use scrap materials or have a capacity of at least 1.000 tons
of products per year regarding other projects using other materials
2,1
M
2.2.3
Facilities
that produce and repair containers and trailers with a production capacity of
at least 500 containers and trailers per year or a capacity of repairing at
least 2.500 containers and trailers per year
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M
2.2.4
Facilities
that build, repair, and assemble locomotives and railcars; facilities that
build, repair, and assemble motorcycles and motor vehicles with a capacity of
at least 5.000 motorcycles per year or at least 500 motor vehicles per year
1,9
M
2.2.5
Facilities
that build and repair ships for ships with tonnage of at least 1.000 DWT
2,1
N
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Facilities
that produce machinery, devices, and tools with a capacity of at least 1.000
tons of products per year
1,9
M
2.2.7
Metal
plating, spraying, and polishing facilities with a capacity of at least 500
tons of products per year
1,9
M
2.2.8
Shaped
steel and aluminum production facilities with a capacity of at least 2.000
tons of products per year
...
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N
2.2.9
Metallurgical
and mechanical engineering factories of at least grade III
2,3
N
2.3
Mining
works and mineral processing works of at least grade III
...
...
...
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Solid
mineral mining works (without the use of hazardous chemicals and industrial
explosive substances) with a mine volume (minerals, rocks, waste) of at least
50.000 m3 of raw materials per year or a total mine volume
(minerals, rocks, waste) of at least 1.000.000 m3 of monoliths
2,3
N
2.3.2
Sand
and gravel mining works with a scale of at least 50.000 m3 of raw
materials per year; leveling material mining works with a scale of at least
100.000 m3 of raw materials per year
2,3
N
2.3.3
Solid
mineral processing without the use of hazardous chemicals with a capacity of
at least 50.000 m3 of products per year or a total amount of
discharged soils and rocks of at least 500.000 m3 per year
...
...
...
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N
2.3.4
Water
extraction works for the supply to production, business, services, and daily
life activities with an extraction capacity of at least 3.000 m3/day
and night for underground water or an extraction capacity of at least 50.000
m3/day and night for surface water
2,5
N
2.3.5
Natural
mineral water or natural hot water extraction works (underground or on the
surface) with an extraction capacity of at least 200 m3/day and
night for water used for bottling or an extraction capacity of at least 500 m3/day
and night for water for other purposes
2,5
N
...
...
...
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Other
mining works and mineral processing works of at least grade III
4,0
N
2.4
Petroleum
works of at least grade III
2.4.1
Oil
refinery and gas processing factories of at least grade III; factories of the
petrochemical refinery (excluding projects on LPG extraction and filling and
lubrication blending) and petrochemical product, drilling fluid, and
petroleum chemical product production with a capacity of at least 500 tons of
products per year; oil and gas pipelines with a length of at least 20 km;
construction of oil and gas pipelines and transshipment zones
...
...
...
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M
2.4.2
Petroleum
depots and petroleum stores with a storage capacity of at least 200 m3
3,0
M
2.5
Energy
works of at least grade III
...
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Thermal
power plants of at least grade III
3,0
N
2.5.2
Wind
power plants (wind farms) of at least grade III or with an area of at least
100 ha
3,0
N
2.5.3
Photovoltaic
power plants (solar farms) of at least grade III or with an area of at least
100 ha
...
...
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N
2.5.4
Hydropower
plants of at least grade III or with a reservoir capacity of at least 100.000
m3 of water or a capacity of at least 10 MW
7,5
M
2.5.5
Power
transmission lines of at least 110kV; power stations with a capacity of 500
kV
2,5
M
...
...
...
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Factories
that produce and process electronic equipment and electronic and electrical
components with a capacity of at least 500.000 products per year; electrical
equipment with a capacity of at least 500 tons of products per year
1,5
M
2.5.7
Other
energy works of at least grade III
2,0
M
2.6
Chemical
works of at least grade III
...
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2 6.1
Fertilizer
and plant protection drug production works
2.6.1.1
Chemical
fertilizer production factories with a capacity of at least 1.000 tons of
products per year
1,5
M
...
...
...
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Plant
protection drug depots of at least 500 tons and fertilizer depots of at least
5.000 tons
1,5
M
2.6.1.3
Plant
protection drug production facilities
1,2
N
2.6.1.4
Facilities
for bottling and packaging plant protection drugs with a capacity of at least
300 tons of products per year
...
...
...
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N
2.6.1.5
Organic
fertilizer and biofertilizer production facilities with a capacity of at
least 10.000 tons of products per year
1,2
N
2.6.2
Works
of chemicals, pharmaceuticals, cosmetics, and plastics
...
...
...
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Pharmaceutical
production facilities; facilities producing veterinary drugs and medicinal
ingredients (including pharmaceutical chemical and excipient ingredients)
with a capacity of at least 50 tons of products per year
2,0
N
2.6.2.2
Cosmetic
chemical production facilities with a capacity of at least 50 tons of
products per year
2,0
N
2.6.2.3
Facilities
producing chemicals, plastics, plastic products, and paints with a capacity
of at least 100 tons of products per year
...
...
...
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N
2.6.2.4
Plastic
product and plastic bead production facilities with a capacity of at least
1.000 tons of products per year
2,0
N
2.6.2.5
Detergent
and additive production facilities with a capacity of at least 1.000 tons of
products per year
2,0
N
...
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...
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Propellant,
explosive, and fire tool production facilities
3,0
N
2.6.2.7
Industrial
explosive production facilities; fixed explosive depots of at least 5 tons;
chemical depots of at least 500 tons
3,0
N
2.6.2.8
Areas
producing salt from sea water with an area of at least 100 ha
...
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N
2.6.3
Other
chemical works of at least grade III
2,0
N
2.7
Light
industrial works of at least grade III
...
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...
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Food
production and processing works
2.7.1.1
Food
preliminary processing and processing works with a capacity of at least 500
tons of products per year
1,8
M
2.7.1.2
Concentrated cattle and poultry slaughtering facilities
with a capacity of at least 200 cattle per day; at least 3.000 poultry per
day
...
...
...
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M
2.7.1.3
Fishery,
fish powder, and fishery by-product processing facilities with a capacity of
at least 100 tons of products per year
1,8
M
2.7.1.4
Sugar
production facilities with a capacity of at least 10.000 tons of sugar per
year
1,8
M
...
...
...
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Alcohol
production facilities with a capacity of at least 500.000 liters of products
per year
1,8
M
2.7.1.6
Beer
and beverage production facilities with a capacity of at least 10.000.000
liters of products per year
1,8
M
2.7.1.7
MSG
production facilities with a capacity of at least 5.000 tons of products per
year
...
...
...
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M
2.7.1.8
Milk
production and processing facilities with a capacity of at least 10.000 tons
of products per year
1,8
M
2.7.1.9
Cooking
oil production and processing facilities with a capacity of at least 10.000
tons of products per year
1,8
M
...
...
...
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Confectionery
production facilities with a capacity of at least 5.000 tons of products per
year
1,8
M
2.7.1.11
Filtered
water and bottled purified water production facilities with a capacity of at
least 2.000 m3 of water per year
1,8
M
2.7.2
Agricultural
product processing works
...
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...
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2.7.2.1
Cigarette
production facilities and cigarette ingredient processing facilities with a
capacity of at least 100.000.000 cigarettes per year or a capacity of 1.000
tons of cigarette ingredients per year
1,5
M
2.7.2.2
Facilities
that produce and process agricultural products and starch of all kinds with a
capacity of at least 10.000 tons of products per year regarding dry
processing and production technology or a capacity of at least 1.000 tons of
products per year regarding wet processing and production technology
1,5
M
...
...
...
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Tea
plant, cashew nut, cocoa, coffee, and pepper processing facilities with a
capacity of at least 5.000 tons of products per year regarding the dry
processing technology or a capacity of 1.000 tons of products per year
regarding the wet processing technology
1,5
M
2.7.3
Wood
processing and glass, ceramic, and porcelain production works
2.7.3.1
Facilities
processing wood and wood chips from natural wood with a capacity of at least
3.000 m3 of products per year
...
...
...
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M
2.7.3.2
Plywood
production facilities with a capacity of at least 100.000 m2 per
year
2,0
M
2.7.3.3
Wood
product production facilities with a total area of warehouses, yards, and
workshops of at least 10.000 m3
2,0
M
...
...
...
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Light
bulb and thermos production facilities with a capacity of at least 1.000.000
products per year
1,5
M
2.7.3.5
Ceramic
and glass product production facilities with a capacity of at least 1.000
tons of products per year or 10.000 products per year
1,2
M
2.7.4
Paper
and stationery production works
...
...
...
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2.7.4.1
Facilities
producing papers and paper powder from raw materials with a capacity of at
least 300 tons of products per year
2,0
M
2.7.4.2
Facilities
producing papers and cardboard packaging from paper powder or scraps with a
capacity of at least 5.000 tons of products per year
2,0
M
...
...
...
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Stationery
production facilities with a capacity of at least 1.000 tons of products per
year
2,0
M
2.7.5
Textile
dyeing and garment works
2.7.5.1
Dyeing
and textile dyeing facilities
...
...
...
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M
2.7.5.2
Non-dyeing
textile facilities with a capacity of at least 10.000.000 m2 of
fabric per year
1,2
M
2.7.5.3
Textile
and garment product production and processing facilities with a capacity of
at least 50.000 products per year if there is a washing and bleaching process
or a capacity of at least 2.000.000 products per year if the mentioned
process is not included
1,2
M
...
...
...
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Industrial
laundry facilities with a capacity of at least 50.000 products per year
1,2
M
2.7.5.5
Silk
yarn, cotton yarn, and man-made fiber production facilities with a capacity
of at least 1.000 tons of products per year
1,2
M
2.7.6
Livestock
and livestock feed processing facilities
...
...
...
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2.7.6.1
Livestock
feed processing facilities with a capacity of at least 1.000 tons of products
per year
1,0
M
2.7.6.2
Aquaculture
facilities with a water surface area of at least 10 ha, and particularly at
least 50 ha for extensive farming projects
4,0
M
...
...
...
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Cattle
and poultry husbandry facilities with a barn scale of at least 1.000 m2;
concentrated wild animal husbandry and care facilities with a barn scale of
at least 500 m2
1,0
M
2.7.7
Other
light industrial works
2.7.7.1
Rubber
and latex processing facilities with a capacity of at least 1.000 tons of
products per year
...
...
...
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M
2.7.7.2
Facilities
producing products of medical equipment from medical plastic and rubber with
a capacity of at least 100.000 products per year
1,5
M
2.7.7.3
Footwear
production facilities with a capacity of at least 1.000.000 pairs per year
1,5
M
...
...
...
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Facilities producing rubber inner tubes and tires of all
kinds (in particular, facilities producing rubber inner tubes and tires for
motor vehicles and tractors with a capacity of at least 50.000 products per
year and facilities producing rubber inner tubes and tires for bicycles and
motorcycles with a capacity of 100.000 products per year)
1,8
M
2.7.7.5
Projects
on constructing facilities producing printing ink and other materials in the
printing industry with a capacity of at least 500 tons of printing ink and
1.000 products per year regarding other printing materials
1,8
M
2.7.7.6
Battery
production facilities with a capacity of at least 50.000 kWh per year or at
least 100 tons of products per year
...
...
...
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M
2.7.7.7
Tanneries
1,8
M
2.7.7.8
Facilities
producing liquefied CO2 for extraction and filling and industrial
gas with a capacity of at least 3.000 products per year
2,5
M
...
...
...
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Facilities
dismantling old ships and cleaning and rinsing ships
3,0
M
3
TECHNICAL
INFRASTRUCTURE WORKS
3.1
Water
supply works of at least grade II
...
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3.1.1
Water
factories and clean water processing works
3,0
N
3.1.2
Raw and
clean water pumping stations and water pump booster stations (including
pumping stations and storage tanks if pumping stations are placed on the
storage tanks)
2,0
N
...
...
...
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Drainage
works of at least grade II
3.2.1
Balancing
lakes
5,0
N
3.2.2
Rainwater
pumping stations (including pumping stations and storage tanks if pumping
stations are placed on the storage tanks)
...
...
...
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N
3.2.3
Wastewater
treatment works
3,0
N
3.2.4
Wastewater
pumping stations (including pumping stations and storage tanks if pumping
stations are placed on the storage tanks)
3,0
N
...
...
...
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Sludge
treatment works
4,0
N
3.2.6
New
construction or renovation of urban drainage systems and drainage systems of
residential areas with a length of at least 10 km
2,5
N
3.3
Solid
waste treatment works of at least grade II
...
...
...
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3.3.1
Ordinary
solid waste treatment facilities
2,5
N
3.3.2
Hazardous
solid waste recycling and treatment facilities with a capacity of at least 10
tons per day
2,5
N
...
...
...
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Passive
telecommunications infrastructure works of at least grade III, such as
telecommunications houses and stations, antenna poles, and cable poles
2,5
N
3.5
Funeral
parlors and cremation facilities of at least grade II
1,0
N
3.6
Parking
lots (underground or above-ground) and technical sewers, tanks, trenches, and
tunnels of at least grade II
...
...
...
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3.6.1
Underground
parking lots
4,5
N
3.6.2
Above-ground
parking lots
1,2
N
...
...
...
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Technical
sewers, tanks, trenches, and tunnels
1,5
N
4
TRAFFIC
WORKS
4.1
Road
...
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...
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4.1.1
Expressways
at all levels
4,0
N
4.1.2
Motorways
and urban roads of at least grade III
2,5
N
...
...
...
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Ferry
terminals of at least grade III
5,0
N
4.1.4
Bus
stations; road vehicle registration facilities; toll booths; rest stops of at
least grade III
2,0
N
4.2
Railway
...
...
...
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4.2.1
Railways
at all levels such as high-speed railways, urban railways (overhead
railways); national railways; specialized railways, and local railways
4,0
N
4.2.2
Passenger
railway stations of at least grade III
2,0
N
...
...
...
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Bridges
of at least grade III
4.3.1
Road
bridges
6,0 (regarding each grade increased, plus 0,1 ‰ of
insurance premiums)
N
4.3.2
Footbridges
...
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...
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N
4.3.3
Railway
bridges
6,0 (regarding each grade increased, plus 0,1 ‰ of
insurance premiums)
N
4.3.4
Pontoon
bridges
6,0 (regarding each grade increased, plus 0,1 ‰ of
insurance premiums)
N
...
...
...
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Tunnel
4.4.1
Tunnels
of at least grade III, such as motorway tunnels, railway tunnels, and
pedestrian tunnels
11,0
N
4.4.2
Metro
systems at all levels
...
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...
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N
4.5
Inland
waterway works of at least grade II
4.5.1
Inland
waterway ports and wharves (for passengers)
7,0
N
...
...
...
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Waterways
with B width and H depth of draft (including buoys and river engineering
works)
8,0
N
4.6
Maritime
works
4.6.1
Sea
wharves/ports and ferry terminals (for passengers) of at least grade III
...
...
...
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N
4.6.2
Other
maritime works of at least grade II
10,0
N
4.7
Aviation
works
...
...
...
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Airport
terminals; airfields (including works that ensure flight operations)
3,0
N
4.8
Cable
car lines and stations for:
4.8.1
Transferring
people
...
...
...
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N
4.8.2
Transferring
goods of at least grade II
4,0
N
5
AGRICULTURE
AND RURAL DEVELOPMENT WORKS
5.1
...
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5 1.1
Water
supply works of at least grade II
5,0
N
5.1.2
Reservoirs
of at least grade III
8,0
...
...
...
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5.1.3
Dams
and other pressure-resistant irrigation works of at least grade III
10,0
N
5.2
Dyke
works
10,0
N
Note:
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b)
Deductible rates
Insurance
deductible rates for works during construction time shall be applicable
according to the following table or shall be equal to 5% of the value of the
loss, whichever is greater:
Unit: million VND
Insurance value
Deductible rate type M
Deductible rate type N
Regarding risks of natural disasters
Regarding other risks
Regarding risks of natural disasters
...
...
...
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Up to
10.000
100
20
150
40
20.000
150
...
...
...
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200
40
100.000
200
60
300
80
...
...
...
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300
80
500
150
700.000
500
100
700
...
...
...
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2. Regarding
insured works valued from at least 1.000 billion VND or works not mentioned in
Point 1 Clause I of this Appendix
Insurers
and policyholders shall agree on the principles, terms, insurance premiums, and
deductibles on the basis of evidence proving the leading enterprises receive
reinsurance and confirm the reinsurance in accordance with the principles,
terms, insurance premiums, and deductibles provided to policyholders by
insurers. Enterprises that receive foreign reinsurance and organizations that
receive foreign reinsurance must be rated at least “BBB” according to Standard
& Poor’s, “B++” according to A.M.Best, or other equivalent ranks of other
organizations with functions and experience in ranking in the fiscal year
closest to the reinsurance year.
II.
REGARDING INSURED CONSTRUCTION WORKS INCLUDING THE INSTALLATION AND THE COST OF
THE INSTALLATION ACCOUNTING FOR AT LEAST 50% OF THE TOTAL VALUE OF CATEGORIES
OF THE INSURED CONSTRUCTION WORKS
1.
Regarding construction works valued less than 1.000 billion VND
a)
Tariff on insurance premiums (VAT not included):
Code
Categories of works and types of equipment installed in
such works
Insurance premium rates (‰ according to the categories of
works and types of equipment installed in such works)
Deductible rate (type)
...
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CIVIL
WORKS
-
Housing: Apartment buildings and other collective housing of at least grade
III;
-
Public works:
+
Works of education, training, and research of at least grade III;
+
Healthcare works of at least grade III;
+
Works of sports: Stadiums; gymnasiums (sports); pools; sports arenas with
stands of at least grade III;
...
...
...
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+
Commercial works: Malls and supermarkets of at least grade III; restaurants,
food and beverage outlets, and similar establishments of at least grade III;
+
Service works: Hotels, guest houses, motels; resorts, accommodation villas;
accommodation apartments, and similar facilities; post offices and other
postal and telecommunications service providers of at least grade III;
+
Headquarters and working offices: Buildings used as headquarters or working
offices of at least grade III;
+
Multi-functional works or mixed works: Buildings and other structures with
multi-use or other mixed use of at least grade III;
+
Other works serving the people’s livelihood: Other buildings and structures
built to serve the people’s livelihood of at least grade II
1.1
Installation
in general
...
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M
1.2
Heating
equipment
1,7
M
1.3
Air
conditioning equipment
2,0
M
...
...
...
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Lifts
and escalators
1,9
M
1.5
Kitchen
equipment
2,3
M
1.6
Medical
equipment
...
...
...
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M
1.7
Disinfection
equipment
2,0
M
1.8
Cooling
equipment
1,7
M
...
...
...
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Lighting
equipment
1,7
M
1.10
Cinemas,
TV studios, and film studios
1,9
M
1.11
Cable
cars
...
...
...
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N
2
INDUSTRIAL
WORKS
2.1
Construction
product and material production works of at least grade III
...
...
...
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The
construction material industry in general
2,3
N
2.1.2
Cement
factories
2,6
N
2.1.3
Concrete
factories
...
...
...
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N
2.1.4
Brick
factories
2,6
N
2.1.5
Clinker
factories
2,4
N
...
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...
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Tile
and fibre cement roofing sheet factories
3,0
N
2.1.7
Ceramic
tile factories
2,7
N
2.2
Metallurgical
and mechanical engineering works of at least grade III
...
...
...
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2.2.1
Metal
and steel
2.2.1.1
Metallurgical
factories
3,2
N
...
...
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Cast
iron factories (producing pig iron)
3,4
N
2.2.1.3
Steel
bar stock production factories
3,4
N
2.2.1.4
Steel
rolling factories in general
...
...
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N
2.2.1.5
Steel
rolling factories - hot rolling
3,2
N
2.2.1.6
Steel
rolling factories - cold rolling (thin steel sheets)
3,2
N
...
...
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Casting
workshops
2,9
N
2.2.2
Metal
not containing iron
2.2.2.1
Metallurgical
factories in general
...
...
...
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N
2.2.2.2
Aluminum
smelting factories
3,2
N
2.2.2.3
Rolling
factories in general
3,1
N
...
...
...
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Hot
rolling factories
3,1
N
2.2.2.5
Cold
rolling factories
2,9
N
2.2.2.6
Casting
workshops
...
...
...
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N
2.2.3
Other
metal production industry
3,4
N
2.3
Mining
works and mineral processing works of at least grade III
...
...
...
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Open-pit
mine mining equipment
3,5
N
2.3.2
Open-pit
coal mining equipment
3,2
N
2.3.3
Open-pit
ore mining equipment
...
...
...
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N
2.3.4
Heavy-duty
dredging equipment in open-pit mine mining
2,8
N
2.3.5
Metal
ore processing equipment
3,0
N
...
...
...
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Other
equipment
3,2
N
2.4
Petroleum
works of at least grade III
2.4.1
Oil
refinery and gas processing factories; factories of the petrochemical
refinery (excluding projects on LPG extraction and filling and lubrication
blending) and petrochemical product, drilling fluid, and petroleum chemical
product production; oil and gas pipelines; oil and gas transshipment zones
...
...
...
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N
2.4.2
Petroleum
depots and petroleum stores
2,3
N
2.5
Energy
works of at least grade III
...
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Thermal
power plants - coal, oil, and lignite (steam temperature up to 540°C) with:
2.5.1.1
Up
to 10 MW per machine
4,1
N
2.5.1.2
Up
to 50 MW per machine
...
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N
2.5.1.3
Up
to 150 MW per machine
4,4
N
2.5.1.4
Up
to 300 MW per machine
5,0
N
...
...
...
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Steam
turbines (steam temperature up to 540°C) with:
2.5.2.1
Up
to 50 MW
3,7
N
2.5.2.2
Up
to 150 MW
...
...
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N
2.5.23
Up
to 300 MW
6,0
N
2.5.3
Generators
in thermal power plants with:
...
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Up
to 180 MVA
4,1
N
2.5.3.2
Up
to 400 MVA
5,0
N
2.5.4
Boilers,
including usual accessories
...
...
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N
2.5.5
Tube
boilers (steam temperature up to 540°C) with:
2.5.5.1
Up
to 50 tons per hour
2,4
N
...
...
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Up
to 200 tons per hour
2,6
N
2.5.5.3
Up
to 1.000 tons per hour
2,9
N
2.5.6
Other
types of boilers with:
...
...
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2.5.6.1
Up
to 75 tons per hour
3,1
N
2.5.6.2
Up
to 150 tons per hour
3,9
N
...
...
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Boilers
supplying heat
2,4
N
2.5.8
Steam
pipes
2,2
M
2.5.9
Diesel
power plants with:
...
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2.5.9.1
Up
to 5.000 kW per machine
3,6
M
2.5.9.2
Up
to 10.000 kW per machine
3,8
N
...
...
...
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Generators
in diesel power plants with up to 12 MVA
3,8
N
2.5.11
Engines
in diesel power plants with up to 5.000 kW
2.5.11.1
-
Installation
...
...
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N
2.5.11.2
-
Dismantling
3,9
N
2.5.12
Power
distribution stations with:
...
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Up
to 100 kV
2,6
N
2.5.12.2
More
than 100 kV
3,0
N
2.5.13
Transformers
with:
...
...
...
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2.5.13.1
Up
to 10 MVA
3,1
N
2.5.13.2
Up
to 50 MVA
3,5
N
...
...
...
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Up
to 100 MVA
4,0
N
2.5.13.4
Up
to 250 MVA
4,4
N
2.5.13.5
Up
to 400 MVA
...
...
...
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N
2.5.14
Power
plants using industrial gas turbines with:
2.5.14.1
Up
to 40 MW per machine
4,9
N
...
...
...
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Up
to 60 MW per machine
5,3
N
2.5.15
Power
grid renovation and construction
3,2
N
2.5.16
Production
and processing of electronic equipment and electronic and electrical
components; electrical equipment
...
...
...
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N
2.5.17
Wind
power plants, hydroelectric plants, and photovoltaic plants
4,5
N
2.6
Chemical
works of at least grade III
...
...
...
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Fertilizer
and plant protection drug production works
2.6.1.1
Ordinary
fertilizer production factories
2,5
N
2.6.1.2
Plant
protection drug production factories
...
...
...
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N
2.6.2
Works
of chemicals, pharmaceuticals, cosmetics, and plastics
2.6.2.1
Plastic
item processing factories
2,7
N
...
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...
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Cosmetic
chemical pharmaceutical production factories
2,5
N
2.6.2.3
Paint
production factories
2,5
N
2.6.2.4
Veterinary
drug production factories
...
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...
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N
2.6.2.5
Plastic
product and plastic bead production factories
2,7
N
2.6.2.6
Detergent
and additive production factories
2,5
N
...
...
...
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Propellant,
explosive, and fire tool production factories
4,5
N
2.6.2.8
Industrial
explosive production factories: explosive depots and chemical depots
4,5
N
2.6.2.9
Facilities
producing salt from sea water
...
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N
2.6.3
Other
chemical industry
2,7
N
2.7
Light
industry works of at least grade III
...
...
...
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Food
production and processing works
2.7.1.1
Food
production and processing factories
1,7
M
2.7.1.2
Cattle
and poultry slaughtering factories
...
...
...
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M
2.7.1.3
Fishery,
fish powder, and fishery by-product processing factories
1,9
M
2.7.1.4
Sugar
production factories
2,9
M
...
...
...
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Alcohol
production factories
1,9
M
2.7.1.6
Beer
production factories
1,8
M
2.7.1.7
Beverage
production factories
...
...
...
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M
2.7.1.8
MSG
production factories
1,8
M
2.7.1.9
Milk
production and processing factories
1,7
M
...
...
...
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Cooking
oil production equipment
1,8
M
2.7.1.11
Confectionery
production factories
1,8
M
2.7.1.12
Filtered
water and bottled purified water production factories
...
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...
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M
2.7.1.13
Other
food industry and cattle feed processing industry
1,8
M
2.7.2
Agricultural
product processing works
...
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...
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Cigarette
production and cigarette ingredient processing factories
2,2
M
2.7.2.2
Agricultural
product and starch production and processing factories
1,8
M
2.7.2.3
Tea
plant, cashew nut, cocoa, coffee, and pepper processing factories
...
...
...
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M
2.7.3
Wood
processing and glass, ceramic, and porcelain production works
2.7.3.1
Wood
processing industry in general
3,2
M
...
...
...
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Laminated
wood production factories
3,2
M
2.7.3.3
Plywood
production factories
3,2
M
2.7.3.4
Household
goods production factories
...
...
...
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M
2.7.3.5
Sawmills
3,1
M
2.7.3.6
Light
bulb and thermos production factories
3,2
M
...
...
...
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Ceramic
and porcelain production factories
3,6
N
2.7.3.8
Glass
production factories
3,2
M
2.7.4
Paper
and stationery production works
...
...
...
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2.7.4.1
Paper
and packaging industry in general
3.8
N
2.7.4.2
Factories
producing papers and paper powder from raw materials
3,8
N
...
...
...
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Equipment
for producing papers and paper powder from raw materials
3,4
N
2.7.4.4
Paper
and packaging production factories
3,8
N
2.7.4.5
Paper
and packaging processing factories
...
...
...
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N
2.7.4.6
Stationery
production factories
3,8
N
2.7.5
Textile
dyeing and garment works
...
...
...
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Textiles
in general
2,3
M
2.7.5.2
Silk
yarn, cotton yarn, and man-made fiber production factories
2,0
M
2.7.5.3
Non-dyeing
textile factories
...
...
...
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M
2.7.5.4
Industrial
laundry equipment
2,1
M
2.7.5.5
Dyeing and bleaching equipment
2,2
M
...
...
...
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Drying
equipment
2,3
M
2.7.5.7
Textile
dyeing factories
2,3
M
2.7.5.8
Textile
and garment product production and processing factories
...
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M
2.7.6
Livestock
and livestock feed processing facilities
2.7.6.1
Livestock
feed processing industry in general
1,8
M
...
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...
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Livestock
feed processing factories
1,7
M
2.7.6.3
Cattle
husbandry facilities
2,0
M
2.7.6.4
Poultry
husbandry facilities
...
...
...
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M
2.7.6.5
Wild
animal husbandry and care facilities
2,3
M
2.7.6.6
Aquaculture
facilities
2,7
M
...
...
...
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Extensive
farming facilities
2,6
M
2.7.7
Other
light industrial works
2.7.7.1
Rubber
and latex processing factories and rubber inner tube and tire production
factories
...
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...
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N
2.7.7.2
Factories
producing products of medical equipment from medical plastic and rubber
3,0
N
2.7.7.3
Footwear
production factories
3,0
N
...
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Facilities
producing printing ink and other materials in the printing industry
2,2
M
2.7.7.5
Battery
production factories
3,0
N
2.7.7.6
Tanneries
...
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M
2.7.7.7
Factories
producing liquefied CO2 for extraction and filling and industrial gas
3,0
N
2.7.8
Facilities
dismantling old ships and cleaning and rinsing ships
2,6
N
...
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...
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TECHNICAL
INFRASTRUCTURE WORKS
3.1
Water
supply works of at least grade II
3.1.1
Water
supply processing in general
...
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...
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M
3.1.2
Water
factories
2,5
M
3.1.3
Clean
water processing works
2,4
M
...
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Water
distribution systems
2,7
M
3.1.5
Raw and
clean water pumping stations and water pump booster stations
2,7
M
3.2
Drainage
works of at least grade II
...
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...
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3.2.1
Balancing
lakes
6,5
N
3.2.2
Rainwater
pumping stations
2,7
M
...
...
...
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Wastewater
treatment works
2,4
M
3.2.4
Wastewater
pumping stations
2,7
M
3.2.5
Sludge
treatment works
...
...
...
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M
3.2.6
Drainage
processing in general
2,7
M
3.2.7
Drainage
systems
2,5
M
...
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Water
storage systems
2,5
M
3.2.9
Renovation
of urban drainage systems and drainage systems of residential areas
2,5
M
3.3
Solid
waste treatment works of at least grade II
...
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3.3.1
Ordinary
solid waste treatment facilities
3,0
N
3.3.2
Hazardous
waste recycling and treatment facilities and hazardous solid waste recycling
and treatment facilities with a capacity of at least 10 tons per day
3,3
N
...
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...
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Passive
telecommunications infrastructure works of at least grade III, such as
telecommunications houses and stations, antenna poles, and cable poles
3.4.1
Information
systems in general
1,9
M
3.4.2
Telephone
switchboard
...
...
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M
3.4.3
Information
supply (including the excavation work)
2,3
M
3.4.4
Information
supply (excluding the excavation work)
1,9
M
...
...
...
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Radios
and televisions
1,9
M
3.4.6
Towers
receiving and broadcasting waves of telecommunications, radio, and
television, and BTS poles
2,0
M
3.5
Funeral
parlors and cremation facilities of at least grade II
...
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N
3.6
Parking
lots (underground or above-ground) and technical sewers, tanks, trenches, and
tunnels of at least grade II
3.6.1
Underground
parking lots
2,5
N
...
...
...
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Above-ground
parking lots
1,5
N
3.6.3
Technical
sewers, tanks, trenches, and tunnels
3,5
N
4
TRAFFIC
WORKS
...
...
...
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4.1
Road: Expressways at all levels; motorways and urban roads
of at least grade III; ferry terminals of at least grade III; bus stations,
road vehicle registration facilities, toll booths, and rest stops of at least
grade III
4.1.1
Belt
conveyors
1,8
M
...
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...
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Conveyors
(except in the mining industry)
1,8
M
4.1.3
Cable
car roads
5,2
N
4.1.4
Electric
vehicle roads
...
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N
4.2
Railway:
High-speed railways, urban railways (overhead railways), national railways,
specialized railways, local railways at all levels, and passenger railway
stations of at least grade III
4.2.1
Overhead
monorail train systems
3,0
N
...
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...
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Railcar
and locomotive assembly of overhead monorail train systems
2,3
N
4.2.3
Construction
of overhead monorail train systems
3,0
N
4.2.4
Double-track
train systems (excluding the 0140 tramway and the 0150 metro line)
...
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M
4.2.5
Railcar
and locomotive assembly of double-track train systems
2,3
M
4.2.6
Construction
of double-track train systems
2,8
M
...
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Rack
railway
3,0
N
4.3
Bridge:
Road bridges, footbridges, railway bridges, and pontoon bridges of at least
grade III
4.3.1
Road
bridges
...
...
...
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N
4.3.2
Footbridges
4,0
N
4.3.3
Railway
bridges
4,5
N
...
...
...
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Pontoon
bridges
6,7
N
4.4
Tunnel:
Motorway tunnels, railway tunnels, and pedestrian tunnels of at least grade
III
4.4.1
Metro
lines
...
...
...
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N
4.4.2
Underwater
tunnels
8,4
N
4.4.3
Underground
tunnels
8,0
N
...
...
...
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Inland
waterway works of at least grade II
4.5.1
Inland
waterway ports and wharves (for passengers)
7,5
N
4.5.2
Inland
ports receiving ships
...
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N
4.5.3
Waterways
with B width and H depth of draft (including buoys and river engineering
works)
7,5
N
4.6
Maritime
works
...
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Sea
wharves/ports and ferry terminals (for passengers) of at least grade III
7,5
N
4.6.2
Other
maritime works of at least grade II
7,5
N
4.7
Aviation
works at all levels: airport terminals; airfields (including works that
ensure flight operations)
...
...
...
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4.7.1
Installation
of equipment and machinery at airports
2,8
N
4.7.2
Airplane
assembly
3,0
N
...
...
...
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Airports
(runways, cargo terminals, and passenger terminals)
2,0
N
4.7.4
Other
works in airfields
2,0
N
5
AGRICULTURE
AND RURAL DEVELOPMENT WORKS
...
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5.1
Irrigation
works
5.1.1
Water
supply works of at least grade II
6,5
N
5.1.2
...
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...
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6,5
N
5.1.3
Dams
and other pressure-resistant irrigation works of at least grade III
6,5
N
5.2
Dyke
works at all levels
10,0
...
...
...
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Note:
M and N
are symbols for types of deductible rates prescribed in Point b Clause 1
Section II of this Appendix
b)
Deductible rates
The
deductible rate for works prescribed in Clause 1 Section II of this Appendix
shall be applied according to Point b Clause 1 Section I of this Appendix
2.
Regarding works valued from at least 1.000 billion VND or works not mentioned
in Clause 1 of this Appendix
Insurers
and policyholders shall agree on the principles, terms, insurance premiums, and
deductibles on the basis of evidence proving the leading enterprises receive reinsurance
and confirm the reinsurance in accordance with the principles, terms, insurance
premiums, and deductibles provided to policyholders by insurers. Enterprises
that receive foreign reinsurance and organizations that receive foreign
reinsurance must be rated at least “BBB” according to Standard & Poor’s,
“B++” according to A.M.Best, or other equivalent ranks of other organizations
with functions and experience in ranking in the fiscal year closest to the
reinsurance year.
