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THE
MINISTRY OF FINANCE
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SOCIALIST
REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No.
414/TC-TCDN
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Hanoi,
June 14, 1997
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DECISION
AMENDING
AND SUPPLEMENTING THE REGULATION ON BIDDING FOR EXPORT GOODS AND SERVICES FOR
PAYMENT OF FOREIGN DEBTS
THE MINISTER OF FINANCE
Pursuant to Decree No.15-CP
of March 2, 1993 of the Government defining tasks, powers and State management
responsibility of the Ministries and ministerial-level agencies;
Pursuant to Decree No.178-CP of October 28, 1994 of the Government on the
tasks, powers and organizational structure of the Ministry of Finance;
Pursuant to Decree No.40-CP of July 3, 1995 of the Government on payment of
foreign debts with goods and services paid for in foreign currency;
At the proposals of the Head of the Department of External Finance and the
General Director of the General Department for Management of State capital and
Property at Enterprises,
DECIDES:
Article 1.- To issue
together with this Decision the provisions amending and supplementing the
Regulation on Bidding applied to Export Goods and Services for Payment of
Foreign Debts promulgated together with Decree No.40-CP of July 3, 1995 of the
Government.
Article 2.-
This Decision takes effect after its signing. The provisions of the Regulation
on Bidding for Export Goods and Services for Payment of Foreign Debts issued
together with Decision No.299-TC/TCDN of March 23, 1996 of the Ministry of
Finance which are not contrary to this Decision shall remain effective. Members
of the Bidding Council and the related Departments of the Ministry of Finance
shall implement this Decision.
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THE
MINISTER OF FINANCE
Nguyen Sinh Hung
PROVISIONS AMENDING AND SUPPLEMENTING THE
REGULATION ON BIDDING FOR EXPORT GOODS AND SERVICES FOR PAYMENT OF FOREIGN
DEBTS
(Issued together with Decision No.414-TC/TCDN of the Minister of
Finance)
To perfect the mechanism of debt
payment with export goods and services, the Ministry of Finance hereby provides
the following supplements to a number of points in the Regulation on Bidding
for Export Goods and Services for Payment of Foreign Debts issued together with
Decision No.299-TC/TCDN of March 23, 1996 of the Minister of Finance:
1. Organizations acting as
main exporters to sign export contracts with foreign parties.
With regard to some traditional
markets, to protect Vietnams prestige in the export of goods for debt payment,
the Ministry of Trade shall coordinate with other concerned ministries to
appoint certain enterprises as main exporters for the purpose of signing export
contracts for debt payment with foreign parties.
Basing themselves on the annual
debt payment plan for each country-creditor and the commodity structure agreed
upon by the two governments concerned, the Ministry of Trade shall assume
primary responsibility and coordinate with the Ministry of Finance and the
Ministry of Planning and Investment to nominate domestically and
internationally prestigious and experienced enterprises to sign export
contracts for debt payment with foreign parties. Organizations nominated as
main exporters shall have the right to refuse the nomination by sending a
written refusal to the Ministry of Trade, the Ministry of Planning and Investment
and the Ministry of Finance within 30 days after receiving the written
nomination from the Ministry of Trade (counting from the date affixed on the
postal stamp or the date the organization signed a receipt for delivery of
notice of the written nomination) and by the end of the third quarter every
year at the latest.
The contents of the main clauses
of a goods export contract for debt payment must comply with the basic clauses
of the common goods export contract, particularly with regard to the goods
delivery conditions which must conform to the basic delivery conditions of
international practices.
Right after signing contracts
with foreign parties, and not later than one month before the expiry of the
goods delivery time-limit, the main exporter shall apply to the Ministry of
Trade for ratification of the contracts and to the Ministry of Finance for
organization of a bidding.
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If loosing the bid, a main
exporter shall, besides its entitlement to perform 20% of the contract value,
be entitled to enjoy the export assignment royalty. The amount of the export
assignment royalty shall be agreed upon by the main exporter and the winning
bidder on the basis of the common market export assignment royalty for assigned
exportation of the similar commodity (maximum is 1% of the total bid winning
value) and shall be stated in the export assignment contract paid for by the
winning bidder.
2. Supplementing Article 1:
Subjects and conditions for participating in a tender.
In cases where the State
solicits a bid for the performance of export contracts signed between a
Vietnamese main exporter and a foreign party, the bid participants are not
required to have direct export permits but to be State enterprises having
business registration permits for trading in suitable commodities.
Enterprises participating in a
bid shall have to make commitments to have enough financial ability to perform
the contracts if they win the bid. After winning the bid, the enterprises may
use goods orders signed with the Ministry of Finance as basis for raising
capital, in case of necessity (if it is accepted by the lending party).
The bid winning units shall have
to sign assignment contracts with the main exporters for the delivery of goods
in accordance with the export contracts already signed with foreign parties.
3. Supplementing Article 2:
Bidding principles.
Basing itself on concrete
conditions of each bidding, the Bidding Council shall decide on the division of
the bid value into one or many lots.
Enterprises participating in the
bid shall be entitled to register for one or many lots in each bidding at the
exchange rate set for each respective lot.
4. Amending Article 5: Bid
registration.
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5. Amending Article 6: Bid
evaluation criteria.
If a bidding consists of many
lots, the Bidding Council shall consider and decide the bid winning enterprise
for each lot. The bid winning enterprise of each lot shall be the enterprise
that has registered the lowest exchange rate for such lot.
In cases where the bid winning
enterprise later refuses to take part in the delivery of goods in accordance
with the bidding results, it must immediately inform the Bidding Council
thereof in writing within 3 days after the bid opening. The Bidding Council
shall make an announcement and assign the unit that has offered the next lowest
exchange rate to perform the contract, provided that such unit accepts the bid
winning exchange rate. If two or more units that have offered the same next
lowest exchange rate want to perform the contract, the value of the refused
contract shall be equally divided among such units for performance. If no unit
wants to perform the contract, the Bidding Council shall organize another
bidding for the lot of goods that has been refused.
As for the enterprise that has
refused the bidding results, it shall not be allowed to participate in the
subsequent biddings.
6. Amending Article 7: Modes
of depositing.
Mode 1: By bank
securities: An enterprise shall have to deposit money into its bank account
with certification by the bank which clearly states the amount of money
deposited and that the purpose of the deposit is to secure a goods order. When
the enterprise has fulfilled the order, the bank security shall become
released.
Mode 2: The bid
winning enterprise shall open an account at the State Treasury of the locality
where its head office is located and deposit money therein for certification
from the Treasury; such written certification shall be sent to the Ministry of
Finance (the Department of External Finance) for the signing of the goods
order.
The enterprise shall abide by
the regulations on deposit accounts set by the bank or State Treasury where it
deposits money.
7. Cases of force majeure.
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Other provisions of the
Regulation on Bidding promulgated on March 23, 1996 that are not contrary to
the provisions of this Decision shall remain effective.
In the course of implementation,
if any problem arises, the related ministries, branches, localities and units
shall have to promptly report it to the Ministry of Finance for consideration
and appropriate readjustment.