New policies take effect on today (April 20, 2023)

Today - April 20, 2023, Circular No. 02/2023/TT-BXD of the Ministry of Construction takes effect with many new guidance on construction contracts.

Circular No. 02/2023/TT-BXD of the Ministry of Construction guides many important contents as follows:

- Guiding payment, temporary payment, and temporary payment dossiers of construction contracts;

The payment of construction contracts shall comply with Article 19 of Decree No. 37/2015/ND-CP.
The manufacture of structures, semi-finished products of high value, or construction materials to be seasonally reserved that are required the advance payment for performance as specified in Clause 7 Article 18 of Decree No. 37/2015/ND-CP.
The advance payment dossier must comprise the list, unit prices, and total values of materials, structures, and semi-finished products.
The subtraction of the value of completed work volume subject to the pre-acceptance test corresponding to the value of advance payment under the contracts must be conducted upon payment

- Adjustment of construction contract performance schedule:

The adjustment of the construction contract performance schedule shall comply with Article 39 of Decree No. 37/2015/ND-CP.
Upon the adjustment of the construction contract performance schedule specified at Point a Clause 2 Article 39 of Decree No. 37/2015/ND-CP, the principal and contractor shall be responsible for assessing the impacts of force majeure events on the construction contract performance schedule to determine and decide on the suitable adjustment.