Official Dispatch No. 118/BXD-KTXD dated July 29, 2011 of the Ministry of Construction promulgating the adjustment on construction contract price

THE MINISTRY OF CONSTRUCTION

Official Dispatch No. 118/BXD-KTXD dated July 29, 2011 of the Ministry of Construction promulgating the adjustment on construction contract price

To: Song Da Joint Stock Company No. 11

The Ministry of Construction has received the Document No. 186/CV-SD11-KTTH dated July 04, 2011 of Song Da Joint Stock Company No. 11 on adjustment on material price in construction contract for the case of being late in transferring site plan. After considering, the Ministry of Construction has opinions as follows:

Adjustment contract price must base on the contract content which was signed between parties and comply with legal regulations in each period. According to regulations on the Decree No. 48/2010/ND-CP dated May 07, 2010 of the Ministry of Construction on contracts in construction activities, the progress of contract implementation will be adjusted in the case of being late in transferring site plan and not right to agreements in the contract and causing effects on the implementation of construction contract not for work contract party’s faults. Then, if material prices are fluctuated and policies are also changed, it is allowed to adjust contract price. Therefore, Song Da Joint Stock Company No. 11 listed in the Official Dispatch No. 186/CV-SD11-KTTH is allowed to adjust material prices when having any fluctuations.

Song Da Joint Stock Company No. 11 shall base on above opinion for the implementation./.

FOR THE MINISTER

MANAGER OF DEPARTMENT OF CONSTRUCTION ECONOMICS

Pham Van Khanh