Official Dispatch No. 164/TTg-CN of January 29, 2008, re adjustment of prices and modification of contract type of lump-sum contracts

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Issuing body:	Prime Minister	Effective date:	Known Please log in to a subscriber account to use this function. Don’t have an account? Register here
Official number:	164/TTg-CN	Signer:	Hoang Trung Hai
Type:	Official Dispatch	Expiry date:	Updating
Issuing date:	29/01/2008	Effect status:	Known Please log in to a subscriber account to use this function. Don’t have an account? Register here
Fields:	Construction

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THE PRIME MINISTER -------	SOCIALIST REPUBLICOF VIETNAM Independence - Freedom– Happiness ----------
No: 164/TTg-CN Re: Adjustment of prices and modification of contract type of lump-sum contracts	Hanoi, January 29, 2008

To: Ministries, Ministerial –level Bodies, Governmental Bodies

Having examined the Dispatch No. 34/BKH-QLDT dated 02/01/2008 on resolution of construction costs in lump - sum construction contracts submitted by the Ministry of Planning and Investment, the Prime Minister has following opinions:

1. Permit to adjust the price of materials, fuel and major construction materials which have been suffered from sudden increasing price recently that beyond the control of contractors ;

2. Permit to modify lump–sum contracts from lump-sum type to adjustable price type due to recent booming of market price that beyond the control of investors and contractors ;

3. The following principles shall be ensured in adjustment procedure:

a) Price adjustment: Shall be applied only to materials, fuel and construction materials under the State management and having sudden increase prices that excess those agreed in the contracts. This adjustment is applicable to both lump-sum contracts and fixed price contracts.

b) Contract type modification: Investment decision makers of the subjected projects shall examine and decide to modify contracts from lump-sum type to adjustable type, provided that the content and scope of application of such modification shall be clearly defined and modification shall be applied from the time of price booming forward.

4. Assign the Ministry of Construction to preside and coordinate with the Ministry of Planning and Investment and the Ministry of Finance to review and provide detail instruction for modification of cost estimate, bidding package price, total investment value of the project and modification of contract type from lump-sum contract or fixed unit price contract to adjustable price contract.

5. Assign the Ministry of Planning and Investment to preside and coordinate with related ministries and sectors to define the value and sources of capital for projects subjected to modification of Total investment value.

CC: -
The PM, VPM Nguyen Sinh Hung, VPM Hoang Trung Hai
- PC of central provinces & cities,
- Gov. Office: Minister- Secretary General, BTCN, Mr. Van Trong Ly,Mr. Nguyen Quoc Huy,
-Departments:General Economy, General services, Governmental Website Archives,

PP. THE PRIME MINISTER
VICE PRIME MINISTER

Hoang Trung Hai

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Official Dispatch No. 164/TTg-CN of January 29, 2008, re adjustment of prices and modification of contract type of lump-sum contracts

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