Type of contractor for the bank's conditional credit?

Thu, 29 Apr 2021 12:39:00  |  Print  |  Email   Share:

If the contractor provides documents proving that there is one or several assets with high liquidity or credit commitment of a credit institution lawfully operating in Vietnam with a satisfying value requirements of bidding documents are rated "pass" in this content.

(According to Mr. Thanh Trung (in An Giang Province), refer to Clause 3.3, Section 2.1, Chapter III of the approved bidding documents, which stipulates that "the contractor proves by the credit commitment of the bank or legal credit institution, he / she commits. This credit must ensure that the Contractor is eligible for credit for the execution of this package and does not require other conditions and content to compel the contractor (company) to receive credit use”.

When participating in contractor A, there is a letter of commitment from the bank providing the value credit according to the bidding documents, but the bank has additional conditions that "contractor A ensures to fully meet the conditions. To  loan in accordance with the loan regulations and regulations at the time of borrowing by the State Bank and the Joint Stock Commercial Bank for Investment and Development of Vietnam ".

In the opinion of the consultant of bid evaluation, this commitment letter does not meet the bidding documents, because at the time of opening the bid, this contractor is not sure to have the required amount in the bidding dossier, because of the lack of clarity forced by the bank. Consult this type of contractor for the above reason.

Mr. Trung would like to ask, is such the consultant correct? Is the bidding documents specified as such in accordance with the Circular No. 05/2015 / TT-BKHDT of the Ministry of Planning and Investment?

The Ministry of Planning and Investment answers to this issue as follows:

According to the instructions in the Note No (9) Section 2.1 Chapter III and the notes in the Form No. 10 Chapter IV The form of the invitation to bid for goods procurement using the single-stage and two-envelope bidding procedure issued together with the Circular Investment No. 05/2015 / TT-BKHDT dated June 16, 2015 of the Ministry of Planning and Investment, highly liquid assets are cash and cash equivalents, short-term financial instruments, and available-for-sale securities, easy-to-sell securities, trade receivables, short-term financial receivables and other assets that can be converted to cash within 1 year.

In the case in the bid, the contractor has enclosed a credit commitment of a credit institution lawfully operating in Vietnam, in which it undertakes to provide credit to the contractor for the execution of the bidding package. Considering the minimum limit equal to the required value according to the bidding documents during the contract performance period, the contractor is assessed as meeting the financial resource requirements for the bidding package.

Regarding the matter of the Company, when participating in the bid, if the contractor provides documents proving that there is one or several highly liquid assets in accordance with the above guidance or the credit commitment of the credit institution, lawfully operating in Vietnam with the value meeting the requirements of the bidding documents shall be rated "pass" in this content.

A bank's credit commitment must comply with the provisions of the credit law, including the obligations and conditions between the two parties.

According to Chinhphu.vn

By: Online Newspaper of the Government / Translator: HaiYen-Bizic

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