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Wednesday, June 19, 2024

Monetary reward piloted for expressway contractors

By N. Tan

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HCMC – The Government has approved piloting rewarding contractors that execute construction and installation packages for traffic infrastructure projects under the National Socio-economic Recovery and Development Program.

The above policy is included in Decree 15, recently issued by the Government.

The reward will be piloted for 15 projects, including the eastern North-South road construction in 2021 – 2025, the Khanh Hoa-Buon Ma Thuot expressway – phase 1, the Bien Hoa – Vung Tau expressway – phase 1, the Chau Doc-Can Tho-Soc Trang expressway and the Cao Lanh-An Huu Expy expressway – phase 1.

Projects and project components that are implemented in accordance with the contract, meet specifications, are inspected and handed over in line with the construction law will be eligible for a reward.

The rewarding must be public, transparent, fair and specified in the bidding invitation documents and the contracts signed by investors and contractors.

Each bidding package will be subject to a monetary reward which will not exceed the funding.

Decree 15 also provides the adjustment and revocation of the monetary reward in the event of a default in calculation or violation of the rewarding principles as per the inspection’s conclusion.

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