Overview of Official Dispatch 97/BXD-KTXD in 2014

Official Dispatch 97/BXD-KTXD issued by the Ministry of Construction provides guidance on the payment and final settlement of construction contracts. The document serves as an important legal basis for investors, contractors, and relevant entities to execute contract payments and final accounts accurately and in accordance with construction cost management regulations.

Key Regulations on Payment and Settlement of Construction Contracts

• Principles of Contract Payment: Payment for construction contracts must strictly conform to the payment terms agreed upon in the signed contract, the contract price type, and the actual conditions of executed works.
• Payment Documentation and Procedures: Parties are required to compile complete payment dossiers, including volume acceptance certificates, detailed payment calculation tables, and valid supporting documents as prescribed by law.
• Final Settlement of Construction Contracts: Final settlement involves determining the total final value that the employer is obligated to pay the contractor upon completion of all contracted works. Settlement bases include as-built documentation, hand-over acceptance records, and finalized contract value calculations.

Implementation and Application Guidelines

Parties entering into construction contracts must adhere to the terms established in their agreements, provided they comply with the legal framework effective at the time of contract signing. Following the specific guidance from the Ministry of Construction helps ensure compliance, accuracy, and efficiency while minimizing legal disputes during the payment and settlement process.