Adjusting on the E-Bid evaluation period; 5 cases SMEs are supported in dealing with risks

E-bid evaluation period (E-Bid)

Circular 05/2018/TT-BKHDT promulgated by the Ministry of Planning and Investment  took effect on 1st of September 2019, and regulated that The E-bid evaluation period will last no longer than 45 days from the bid opening date to the date on which the Procuring Entity requests the Investor to approve the results of bidder selection. The e-Bid evaluation period exclude the period of assessment and approval, including the period of assessment of Technical Proposal evaluation applicable to the package with single-stage and two-envelope bidding procedure.

With regard to a small-scale package, the e-Bid evaluation period will last no longer than 25 days from the bid opening date to the date on which the Procuring Entity requests the Investor to approve the results of bidder selection. In necessary cases, the Bid evaluation period may last longer than prescribed period but not exceeding 20 days.

5 cases, in which small and medium sized enterprises (“SMEs”) considered to be supported in dealing with risks

On 26th of August 2019, the Ministry of Finance issued Circular 57/2019/TT-BTC guiding the schemes to deal with risks of the Credit Guarantee Fund toward the SMEs, this Circular is entering into force on 15th of January 2019

Accordingly, this Circular regulated cases when the SMEs are considered to be supportive while in dealing with risks when:

  1. Customer suffered damages in finance, properties due to natural disasters, bad crops, epidemic, flame, political risks, war affecting the manufacturing business, resulting in the insolvency of debts (debt and interest) of the customer in maturing date regarding the executed loan agreement.
  2. Customer went bankrupt as regulated under current law
  3. The change in policies affecting the business of customers, resulting in the insolvency of debts (debt and interest) of the customer in maturing date regarding the executed loan agreement.
  4. Customers dealing with troubles due to other objective reasons directly affecting to the business, resulting in the insolvency of debts (debt and interest) of the customer in maturing date regarding the executed loan agreement.
  5. Customers, who bear bad debts (falling into group no.3 to group no.5) according to debt classification result in accordance with the regulation of the State Bank of Vietnam.

In the event of falling into these risks, the Credit Guarantee Fund shall implement one or more of these below measurements to support enterprises including: (i) Debt structuring (payment term adjustment; debt extension); (ii) charge-off, (iii) disposal of collateral; (iv) debt purchase; (v) write-off principal debts; (vi) write-off interests.