Conditions for the investor’s bid to be considered valid?

Pursuant to Clause 1, Clause 2 and Clause 3, Article 21 of Decree 23/2024/ND-CP, regulations on evaluating investor bids are as follows:

1. Conditions for investors’ bids in 2024 to be considered valid?
An investor’s bid is considered valid when it fully meets the following conditions:

(i) Have original bid documents.

(ii) Have a valid bid application, signed and stamped by the investor’s legal representative (if any) as required in the bidding documents. For joint venture investors, the bid form must be signed and stamped by the legal representative of each joint venture member (if any) or the member assigned to represent the joint venture must sign the bid form according to the assigned responsibilities in the joint venture agreement document.

(iii) The value stated in the bid must be specific and fixed in numbers and words; Do not propose different values ​​​​in terms of investment efficiency for development of industries, fields, localities or include conditions that are disadvantageous to competent agencies or bidding parties.

(iv) The validity of the bid documents meets the requirements specified in the bidding documents.

(v) Have a valid bid guarantee.

(vi) The investor is not named in two or more bids as an independent investor or a member of a joint venture.

(vii) Have a joint venture agreement signed and sealed by the legal representative of each joint venture member (if any).

(viii) The investor ensures eligibility according to the provisions of Article 5 of the Bidding Law 2023.

2. What does checking the validity of bid documents include?
Checking the validity of bid documents includes the following contents:

(i) Check the number of originals and photocopies of bidding documents.

(ii) Check the components of the bid documents including: Bid form, joint venture agreement (if any), authorization letter to sign the bid form (if any); bid guarantee; Documents proving the eligibility of the person signing the bid form (if any); Documents proving the investor’s eligibility, capacity and experience; Proposed content of business investment plan; Proposed content on investment efficiency in developing industries, fields and localities; other components of the bidding documents.

(iii) Check the consistency of content between the original and the photocopy to serve the detailed evaluation process of the bid.

3. What are the regulations on evaluating bids?
The evaluation of bid documents is specifically stipulated as follows:

(i) Evaluation of bid documents includes assessment of the investor’s capacity and experience, assessment of business investment plans and assessment of investment effectiveness in developing industries, fields and localities.

(ii) The evaluation of bids is carried out according to the evaluation methods and standards specified in the bidding documents.

Article 9. Processing and storing documents during the process of selecting contractors and investors – Bidding Law 2023

1. The contractor’s financial proposal that does not pass the technical evaluation step will be returned to the contractor in its original state within the following deadline:

a) For bidding packages providing consulting services: within 10 days from the date of signing the contract with the selected contractor;

b) For bidding packages providing non-consulting services, procurement of goods, construction and installation, mixed use, a one-stage, two-envelope method is applied: this is done when returning or releasing the bid security of the non-selected contractor or when posting the contractor selection results.

2. Financial proposals of investors that do not pass the technical evaluation step will be returned intact to the investor upon refunding or releasing the bid security of the unselected investor or upon posting the results of investor selection.

3. In case the time limit specified in Clauses 1 and 2 of this Article expires and the contractor or investor does not receive back their financial proposal, the bid solicitor shall consider and decide to cancel the dossier but must ensure that the information is not disclosed.

4. In case of bid cancellation, related documents will be archived for a period of 05 years from the date the bid cancellation decision is issued.

5. Final settlement documents, completion documents and documents related to the winning bidder of the bidding package are archived in accordance with the law on archiving.

6. All documents related to the process of selecting contractors and investors are stored for a minimum period of 05 years from the date of contract settlement or the date of termination of the business investment project contract, except for the documents specified in Clauses 1, 2, 4 and 5 of this Article.