APRIL 01 2021, NEW POINTS ON PRINCIPLES FOR ADJUSTING CONSTRUCTION CONTRACT

Decree 50/2021/NĐ-CP is amending and supplying Decree 37/2015/NĐ-CP on construction contract.

Some new points of this Decree as follow:
 

- Making clear regulation on construction contract adjustments apply throughout the extended contract period.
 

- With fixed unit price contract, price contract shall be adjusted in the following cases:

+ When the State changes its policies directly affecting the contract performance, unless otherwise agreed upon by the contractual parties;

+ When the project is adjusted, affecting the contract, unless otherwise agreed upon by the parties;

+ Force majeure circumstances as prescribed by law.
 

- With lump sum contract, supplying 2 cases shall be adjusted:

+ When the State changes its policies directly affecting the contract performance, unless otherwise agreed upon by the contractual parties;

+ When the project is adjusted, affecting the contract, unless otherwise agreed upon by the parties;