The total payment for the BT project must not exceed the total investment approved by the competent authority.
This Decree applies to parties in the Build-Transfer (BT) contract, agencies, organizations, and individuals involved in BT project investment activities in Nghe An province.
The Decree clearly states the regulations regarding BT project payments.
Sources of Capital for BT Project Payments
According to the Decree, the sources of capital for BT project payments include: public investment capital from the state budget in the medium-term and annual public investment plans of the province; revenue from auctions of public assets and land-use rights.
The People’s Committee of Nghe An province reports to the Provincial People’s Council to decide on the use of the above-mentioned sources to pay for the BT project.
Principles of Capital Control and Payment
As per the Decree, the State Treasury is responsible for controlling and making payments for public investment capital from the state budget, revenue from auctions of public assets, and land-use rights, following the prescribed regulations.
The agency signing the BT project contract shall open an account at the State Treasury for convenient transactions. The account opening procedure shall comply with the Government’s regulations on administrative procedures in the field of the State Treasury and the Ministry of Finance’s guidelines on registering and using accounts at the State Treasury.
Upon receiving the detailed capital allocation documents for the public investment plan (including adjustments and supplements, if any) from the People’s Committee of the provincial levels in Nghe An, for tasks and projects that meet the investment procedures prescribed in Resolution No. 137/2024/QH15 and have been allocated or adjusted in capital allocation, the State Treasury shall make payments based on the BT contract-signing agency’s payment request documents, the payment terms stipulated in the BT contract and its appendices (if any), the number of payments, payment phases, timing, conditions, and the value of each payment.
If the payment request documents from the BT contract-signing agency do not comply with the prescribed regulations or are incomplete, the State Treasury shall reject the payment and, within a maximum of 03 working days from receiving the payment request, send a written notice stating the specific reasons for rejection to the BT contract-signing agency, allowing them to complete and supplement the necessary documents as per this Decree.
The State Treasury shall complete the capital control and payment process within a maximum of 03 working days from receiving the complete set of payment documents from the BT contract-signing agency, as stipulated in this Decree.
The total payment for the BT project must not exceed the total approved investment, and the state budget disbursement for the project in a year must not exceed the annual public investment plan allocated for the project, the revenue from auctions of public assets, and land-use rights that have been deposited into the state budget for project payment.
The State Treasury is responsible for timely and sufficient capital control and payment, in accordance with regulations, when the BT project meets the payment conditions and provides the necessary payment documents.
The BT contract-signing agency is responsible for managing and utilizing the capital efficiently, for the right purposes and subjects, complying with existing laws, and bearing responsibility for the accuracy of the implemented volume, unit prices, payment values, and documents provided to the State Treasury.
Conditions for BT Project Payments
The Decree clearly states that the BT project must be included in the list of BT projects in the medium-term and annual public investment plans of the province, approved by the Nghe An Provincial People’s Council.
The allocation of investment capital for BT project payments shall be made within a maximum of 06 years for Group A projects, 04 years for Group B projects, and 03 years for Group C projects, starting from the time the project is completed and handed over to the State.
The BT contract and its appendices must specify the ratio of owner’s equity to borrowed capital, the sources of capital, conditions, time limits, and the number of payments made by the State to the BT project enterprise or investor (in cases where a BT project enterprise is not established).
The State shall make payments to the BT project enterprise or investor (in cases where a BT project enterprise is not established) after the BT project or independent construction items, works, or components of the BT project are put into operation, as certified by the BT contract-signing agency in accordance with the construction law, and after the value of the completed BT project, independent construction items, works, or components of the BT project has been audited.
The final payment shall only be made after the competent authority approves the settlement of the investment capital value of the completed BT project.
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