Circular No. 02/2011/TT-BXD dated February 22, 2011 of the Ministry of Construction guiding the determination and publication of construction price index
MINISTRY OF CONSTRUCTION
THE SOCIALIST REPUBLIC OF VIETNAM
Independence– Freedom – Happiness
Hanoi, February 22, 2011
GUIDING THE DETERMINATION AND PUBLICATION OF CONSTRUCTION PRICE INDEX
Pursuant to the Law on Construction No.16/2003/QH11 dated 26/11/2003;
Pursuant to the Law Amending, Supplementing a number of Articles of the Laws relating to basic construction investment No.38/2009/QH12 dated 19/6/2009;
Pursuant to the Decree No.17/2008/ND-CP dated 04/02/2008 of the Government stipulating the functions, tasks, powers and organizational structure of the Ministry of Construction;
Pursuant to the Decree No.112/2009/ND-CP dated 14/12/2009 of the Government on management of work construction investment expenditures,
The Ministry of Construction guides the determination and publication of construction price index as follows:
Article 1. Scope of governing and subjects of application
This Circular guides the determination and publication of construction price index to:
a) Make and adjust the total investment rate, work construction estimates, bid packages estimates and bidding price, price of construction contract and conversion of work construction investment cost;
b) Develop and publish the construction price index periodically in the areas of provinces, cities under the central government;
c) Manage work construction investment cost.
2. Subjects of application:
a) The organizations and individuals relating to the management of work construction investment cost in the projects using 30% of state funds or more;
b) To encourage organizations and individuals relating to the management of work construction investment cost using less than 30% of state funds and other funding sources applied upon guidance in this Circular.
Article 2. Interpretation of terms
In this Circular, the below terms are construed as follows:
1. Work construction price index means the norm reflecting the volatility degree of the price of work construction by time.
2. Selected representative works to determine the construction price index mean the works which are built newly with use performance in accordance with the classification of works, built following the process of popular construction technology and use of the kinds of common building materials.
3. Types of construction works published price index mean a collection of construction works that are classified according to current regulations.
4. Original time means the time that is selected to be the original for comparison.