THE MINISTRY OF FINANCE
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No. 76/2003/TT-BTC
Hanoi, August 4, 2003
 
CIRCULAR
PROVIDING GUIDELINES ON INSURANCE IN INVESTMENT AND CONSTRUCTION
Pursuant to the Law on Insurance Business dated 9 December 2000;
Pursuant to Decree 42/2001/ND-CP of the Government dated 1 August 2001 providing guidelines for implementation of a number of articles of the Law on Insurance Business;
Pursuant to Decree 52/1999/ND-CP of the Government dated 8 July 1999 issuing Regulations on Management of Investment and Construction; Decree 07/2003/ND-CP of the Government dated 30 January 2003 on amendment of and addition to a number of articles of the Regulations on Management of Investment and Construction issued with Decree 52/1999/ND-CP dated 8 July 1999 and Decree 12/2000/ND-CP of the Government dated 5 May 2000;
The Ministry of Finance hereby provides the following guidelines on insurance in investment and construction:
I. GENERAL PROVISIONS
1. When carrying out investment and construction under investment projects, relevant organizations and individuals (including foreign organizations and individuals engaged in investment and construction consultancy and in construction and installation of works in Vietnam) shall purchase insurance in accordance with this Circular to cover damage arising from unpredictable and unforeseeable risks or faults, omissions or negligence of organizations or individuals during the course of investment and construction.
 

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