Not only complying with economic laws such as the law of supply and demand, law of price and value, bidding helps make the procurement of goods and services in building management most transparent.
Through bidding, the Management Board and Management Company have a more varied choice of goods and service contractors to achieve highest efficiency and best utilize the budget of residents.
Vietnam’s government has issued a number of regulations and guidelines on bidding process for an efficient expenditure management. Therefore, the Management Board and Management Company must comply with those regulations and guidelines to guarantee transparency, justice and efficiency through competitive procurement activities in which the budget of the building is utilized.
Please refer to the government’s Bidding Law and Guidelines on Bidding Law and selection of construction contractors under Construction Law.