Circular of the Ministry of Housing and Urban-Rural Development and the Ministry of Finance on Issuing the Measures for the Administration of Quality Security Deposit of Construction Projects
Circular of the Ministry of Housing and Urban-Rural Development and the Ministry of Finance on Issuing the Measures for the Administration of Quality Security Deposit of Construction Projects
Circular of the Ministry of Housing and Urban-Rural Development and the Ministry of Finance on Issuing the Measures for the Administration of Quality Security Deposit of Construction Projects
Jian Zhi [2016] No. 295
December 27, 2016
All provincial and autonomous regional departments of housing and urban-rural development, finance departments, direct-controlled municipal construction committees, finance bureaus, Construction Bureaus of Xinjiang Production and Construction Corps, Finance Bureaus and relevant departments under the State Council,
In order to implement the spirit of the Circular of the General Office of the State Council on Cleaning up and Regulating Security Deposit in the Engineering Construction Field (Guo Ban Fa [2016] No.49), and regulate the administration of quality security deposits of construction projects, the Ministry of Housing and Urban-Rural Development and the Ministry of Finance have formulated the Measures for the Administration of Quality Security Deposit of Construction Projects (hereinafter referred to as "the Measures"). They are hereby printed and issued to you, which shall be conscientiously implemented with the practical situation of your region and department.
Measures for the Administration of Quality Security Deposit of Construction Projects
Article 1 In order to regulate administration of quality security deposit of construction projects and clarify maintenance responsibility for projects in the defects liability period (DLP), the Measures are formulated in accordance with the Construction Law of the People's Republic of China, Administrative Regulations on the Quality Management of Construction Engineering, Circular of the General Office of the State Council on Cleaning up and Regulating Security Deposit in the Engineering Construction Field and Financial Rules for Capital Construction and other relevant provisions.
Article 2 The term "quality security deposit of construction projects" (hereinafter referred to as the "security deposit") as mentioned in the Measures refers to the capital reserved from the project payments to ensure that the contractor shall, within the DLP, remedy defects in construction projects as agreed by the contracting parties in the construction contract.
Defects refer to the nonconformity of construction project quality with mandatory standards of construction projects, design documents, as well as stipulations agreed in the contract.
The DLP is generally one year, generally not exceeding two years, as agreed by the employer and the contractor in the contract.
Article 3 The employer shall specify in the tender documents such contents as reservation and release of the security deposit, and agree with the contractor in the terms of the contract on the following matters concerning the security deposit:
1.
......
Jian Zhi [2016] No. 295
December 27, 2016
All provincial and autonomous regional departments of housing and urban-rural development, finance departments, direct-controlled municipal construction committees, finance bureaus, Construction Bureaus of Xinjiang Production and Construction Corps, Finance Bureaus and relevant departments under the State Council,
In order to implement the spirit of the Circular of the General Office of the State Council on Cleaning up and Regulating Security Deposit in the Engineering Construction Field (Guo Ban Fa [2016] No.49), and regulate the administration of quality security deposits of construction projects, the Ministry of Housing and Urban-Rural Development and the Ministry of Finance have formulated the Measures for the Administration of Quality Security Deposit of Construction Projects (hereinafter referred to as "the Measures"). They are hereby printed and issued to you, which shall be conscientiously implemented with the practical situation of your region and department.
Measures for the Administration of Quality Security Deposit of Construction Projects
Article 1 In order to regulate administration of quality security deposit of construction projects and clarify maintenance responsibility for projects in the defects liability period (DLP), the Measures are formulated in accordance with the Construction Law of the People's Republic of China, Administrative Regulations on the Quality Management of Construction Engineering, Circular of the General Office of the State Council on Cleaning up and Regulating Security Deposit in the Engineering Construction Field and Financial Rules for Capital Construction and other relevant provisions.
Article 2 The term "quality security deposit of construction projects" (hereinafter referred to as the "security deposit") as mentioned in the Measures refers to the capital reserved from the project payments to ensure that the contractor shall, within the DLP, remedy defects in construction projects as agreed by the contracting parties in the construction contract.
Defects refer to the nonconformity of construction project quality with mandatory standards of construction projects, design documents, as well as stipulations agreed in the contract.
The DLP is generally one year, generally not exceeding two years, as agreed by the employer and the contractor in the contract.
Article 3 The employer shall specify in the tender documents such contents as reservation and release of the security deposit, and agree with the contractor in the terms of the contract on the following matters concerning the security deposit:
1.
......