3 Common Questions About Expression of Interest (EOI) Documents

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What is an Expression of Interest (EOI) Document?

An Expression of Interest (EOI) document is understood as the entirety of materials prepared by the bidder or investor and submitted to the procuring entity as required by the EOI invitation documents.

03 Common Questions Related to EOI Documents

Below are some common questions related to EOI documents that businesses can refer to for a better understanding:

How long is the preparation time for EOI documents according to the latest Bidding Law?

According to point a, clause 1, Article 45 of the Bidding Law 2023, the specific regulations on the preparation time for EOI documents are as follows:

“Article 45. Time for Organizing Bidder Selection

The time for organizing bidder selection is regulated as follows:
a) The minimum preparation time for EOI documents and prequalification documents is 09 days for domestic bidding and 18 days for international bidding from the first day the EOI invitation documents and prequalification documents are issued until the bid closing time;

…”

Thus, the preparation time for EOI documents according to the Bidding Law 2023 is determined as follows:

• At least 09 days for domestic bidding.
• At least 18 days for international bidding.

This time is calculated from the first day the EOI invitation documents are issued until the bid closing time.

What are the conditions that the consulting bidder evaluating the EOI documents must meet to be legally and financially independent?

According to point b, clause 1, clause 4, Article 6 of the Bidding Law 2023, there are regulations on ensuring competition in bidding as follows:

“1. The bidder submitting the EOI documents and prequalification documents must be legally and financially independent from the following entities:

...

b) The consulting bidder evaluating the EOI documents and prequalification documents;
The bidder specified in clauses 1, 2, and 3 of this Article is evaluated as legally and financially independent when meeting the following conditions:

a) Not under the same agency or organization that directly manages a public non-business unit;

b) The bidder and the investor or procuring entity do not hold shares or contributed capital exceeding 30% of each other;

c) The bidder does not hold shares or contributed capital exceeding 20% of each other when jointly participating in a package under restricted bidding;

d) The bidder participating in the bid and the consulting bidder for that package do not hold shares or contributed capital in each other; do not hold shares or contributed capital exceeding 20% in a third party entity with the other.

...”

Thus, a consulting bidder evaluating the EOI documents is considered legally and financially independent if they meet the following conditions:    

• Not under the same agency or organization that directly manages a public non-business unit    

• The bidder and the investor or procuring entity do not hold shares or contributed capital exceeding 30% of each other.    

• The bidder does not hold shares or contributed capital exceeding 20% of each other when jointly participating in a package under restricted bidding    

• The bidder participating in the bid and the consulting bidder for that package do not hold shares or contributed capital in each other; do not hold shares or contributed capital exceeding 20% in a third party entity with the other.

      

Will a winning bidder be disqualified for intentionally providing false information in the EOI documents?

According to point d, clause 1, clause 4, Article 17 of the Bidding Law 2023, there are specific regulations on cases of bid cancellation for bidder selection as follows:

“Article 17. Bid Cancellation

Cases of bid cancellation for bidder selection include:
...

c) The EOI invitation documents, prequalification invitation documents, bidding documents, or request for proposals do not comply with the provisions of this Law and other relevant laws, leading to the selected bidder failing to meet the requirements to perform the package;

d) The winning bidder commits a prohibited act as stipulated in Article 16 of this Law;

đ) Other organizations or individuals, aside from the winning bidder, commit a prohibited act as stipulated in Article 16 of this Law, leading to a distortion of the bidder selection results.

...

4. Organizations or individuals who violate the law, leading to bid cancellation as stipulated in points c, d, đ of clause 1 and points c, d, đ of clause 2 of this Article, must compensate the relevant parties for incurred costs.”

Additionally, point b, clause 4, Article 16 of the Bidding Law 2023 specifically outlines fraudulent behaviors in bidding activities, including:

“Article 16. Prohibited Acts in Bidding Activities

...

4.Fraud includes the following behaviors:

a) Forging or falsifying information, records, and documents in bidding;

b) Intentionally providing untruthful, inaccurate, or biased information and documents in the EOI documents, prequalification documents, project investment registration documents, bidding documents, or proposals, in order to distort the results of bidder or investor selection.

...”

Thus, according to the above regulations, providing false information in the EOI documents is considered fraud in bidding. Consequently, if a winning bidder intentionally provides inaccurate or false information in the EOI documents, the bid will be canceled, and the bidder must compensate the relevant parties for incurred costs.

These are DauThau.info's insights into common queries related to EOI documents. We hope the information above helps businesses better understand this type of document.

If your business is looking to learn more about EOI invitation documents, you can refer to DauThau.info’s article to understand the regulations on submitting, evaluating, and the latest templates for EOI invitation documents in bidder selection bidding as of now. 

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