RC/2024/003
Terms, guarantees, milestones, variation orders and payment certificates.
From original to current value
Variations pending: 1 worth SAR 190K — if approved the value becomes SAR 18.9M
72% of the current value paid
Paid
13.4Mof a current value of SAR 18.7M
AI insight
Open claims: 3; pending variations worth SAR 190K. A settlement session with the contractor is advised before deciding the next certificate.
Design and build to rehabilitate the chamber’s current headquarters on King Fahd Road into a member services centre, with a new wing of 28 sectoral-committee and training rooms, including central HVAC, underground water tanks and Civil Defence-approved fire alarm and suppression, with 12 months of trial operation.
Monthly certificates on quantities measured and certified by the consultant, paid within 30 days of approval; the advance is recovered from each certificate.
Payment period
30 days
Retention
10%
Released at final acceptance
Advance payment
10%
Recovered from certificates
Penalty cap
10%
Of the contract value
Defects liability
12 months
After substantial completion
Bar: paid share of the value; gold mark: today
Met: 2 of 4
| Measure | Target | Achieved | Breach penalty |
|---|---|---|---|
| HSE incident notification | within 24 h | 2 reported after 48 h | 2,500 |
| Non-conformance close-out | within 14 days | average 23 days | 1,250 |
| Monthly progress report | by the 5th of the month | on time | — |
| Actual vs planned manpower | at least 90% | 94% | — |
Integration-ready for the Dynamics 365 supplier portalIntegration-ready
Supplier-portal reference: 2401220043
The integration layer is in place; data exchange starts once the permissions and interfaces are granted.
Bank guarantees and insurance policies with their expiry
