MunjazStrategy & projects
MunjazPMO PLATFORMRiyadh ChamberRC/2024/017
Terms, guarantees, milestones, variation orders and payment certificates.
From original to current value
Variations pending: 1 worth SAR 420K — if approved the value becomes SAR 15.3M
43% of the current value paid
Paid
6.4Mof a current value of SAR 14.9M
Construction of the chamber’s investment building — the Business Tower on King Fahd Road (22 floors of offices and retail), including groundwater treatment on site, foundations and finishes.
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: 3 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 9 days | — |
| 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: 2402200225
The integration layer is in place; data exchange starts once the permissions and interfaces are granted.
Bank guarantees and insurance policies with their expiry