My Business Portal 2.0 build & run contract

The parties

This contract is made between the Riyadh Chamber of Commerce & Industry (first party) and the contractor named in the data sheet (second party), under the procurement and contracts regulation approved by the chamber’s board.

Project

⁦My Business Portal 2⁩.⁦0⁩ — the Unified Member Journey (⁦PRJ-2026-014⁩)

Project manager

Eng. Sultan F. Al-Ghamdi

Budget

⁦SAR 4⁩.⁦32M⁩

Progress

⁦58% actual against 67% planned⁩

Forecast finish

⁦2027-05-12⁩

Key terms

• ⁦Delay penalty 0⁩.⁦5% a week⁩, ⁦capped at 10% of the contract value⁩
• A ⁦5% performance bond valid until final handover⁩
• ⁦10% retention on every certificate⁩

⁦Addendum 1⁩

⁦This addendum amends the payment schedule and adds complementary works within 10% of the contract value⁩.