Location via proxy:   [ UP ]  
[Report a bug]   [Manage cookies]                
Scribd Logo
Upload

Welcome to Scribd!

  • 139 views

    Haramain High Speed Rail - Delay in Payments

    Uploaded by

    Juan Dela Cruz
    ARC, the contractor for the Haramain High Speed Rail project, has repeatedly failed to make monthly payments to Shade Corporation, the subcontractor, on time as required by their contract. Shade has notified ARC of these payment delays multiple times but the issues persists. The latest payment summary shows that ARC has delayed every monthly payment to Shade, with delays ranging from 1 to 257 days past the due date. If payments are not received on time, Shade reserves the right to claim additional costs from ARC due to bank charges. Shade requests that ARC take corrective action to resolve this issue and ensure all future payments are made on time.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd

    Haramain High Speed Rail - Delay in Payments

    Uploaded by

    Juan Dela Cruz
    139 views2 pages
    ARC, the contractor for the Haramain High Speed Rail project, has repeatedly failed to make monthly payments to Shade Corporation, the subcontractor, on time as required by their contract. Shade has notified ARC of these payment delays multiple times but the issues persists. The latest payment summary shows that ARC has delayed every monthly payment to Shade, with delays ranging from 1 to 257 days past the due date. If payments are not received on time, Shade reserves the right to claim additional costs from ARC due to bank charges. Shade requests that ARC take corrective action to resolve this issue and ensure all future payments are made on time.

    Original Description:

    The file is good very good.

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    ARC, the contractor for the Haramain High Speed Rail project, has repeatedly failed to make monthly payments to Shade Corporation, the subcontractor, on time as required by their contract. Shade has notified ARC of these payment delays multiple times but the issues persists. The latest payment summary shows that ARC has delayed every monthly payment to Shade, with delays ranging from 1 to 257 days past the due date. If payments are not received on time, Shade reserves the right to claim additional costs from ARC due to bank charges. Shade requests that ARC take corrective action to resolve this issue and ensure all future payments are made on time.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    139 views2 pages

    Haramain High Speed Rail - Delay in Payments

    Uploaded by

    Juan Dela Cruz
    ARC, the contractor for the Haramain High Speed Rail project, has repeatedly failed to make monthly payments to Shade Corporation, the subcontractor, on time as required by their contract. Shade has notified ARC of these payment delays multiple times but the issues persists. The latest payment summary shows that ARC has delayed every monthly payment to Shade, with delays ranging from 1 to 257 days past the due date. If payments are not received on time, Shade reserves the right to claim additional costs from ARC due to bank charges. Shade requests that ARC take corrective action to resolve this issue and ensure all future payments are made on time.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    0:\9.) ")011 ') ! '"I' d....S"....

    m
    SHADE CORPORATION LTD
    SHADE
    Date: 23 March 201 3
    Ref. SHl/104-2013/IIP-l99
    Haramain High Speed Railways Project -JV
    AI Haramain Highway Bariman
    P.O. Box 121684, Jeddah 21322
    Tel: +9662 8269609/8269536
    Fax: +9662 2343518
    Attention: Eng. Soorej Zakaria, Contracts Manager
    Cc: Mr. Bachir Kassab /Eng. Mohammad Khamis Ashraf
    Subject: Notification to Rectify The Delay of Payments by ARC
    Project: HARAMAIN HIGH SPEED RAIL - JEDDAH-MADINAH, SAUDI ARABIA
    UNDERPASS AT 433+367, BRIDGES AT 445+547,447+044 & 375+224
    Dear Sir,
    This refers to the above mentioned subject: pursuant to the Subcontract Agreement No.
    SA/HHR/CCD-AAK/071/2009, The General Conditions Of The Subcontract, Clause 18.1 (a), we
    hereby submit to you our Notification for Contractor, Mis. ARC, Failure to comply with a condition of
    the Subcontract Agreement, Clause 2, item 2.3 Contractor Obligations: Contractor Shall make the
    Monthly Payments in time as described in this Contract.
    As per attached summary for advance & progress payments due dates and receiving dates from
    ARC to Shade, based on ARC payments certificates to Shade, and bank statement, it is proved that
    The Contractor, ARC, is not making payments to The Subcontractor, Shade, in time as described in
    this Contract pursuant to Conditions of Particular Application, Clause 6 (i) & (iii), Terms of Payment.
    Actually, since the beginning, the Contractor is not complying with the Subcontract Agreement by
    not paying the advance payment on time as shown clearly in the attachment: also, from day one
    till date, the contractor is always showing major and repetitive delay in all monthly payments for The
    Subcontractor which has dramatically affected the progress as notified in many letters to the
    . Contractor and in different circumstances.
    Moreover, we reserve our rights to claim shortly for the additional costs related to bank charges due
    to the delay of payments beyond the 60 days from receipt date as described in the subcontract.
    In the line of the above, we hereby request your corrective action for this matter and we hope that
    ARC will settle all our dues in due time to enable us to successfully complete this project.
    J. Mokdad
    Projects Control & Eng'g Manager
    CC. Mr. Hassan Ibrahim / Eng. Wessam Ibrahim
    General Contractors
    P.O. Box 7027 Dammam 31462 Saudi Arabi a n 1 r pl'l.>J1 V rv ,""'.v<>
    c. R. : 20500 24197 : ,;",0'" +966 3 8350100 +9663 8343910 c=: info@shadeco.com
    SHADE CORPORATION LTD.
    P0199- HARAMAIN HIGH SPEED RAIL-MADINAH
    DETAIL TRANSACTION LISTING
    AS OF: 23/03/2013
    Invoice Invoice NET
    Date No. RECEIVABLE
    30-Apr-12 PB 1 400,356.32
    31-May-12 PB 2 1,545,222.86
    30-Jun-12 PB 3 1,928,417.06
    31-Jul-12 PB 4 1,149,687.16
    31-Aug-12 PB 5 1,191,434.08
    30-Sep-12 PB 6 3,657,652.84
    31-0ct-12 PB 7 1,817,204.91
    30-Nov-12 PB 8 1,810 ,598.50
    31-Dec-12 PB 9 2,339,054.83
    31-Jan-13 PB10 2,007,943.72
    COLLECTION
    Date OR No. Amount
    14-Apr-12 5,000,000.00
    8-May-12 5,000,000.00
    10-Dec-12 1,766,661 .00
    16-Jul-12 400,356.32
    16-Jul-12 545,222.86
    8-Aug-12 1,000,000.00
    19-Nov-12 1,928,417.06
    19-Nov-12 1,149,687.16
    31-Dec-12 1,191,434.10
    15-Jan-13 3,657,652.84
    20-Mar-13 1,817,204.91
    12-Feb-13 1,810,598.00
    Due but not paid by ARC until now
    Not Due
    No. of days
    Date of Issued Due Date Payment
    Delay
    17
    3/24/2012 3/28/2012 41
    257
    5/1/2012 5/30/2012 47.00
    6/23/2012 7/15/2012 1.00
    6/23/2012 7/15/2012 24.00
    7/15/2012 8/16/2012 95.00
    8/9/2012 9/30/2012 50.00
    9/17/2012 11/16/2012 45.00
    9/29/2012 11/28/2012 48.00
    11/6/2012 11512013 77.69
    12/4/2012 21212013 10.00
    1/8/2013 3/9/2013 14.69
    2/4/2013 4/5/2013
    ,

    You might also like