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    Quality Assurance Plan Procedure MP 2.2 - Financial Management

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    enfrspit
    The document describes the quality assurance plan and financial management procedure for the Southern Transport Development Project funded by the Asian Development Bank. It outlines the process for payments to the consultant, including an advance payment upon opening a local bank account and providing a guarantee, monthly payments based on staff attendance and expenses, and a final payment upon approval of a final report and statement. Responsibilities are assigned for documentation and approval at each stage of the payment process.

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    Quality Assurance Plan Procedure MP 2.2 - Financial Management

    Uploaded by

    enfrspit
    32 views3 pages
    The document describes the quality assurance plan and financial management procedure for the Southern Transport Development Project funded by the Asian Development Bank. It outlines the process for payments to the consultant, including an advance payment upon opening a local bank account and providing a guarantee, monthly payments based on staff attendance and expenses, and a final payment upon approval of a final report and statement. Responsibilities are assigned for documentation and approval at each stage of the payment process.

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    MP 2.2 Financial Management

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    The document describes the quality assurance plan and financial management procedure for the Southern Transport Development Project funded by the Asian Development Bank. It outlines the process for payments to the consultant, including an advance payment upon opening a local bank account and providing a guarantee, monthly payments based on staff attendance and expenses, and a final payment upon approval of a final report and statement. Responsibilities are assigned for documentation and approval at each stage of the payment process.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    32 views3 pages

    Quality Assurance Plan Procedure MP 2.2 - Financial Management

    Uploaded by

    enfrspit
    The document describes the quality assurance plan and financial management procedure for the Southern Transport Development Project funded by the Asian Development Bank. It outlines the process for payments to the consultant, including an advance payment upon opening a local bank account and providing a guarantee, monthly payments based on staff attendance and expenses, and a final payment upon approval of a final report and statement. Responsibilities are assigned for documentation and approval at each stage of the payment process.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    of 3

    Project Southern Transport Development Project

    Funding Asian Development Bank


    Employer Road Development Authority

    Quality Assurance Plan


    Procedure MP 2.2 – Financial Management
    Revisions
    Index Date Modifications Prepared Checked Approved
    by by by
    0 02/09 Creation PS YTS GN
    1
    2
    3

    1 Objective of the procedure


    This procedure describes the arrangements for the management of the Consultancy Contract with a
    focus on the Consultant’s payment.

    2 Scope of the procedure


    This procedure is applicable to the services to be provided by the Consultant under its contract with
    RDA- Sri Lanka.

    3 Definitions and acronyms


    QAP: Quality Assurance Plan PA: Project Accountant
    MC: Management Consultant
    TL: Team Leader
    HD: Head of Department
    OM: Office Manager
    GC: General Conditions
    SS: Special Conditions

    4 Reference documents
    QAP
    Consultancy Services contract, including General Conditions, Clause 6: Payment to the Consultant
    and Special Conditions Clause 6.a,b,c,d.

    5 Description of the process


    The payments to be made to the Consultant for this time-based Contract, by the Client consist of 3
    types:
    - Advance payment
    - Monthly payments
    - Final payment

    N Procedure Documentation Responsibilities

    Date Name Type Code Version Page


    [20/08/2021] Financial Management MP 2.2 PM 2.1 0 1/3
    N Procedure Documentation Responsibilities

    Open a Local Bank Account; Ensure Validity


    1 of Bank Guarantee and Insurance PP 0 HD

    Provide to the Client an Advance Payment


    2 Guarantee TL
    No

    Approve the Guarantee


    3 CLIENT
    Yes

    CLIENT
    4 Proceed to Advance Payment

    Compile Consultant’s Staff and


    Subcontractors Attendance; PS 1.1 RE & PA
    5 Transportation; and Office Expenses

    Calculate on the basis of the above and M210 PA


    6 the advance recovery the sum of the Signed by TL
    monthly payment, in each currency, due
    to the Consultant, including VAT No

    Approve Monthly Invoice


    7 CLIENT
    Yes

    Proceed to Monthly Payment


    8 CLIENT

    Prepare Final Report and Final Financial


    9 Statement PP 6 TL

    Approve Final Report and Final Financial No


    1 Statement CLIENT
    0
    Yes

    Proceed to Final Payment CLIENT


    1
    1

    5.1 Open Bank Account and Contract a Bank guarantee (Step 1)


    The MC’s representative (TL or Country representative) is in charge of the opening of a local bank
    account for the part of payments in local currency.
    The TL shall then ask to the MC’s Head Office to get a Bank Guarantee pursuant to the consultancy
    contract, in order to get and advance payment.
    During the project, TL shall take care of adjusting the amount of the guarantee in accordance with the
    advance recovery.
    Finally, he shall close the Bank guarantee at the end of the period pursuant to the consultancy
    contract.

    Date Name Type Code Version Page


    [20/08/2021] Financial Management MP 2.2 PM 2.1 0 2/3
    5.2 Advance Payment to Consultant (Steps 1 to 3)
    The schedule and modalities of the Advance payment are specified in the Special Conditions of the
    Services Contract.
    The guarantee(s) shall remain effective until the Advance Payment has been fully set-off. The example
    form of the guarantee to be provided by the Consultant is usually given in an Appendix to the Services
    Contract.

    5.3 Monthly Payments (Clause GC 6.4.b & c.) (Steps 4 to 6)

    5.3.1 General
    Monthly payments consist generally of Remuneration (time-based) and Reimbursable Expenses
    (actual and reasonably incurred by the Consultant during the performance of the Services).
    They shall be usually paid by the Client within a period of 60 days upon receipt of the invoice by the
    Client. Consequences of delays in payment must be notified in the consultancy contract.

    For each different currency a separate invoice shall be submitted.


    The invoices shall be accompanied by time-sheets for remuneration items (approved by TL),
    invoices/vouchers and other documents proving reimbursable expenses at real costs.
    At the beginning of the project, the TL shall prepare a template of the Invoice Form which will be used
    for the whole project. He can ask for examples from the MC’s Head Office, or use format from his own
    experience. TL shall then attach a soft copy of the template to this procedure, with the title: “M210:
    Invoice to Client”.

    5.3.2 Internal Procedure


    The Project Accountant, with the assistance of the Office Manager, collects and stores all underlying
    documents for all Monthly Invoices from the RE. The monthly time sheets (Cf. form in Annex II) shall
    be signed by each individual professional staff for which a billing rate has been included in the
    contract. All sheets shall be transmitted for approval by the RE to the Team Leader.
    The Project Accountant prepares the Monthly Invoice and presents for approval to the Team Leader.

    The Consultant shall set up and keep updated a summary table of all invoices (dates and amounts in
    each currency) of the Consultant and resulting payments (dates and amounts in each currency) by the
    Client. This summary shall be reported in the Monthly Report.

    5.4 Final Payment (Clause GC 6.4.d) (Steps 7 to 9)


    This payment is made conditional and subject to submission by the Consultant of a Final Report and a
    final (financial) statement, specifically identified as such, which will have been approved as satisfactory
    by the Client.

    5.5 Review by the Client


    The Client will review the supporting documents provided with the Monthly Invoice and Final Payment
    Statement.
    Only such portion of a statement that is not satisfactorily supported may be withheld from payment.
    Should any discrepancy be found to exist between actual payment and costs authorised to be incurred
    by the Consultant, the Client may add or subtract the difference from any subsequent payments.

    5.6 Addendum
    Cf. Procedure PM 2.2: Management of Contract Changes

    6 Annexes
    Number Code Title
    Annex I M210 Invoice to Client Template

    Date Name Type Code Version Page


    [20/08/2021] Financial Management MP 2.2 PM 2.1 0 3/3

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