1. The advance payment to contractors of construction projects, provided for in Council of Ministers Resolution No. 23, dated 17/1/1428H, shall be 20% of the contract value in accordance with the period stated in the aforementioned Resolution for new projects concluded as of 1/1/1429H, against a bank guarantee equal to the amount of such payment. For ongoing projects under contracts concluded up to 30/12/1428H, the agency may disburse a payment of 20% of the value of the remaining works under the contract, against a bank guarantee equal to the amount of such payment.
2. The Contractor Financing Program, issued by Council of Ministers Resolution No. 47, dated 25/1/1394H, shall be put into effect, and a committee shall be formed comprising the Ministry of Finance, the Ministry of Economy and Planning, and the Ministry of Commerce and Industry to establish the necessary procedures and controls for financing.
3. Contractors shall be granted all the visas required to meet the labor needs of construction projects, as determined by the agency owning the project, taking into account the prescribed Saudization percentage and the available labor. The visas shall be issued within a period not exceeding 15 days.
4. The financial threshold for classification grades and the minimum threshold for work performed without classification shall be increased by 40%, provided that the Contractors Classification Agency reassess the same after three years.
5. The term of the bid bond shall be three Hijri months from the date specified for opening the bid envelopes, and the agency shall have the right to extend the term of such bond to complete the 90 day period provided for in the Government Tenders and Procurement Law.
6. The period from the date of the first announcement, whether in the Official Gazette or a local newspaper, until the deadline for the submission of bids must not be less than 30 days, and such period must not be less than 60 days for projects or works with estimated costs of one hundred million or more.
7. With respect to engineering consultancy services, it shall suffice to invite at least three consultancy firms, each to submit its bid within a period determined by the agency, and the awarding shall be in accordance with the provisions of Article 16 of the Government Tenders and Procurement Law.
8. Any bid the value of which is 35% below the estimates of the agency owning the project shall be excluded without referring back to the bidder.
9. The procedures provided for in paragraphs (3), (5), (6), (7), and (8) of these Rules shall remain in effect for a period of three years from the date of their entry into force.
10. Government agencies shall award contracts regardless of their value and, in the case of contracts exceeding three hundred million riyals, they shall submit them to the Prime Minister for notification upon awarding.
11. Government agencies shall expedite the procedures for reviewing the interim payment certificates submitted by the contractors executing the works and shall finalize them on a rolling basis for disbursement thereof, provided that the period for reviewing an interim payment certificate by the government agency, upon completion of the statutory documents, does not exceed 30 days.