Implementing Regulation of the Government Tenders and Procurement System

Release Date:	1441-03-21
Release Tool:	Ministerial decision
Issuance Instrument Number:	1242
Validity:	Valid
Date of last amendment:	1448-03-29
Summary:	By AI The financial regulation addresses the provisions related to guarantees concerning government contracts in the Kingdom of Saudi Arabia, where government entities may increase the percentage of the final guarantee and extend it in cases of delay. It is required that the advance payment guarantee be equal to its value, and the contractor bears the responsibility of reviewing the engineering designs. The regulation also requires the execution of contracts in good faith and the maintenance of record...

Release Date:

1441-03-21

Release Tool:

Ministerial decision

Issuance Instrument Number:

1242

Validity:

Valid

Date of last amendment:

1448-03-29

Summary:

By AI

The financial regulation addresses the provisions related to guarantees concerning government contracts in the Kingdom of Saudi Arabia, where government entities may increase the percentage of the final guarantee and extend it in cases of delay. It is required that the advance payment guarantee be equal to its value, and the contractor bears the responsibility of reviewing the engineering designs. The regulation also requires the execution of contracts in good faith and the maintenance of record...