Important Reminder
Compared to the previous regulations, Article 103 of the new ACR (pursuant to Decision No. 600-2024) introduces a fundamental change in the method of releasing the advance payment to the contractor. Accordingly, the 15% advance payment has been divided into three parts and is paid to the contractor in stages as follows:
- 5% of the total value of the contract to be released to the contractor upon the official site handover.
- 5% of the total value of the contract upon approval of the construction time schedule by the project owner or by the appointed consulting office.
- 5% of the total value of the contract upon completion of the temporary facilities at the jobsite (contractor's site office, warehouse, workshop, etc ).
Viable Solution: Because each instalment demands specific guarantees and missing any milestone suspends subsequent payments, a practical approach is to apply for the advance payment only after successfully completing all three stages.
Below is the link to the English translation of ACR 600-2024 (Google Drive):
Note: The available English translation is provisional and intended for informational purposes only; it may not completely reflect the source text with precision. A finalized version is currently being prepared for upload. Should you require an official, accurate translation of particular Articles, please contact me, and I will fulfill your request expeditiously.
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