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=:
[email protected] 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 ,