1、Heading * CORPORATION LIMITEDDIAR DUSHANBE PROJECT PHASE 1Ref No: SHY/DDP/PE1/12/143 Date: 24th November, 2012To: Mr. Sadettin Otluoglu Resident EngineerDAR Muhendislik Musavirlik A.S.AINI Street 24a “Markazai Tijori” CJSC “S.A.S”, 3rd FloorDushanbe, Tajikistan 734012Tel: +992(44)601 92 88RE: Contra
2、ct ID: 55002348 Construction of Diar Dushanbe Project - Phase1Subject: Alternative Proposal of Repayment of Advance Payment Our Ref.: Your Ref.: _Dear Sir,According to Sub-Clause 14.2(b) Advance Payment “the Advance Payment shall be repaid through percentage deductions in Payment Certificates” and t
3、he Percentages are stated in the Appendix to Tender as followings: 1. The advance payment shall be repaid at a rate equivalent to the percentage that the advance payment forms of the Contract Price viz. 10% of the Contract Price Against Bank Guarantee as per Sub-Clause 14.2, which applied as a deduc
4、tion from the gross value of interim payment certificates, or2. At such a rate that the total advance payment amount is repaid by the Contractor within the Time for Completion. Accordingly, we understand that there exist two options as follows:1) Option 1: 14.2 (a) “deductions shall commence in the
5、Payment Certificate in which the total of all certified interim payments (excluding the advance payment and deductions and repayment of retention) exceeds ten percent (10%) of the Accepted Amount less Provisional Sum and the Advance Payment shall be repaid at 10% of gross value of interim payment ce
6、rtificates.2) Option 2: Based on the point 2 as mentioned above “at such a rate that the total advance payment amount is repaid within the Time for Completion”, we propose the deductions shall commence by 40% of the Accepted Amount less Provisional Sum instead of 10% and 18% of gross value of IPC sh
7、all be repaid. The alternative proposal attached herewith shall be self-explanatory in this regard. Please evaluate our proposal and hopefully, Option 2 shall be positively considered in the best interests of the project progress. Yours faithfully,*Project Manager of * Corporation LimitedEnclosure: the alternative proposal on the basis of the estimate cash flowCC: Mr. Rakesh Pant, QD Project ManagerMr. Ahmet Ziya Akyil, IMS Project Manager
