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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=: info@shadeco.com
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
,