Saudi MoF launches financial claims platform for private sector

It means that contractors and suppliers from the private sector can submit their financial claims directly to government agencies

  
Image used for illustrative purpose.

Image used for illustrative purpose.

Getty Images
 
RIYADH: The Saudi finance ministry has launched an online service to handle claims from contractors and suppliers.

The “Etimad” platform was established in partnership with the National Center for Government Resource Systems (NCGR), the Saudi News Agency reported.

It means that contractors and suppliers from the private sector can submit their financial claims directly to government agencies, CEO of the NCGR, Ahmed Alsuwaiyan, the CEO of NCGR said.

Major construction projects typically produce a number of contractual claims triggered by unanticipated circumstances, variations to original designs and a number of other factors caused by the client, contractor or both.

The finance ministry said this new platform would allow projects to be implemented in a transparent and efficient way.

It comes as the Saudi government encourages more private sector companies to get involved with major projects planned across the Kingdom.

Copyright: Arab News © 2021 All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Commercial