Contracts for the construction works / Payments Sample Clauses

Contracts for the construction works / Payments. The lessee as the representative of the joint owners, takes the full responsibility for the choice of the companies which shall be in charge of the construction works and provision of services. Only companies which hold adequate certificates of professional qualification ( O.P.Q.C.B. / Qualibat ) and covered by a ten years civil liability insurance policy shall be accepted. The lessee shall sign the contracts related to the works to be carried out as well as the agreements related to services to be provided. The lessee shall send a copy of the following documents to ALSABAIL about each company and service provider: — the accepted contract ( or tender ) or agreement — the descriptive/quantitative specifications or the cost estimate (with the exception of service providers ) — the certificate of ten years civil liability insurance valid on the date of starting of the works (unless the lessee personally subscribes such an insurance ) In case these documents are not supplied to ALSABAIL in due time, the invoices sent by these companies to ALSABAIL shall not be settled. The invoices shall be made out at the name of the joint owners ALSABAIL/CIAL FINANCE/ FRUCTICOMI and shall be sent to ALSABAIL in three copies ALSABAIL will pay the invoices directly to the companies, on behalf of the joint owners. However, before payment, the lessee and the Project manager will have duly signed for approval the different invoices. The total amount of the invoices shall not be in excess of the amount of the lease purchase as mentioned in Article II of the present agreement and which includes the price of the land which is € 1,590,933 ( + VAT ). Any invoice or statement sent to ALSABAIL and which do not bear the signature for acceptance of the lessee and the project manager shall not be settled by ALSABAIL. These will be sent back to the lessee. In the event of the lessee having paid invoices or statements directly to the contractors or service providers, ALSABAIL shall reimburse the money to the lessee on behalf of the joint owners. This shall be done upon presentation of a summarized invoice together with copies of the different invoices.
Sample 1
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Related to Contracts for the construction works / Payments

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