According to the tender process, once a main contractor is agreed upon,a formal contract is implemented between the parties agreed upon by signing the same in the form of a document. This document will make both the parties aware of what each one’s responsibilities are.
CWC works along with the all key stakeholders of its customers to form the initial contract on the basis of the customer’s requirements terms.
On the start of the construction phase in the contract, CWC will ensure that both the parties in the contract would comply with regulations laid along with proper audit trial, if required in the future
The detailed forecast of the estimated payments will be done by CWC to keep the control over the cash flows. A detailedcash flow document will be prepared and a payment schedule of real –time valuations would be published periodically, so that finished work is only paid for. Differences in the actual and the estimated cash flow are recorded.
Once we receive the approval for valuation done, CWC will release a valuation certificate to the contractor for the invoice to be generated. The process of cash flow is closely monitored for both the parties to be assured of the what is agreed has been published in the valuation certificate.
Irrespective of the complexity of a project or the scale of operation, we are constantly refining our systems and processes to provide control, governance and transparency from inception to completion. All our decision are made on the premise of the most efficient and cost-effective outcome.We always adopt a value-driven strategy to define and articulate project objectives, before identifying the most effective means to deliver.