Riyadh-Property
\n The Riyadh Chamber of Commerce clarified that the decision of His Highness the Minister of Municipal and Rural Affairs regarding the solidarity of contractors in the implementation of government projects includes that if two or more contractors have solidarity in the implementation of a project, each of the solidarity must be classified in the field of implementing the project or at least one of them and the degree required for its implementation, and the degree of classification of any of the remaining solidarity must be the same degree required to implement the project or only one degree lower.
\nThe Riyadh Chamber stated in its circular to contractors that this mechanism will be implemented from the date of issuing the ministerial decision on the twentieth of last spring, calling on contractors to contact the Chamber's contracting department to respond to contractors' inquiries.
\nThe Ministry of Municipal and Rural Affairs has sought to update the executive regulations of the Contractor Classification System during the last two seasons with the aim of developing them, because the classification of contractors plays an effective role in supporting and accelerating the development process for the public and private sectors, when companies and institutions are prepared and qualified to enter public tenders, and to support the contracting sector to keep pace with the comprehensive development that the Kingdom is witnessing in all fields.
\nThe regulation is characterized by comprehensiveness, as it specifies the criteria and elements to evaluate all legal, financial, technical and administrative aspects on the basis of which the contractor is classified, and the documents and data that the contractor is required to submit when requesting classification.
\nThe regulation focused on qualitative quality by applying quality standards and excellence in performance and outputs to both Saudi contractors and non-Saudi investors, which reflects positively on the classification process and the contractor's performance.
\nThe regulation also contributes to encouraging mergers between contractors, as after the merger, the contractor has the right to retain the higher grades of the contractors who participated in the creation of a new company, or to request reclassification.
\nThe regulation aims to organize the work of the contractor by following the accounting, financial and organizational principles and attracting technical and administrative cadres so that the contractor works according to the principles of institutional work.<\/p>","protected":false},"excerpt":{"rendered":"
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