Headquarters Parking Canopies Construction Contract
- Value
- 2,950,000Excluding VAT
- Term
- 6 months2026-10-01 – 2027-03-311448-04-20 – 1448-10-23 AH
- Owner
- Saad Al-MutairiReal Estate & Facilities Manager
- Signature & renewal
- Advanced via NafathDoes not renew
- Draft2026-08-04
- Review2026-08-08
- Rejected2026-08-07
- Signing
- Active
- Expiring
- Renew or end
Not in force — the contract was never fully signed
Next step
Rejected in the approval route
See the reason in the Approvals tab, revise the draft and resubmit.
- Legal AffairsNoura Al-Qahtani
- FinanceKhalid Al-Otaibi
2 open tasks
Waqqa AI assistant
Executive summary
A proposed contract with Modern Building Contracting to supply and install parking canopies at headquarters for SAR 2,950,000 over 6 months. The CFO rejected it at approval: the price is 31% above the average competing bid, the contractor is not verified through Wathq, and no bank guarantee was offered.
Summarised from 17 pages — check the source before relying on it.
Automated suggestion — a human makes the final call
Key terms
Extracted by the AI from the text — each value linked to its clause
- CounterpartyModern Building Contracting Company
- Total valueSAR 2,950,000 excl. VAT
- Term6 months: 1 October 2026 to 31 March 2027
- Payment terms10% advance, monthly progress claims by completion, 10% retention
- Liability capCapped at 100% of value; delay penalty 0.1%/day up to 10%
- Renewal & noticeDoes not renew — ends on its end date
- Governing law & disputesSaudi law — Commercial Courts, Riyadh
Risks
Commercial registration not verified through Wathq
We have not yet confirmed the CR is valid or that the signatory is authorised for the entity.
HighVariation orders without a clear ceiling
Clause 5.4 lets the value rise by up to 15% without the owner’s prior approval.
Critical
Key dates
Draft created
2026-08-0421 Safar 1448 AH71 days ago
Effective date
2026-10-0120 Rabiʻ II 1448 AH13 days ago
- Next up
Next payment — 10% advance
2026-10-154 Jumada I 1448 AHTomorrow
End date
2027-03-3123 Shawwal 1448 AHin 168 days
Related
Visible to the owning department and Legal