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2.A. Budgeting and Payment Procedures for All other Types of Contracts

Bölgesel Rekabet Edebilirlik Operasyonel Programı’nın Uygulanması için Kurumsal Kapasitenin Oluşturulmasına Yönelik Teknik Yardım Technical Assistance on Institutional Building for the Implementation of RCOP in Turkey . 2.A. Budgeting and Payment Procedures for All other Types of Contracts .

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2.A. Budgeting and Payment Procedures for All other Types of Contracts

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  1. Bölgesel Rekabet Edebilirlik Operasyonel Programı’nın Uygulanması için Kurumsal Kapasitenin Oluşturulmasına Yönelik Teknik Yardım Technical Assistance on Institutional Building for the Implementation of RCOP in Turkey 2.A. Budgeting and Payment Procedures for All other Types of Contracts This project is co-financed by the European Union and the Republic of Turkey

  2. Contents This project is co-financed by the European Union and the Republic of Turkey A. Budgeting and Payment Procedures for Global Price Service, FWC, Supply and Works contracts

  3. Global Price Service Payments (1) This project is co-financed by the European Union and the Republic of Turkey • Pre-financing:Maximum 60% of the contract value • Within 45 days from the date of invoice/request of payment • Required Documents: • Signed contract • Request for payment • Financial guarantee (for the full amount of the pre-financing payment) if the pre-financing amount exceeds €150 000, the guarantee remains valid until the final payment has been made

  4. Global Price Service Payments (2) This project is co-financed by the European Union and the Republic of Turkey • Balance Payment:Maximum 40% of the contract • value if pre-financing payment has been made (Art. 3 • Special Conditions) • Within 45 days of approval of the final progress report by the end recipient and the Contracting Authority and receipt of all relevant documents (invoice/request, etc.) • Required Documents: • Final progress report approved by end recipient and Contracting Authority • Final invoice/request • Final statement

  5. Framework (fee based) Payments (FWC)(1) This project is co-financed by the European Union and the Republic of Turkey Fee based Service Contracts Under 200.000 Euros up to 199.999 Euros!!

  6. Framework (fee based) Payments (FWC)(2) This project is co-financed by the European Union and the Republic of Turkey • Pre-financing:Maximum 60% of the contract value • Within 45 days from the date of invoice/request of payment • Required Documents: • Invoice/Request for advance • Signed/initialled Financial offer • Initialled Specific ToRs and methodology (if any) • Financial guarantee if the amount of the advance is higher than € 150 000

  7. Framework (fee based) Payments (FWC)(3) This project is co-financed by the European Union and the Republic of Turkey Interim Payments In principle no interim payments are foreseen. However, if requested by the Framework Contractor, an interim payment may be foreseen if there is an extension of at least 6 months

  8. Framework (fee based) Payments (FWC)(4) This project is co-financed by the European Union and the Republic of Turkey • Interim payments(incase of an addendum) • As per the contract’s addendum • Within 45 days of receipt of the invoice/request • Required Documents • Countersigned addendum to the contract • Invoice/Request for interim • Signed/initialled Financial offer • Initialled Specific ToRs • Financial guarantee if amount of payment is higher than € 150 000

  9. Framework (fee based) Payments (FWC)(5) This project is co-financed by the European Union and the Republic of Turkey • Balance Payment: Up to 40% of the contract value, if an • advance pre-financing payment has been made. • Within 45 days of receipt of the invoice/request • Required Documents: • Invoice/Request for final payment • Supporting documents for invoiced costs (Original supporting documents for fee-based contracts) • Copies of or extracts from timesheets • Copy of the approved final report • End recipient certificate (“good for payment” granted by the recipient).

  10. This project is co-financed by the European Union and the Republic of Turkey Budgeting and cost estimation for works and supplies contracts

  11. Phases of cost estimation This project is co-financed by the European Union and the Republic of Turkey PhasePurpose 1. Planning Determine Project Feasibility Compare Alternatives and conceptual design Costs benchmarks and Comparison costs similar projects 2. Preliminary Design Refine conceptual design Draft Bill of Quantities (BoQ) 3. Final technical designRefine Bill of Quantities (BoQ) Compare to Contract Bids Get most realistic and accurate estimates in the planning phase

  12. Example Bill of Quantities This project is co-financed by the European Union and the Republic of Turkey

  13. Investment cost breakdown This project is co-financed by the European Union and the Republic of Turkey

  14. Supply Payments- PRAG (1) This project is co-financed by the European Union and the Republic of Turkey • Pre-financing: Maximum 60% of the contract price against provision of the • performance guarantee (kati teminat mektubu) up to %10 of the contract • price • Within 45 days from the date on which an admissible payment request is registered by the competent department specified in the Special Conditions. The payment request shall not be admissible if one or more essential requirements are not met. • If the pre-financing payment exceeds € 150 000, the Contractor must • provide a financial guarantee for the full amount of the pre-financing • payment. Financial guarantee must remain valid until it is released 45 days • at the latest after the provisional acceptance of the goods (geçici kabul)

  15. Supply Payments- PRAG (2) This project is co-financed by the European Union and the Republic of Turkey • Requested Documents: • Invoice/request for payment • Original of signed contract • Original of performance guarantee (for the amount specified in the contract, in any case no more than 10% of the amount of the contract price). • Original of pre-financing guarantee for the full pre-financing amount, if applicable • Copy of insurance policy if required (see Special conditions, article 12)

  16. Supply Payments- PRAG (3) This project is co-financed by the European Union and the Republic of Turkey • Balance Payment: 40% of the contract price following provisional acceptance and/or final acceptance of the supplies. • Where only part of the supplies have been delivered, the 40% payment shall be calculated on the value of the supplies which have actually been accepted and the guarantee shall be released accordingly • 45 days from the date on which an admissible payment request is registered by the competent department specified in the Special Conditions. The payment request shall not be admissible if one or more essential requirements are not met.

  17. Supply Payments- PRAG (4) This project is co-financed by the European Union and the Republic of Turkey • Required Documents • Invoice • Provisional and/or final acceptance certificate • Original guarantees • Originals of certificates of origin of the supplies • Copy of inspection test certificate( if applicable)(teftiş raporu) • Copy of warranty (if applicable)(üretim firması garantisi)

  18. Supply Payments- PRAG (5) This project is co-financed by the European Union and the Republic of Turkey • VERY IMPORTANT-Rule of Origin! • All goods supplied must satisfy the rule that they originate in EITHER a member state OR in one of the beneficiary countries as stated in the invitation to tender • The supplier shall present an official Certificate of Origin on provisional acceptance. Failure to comply with this obligation shall lead rejection of the payment for items

  19. Supply Payments- PRAG (6) This project is co-financed by the European Union and the Republic of Turkey Non Performance Penalty: If the Supplier fails under his own responsibility to deliver any or all of the goods within time limit specified in the contract, the Contracting Authority shall, without formal notice be entitled for every day which shall elapse between the expiry of the implementation period and actual date of completition, to liquidated damages equal to 5/1000 of the value of the undelivered supplies to a maximum of %15 of the total value of the contract. If the non-delivery of any of the goods prevents the normal use of the supplies as a whole, the liquidated danages shall be calculated on the basis of the total contract value.

  20. Works Payments – FIDIC (1) This project is co-financed by the European Union and the Republic of Turkey • Pre-financing: • Varies per individual contract. Shall be stated in the Special conditions, yet total amount of pre-financing, shall not exceed: • 10% of the original contract price for the lump-sum advance referred to in Art. 44.1(a) of GC [lump sum advance enabling the Contractor to meet expenditure resulting from the commencement of the contract] • 20% of the contract price for all the other pre- financing referred to in Article 44.1(b) of GC [if the Contractor affords proof of the conclusion of a contract for the purchase or order of materials, plant, equipment, machines and tools necessary for the execution of the contract, and of any other substantial prior expenses such as the acquisition of patents or study costs.]

  21. Works Payments – FIDIC (2) This project is co-financed by the European Union and the Republic of Turkey Required Documents • Invoice/request for payment • Original of signed contract • Performance guarantee which shall be valid and enforceable until the Contractor has executed and completed the Works and remedied any defects • Original of pre-financing guarantee for the full pre-financing amount. The guarantee shall be valid and enforceable until the pre-financing has been completely repaid by the Contractor out of interim payments under the contract. • Copy of insurance required as stated in art. 14 of GC and/or in the Special conditions- Within 45 days of receipt of the request for payment and all relevant documents

  22. Works Payments – FIDIC (3) This project is co-financed by the European Union and the Republic of Turkey Interim Payments:Varies per individual contract Required Documents • Contractor’s Invoice • Performance Guarantee (if no Advance payment) • Interim Payment Certificate (IPC) issued by the Engineer determining the amount which the Engineer fairly determines to be due, based on Contractor’s Interim Statement together with supporting documents, including report on progress during this month • Originals of certificates of origin of the goods and materials used • Copy of inspection test certificate if applicable • Original of provisional or partial provisional acceptance certificate

  23. Works Payments – FIDIC (4) This project is co-financed by the European Union and the Republic of Turkey • Within 45 days of receipt of the requestfor payment and all • relevant documents • NOTES: • The interim payment certificates may include corrections or • modifications to any previous certificate.

  24. Works Payments – FIDIC (5) This project is co-financed by the European Union and the Republic of Turkey • Balance Payment: varies per individual contract • Within 45 days of receipt of the request for payment and all relevant documents • DOCUMENTS REQUIRED ARE IMPORTANT!

  25. Works Payments – FIDIC (6) This project is co-financed by the European Union and the Republic of Turkey Required Documents: • Invoice/request for final payment • Contractor’s Final Statement • Final Payment Certificate issued by the Engineer, based on Contractor’s draft final statement together with the supporting documents • Copy of the Performance Certificate issued by the Engineer to the Contractor on completion of the Contractor’s obligations under the Contract (within 28 days after the latest of the expiry dates of the Defects Notification Periods, or as soon thereafter as the Contractor has supplied all the Contractor’s Documents and completed and tested all the Works, including remedying any defects) 5.Copy of inspection test certificate if applicable 6.Original Retention guarantee, if applicable

  26. TYPICAL SEQUENCE OF PAYMENT EVENTS FIDIC Contractor submits statement to Engineer Engineer issues Interim Payment Certificate Employer makes the payment to the Contractor <56d INTERIM PAYMENTS <28d Engineer verifies the statement, Contractor submits information FINAL PAYMENT <56d <28d Contractor submits draft final statement to Engineer Engineer issues Final Payment Certificate Employer makes payment Contractor submits Final Statement and the discharge

  27. SUMMARY FIDIC RULES OF PAYMENT This project is co-financed by the European Union and the Republic of Turkey • Advance Payment (Contractor) • Submits Performance Guarantee to the Employer within 28 days from receiving Letter of Acceptance (or signing of Contract) • Submits Advance Payment Guarantee • Submits Application for Interim Payment Certificate No. 1 (advance payment)

  28. SUMMARY FIDIC RULES OF PAYMENT This project is co-financed by the European Union and the Republic of Turkey • Advance Payment (Engineer) • Receives copies and checks appropriateness of Performance Guarante and Advance Payment Guarantee • Issues Interim Payment Certificate No. 1 (advance payment) • The Employer receives and approves Performance Guarantee & informs the Engineer accordingly, • Effects payment of Interim Payment Certificate No.1 (advance payment)

  29. SUMMARY FIDIC RULES OF PAYMENT This project is co-financed by the European Union and the Republic of Turkey Interim Payment Certificates The Contractor submits Application for Interim Payment Certificate to the Engineer with all supporting particulars, as specified in the Contract. The Engineer scrutinises with due diligence and issues Interim Payment Certificate within 28 days, or notifies the Contractor about possible defects as soon as practical. The Employer reviews and effects payment within 56 days (from the date when the Engineer received the application) as certified or notifies the Engineer about possible defects as soon as practical.

  30. SUMMARY FIDIC RULES OF PAYMENT This project is co-financed by the European Union and the Republic of Turkey • Final Payment • Within 56 days after receiving the Performance Certificate the Contractor submits to the Engineer six copies of a draft final statement with supporting documents showing in detail: • The value of all work done in accordance with the Contract • Any further sums which the Contractor considers to be due under the Contract or otherwise.

  31. SUMMARY FIDIC RULES OF PAYMENT This project is co-financed by the European Union and the Republic of Turkey • The Contractor submits to the Engineer such further information as the Engineer may reasonably require and makes the changes to the draft as may be agreed with them. • The Contractor prepares and submits to the Engineer the final statement as agreed. This agreed statement is referred to as the “Final Account”.

  32. SUMMARY FIDIC RULES OF PAYMENT This project is co-financed by the European Union and the Republic of Turkey • Final Payment Certificate: Within 28 days after receiving the Final Statement and written discharge the Engineer issues to the Employer the Final Payment Certificate, which shall state: The amount which is finally due After giving credit to the Employer for all amounts previously paid and all sums to which the Employer is entitled, the balance due from the Employer to the Contractor or the Contractor to the Employer, as the case may be The Employer pays the Contractor the amount certified in the Final Payment Certificate within 56 days after the Employer receivesthe certificate

  33. This project is co-financed by the European Union and the Republic of Turkey Thank you!

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