TÜDEMSAŞ Will Give Advance in Construction Works with Goods and Service Purchases

TÜDEMSAŞ Purchasing Goods and Services to Give Advances in with Works: Turkey Railway Machines Industry Corporation (TÜDEMSAŞ) The procedures to be applied in the General Directorate of purchasing goods and services and works in advance making processes and edited principles.

The regulation regarding the advance payments of TÜDEMSAŞ was published in the Official Gazette and entered into force.
Accordingly, whether or not the advance will be given, the conditions and amount will be specified in the administrative specification and the contract.
After signing of the contract, the advances given on the written request of the contractor shall be paid in the same amount as the advance and the final guarantee letter, in accordance with the scope and form determined by the Public Procurement Authority and in advance of the documents issued instead of the Government Domestic Borrowing Bills issued by the Undersecretariat of Treasury.
Contractors will be able to advance up to 30 percent of the loading amount. In cases where an advance is required above this rate, an advance will be granted for the portion exceeding with the decision of the board of directors at a rate not to exceed 50 percent of the loading amount, provided that interest is charged over the interest rate applied by the Central Bank to the advance transactions.
The contractor will not be able to make any extension, compensation or similar claims in any way due to the reason that the advance is not given on time.
The administration will always be authorized to cut off the undue deducted advance or balance from the first claim following the disruption of the business program, and to cash the advance collateral in case of insufficient or no progress payment.
The rate of advance deduction will be higher than the rate of advance payment. The deduction shall be made by deducting the advance allowance rate from each vesting amount calculated on the basis of the contract value and the advance deposit shall be refunded to the amount deducted.
If there is no advance balance at the end of the deduction transactions, this amount will be completely deducted from the last temporary allowance regardless of the advance offsetting rate. If the amount of vest is not enough, the advance payment will be offset by cash if the difference is not paid by the contractor in cash during the 30 day.
In the event of liquidation of the work, the contractor will have to pay the advance balance in cash within 30 days after the date of the liquidation acceptance. If no payment is made at the end of this period, the advance balance will be deducted and the advance balance will be deducted. The advance cannot be transferred or transferred to others in any way. Advance collaterals cannot be confiscated and no precautionary measure can be imposed.
The provisions of the Public Procurement Law No. 4734 and the Public Procurement Contracts Law No. 4735 and the relevant tender documents shall be applied for the advance payments regarding the procurement of services and works.