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 The government of Saudi Arabia confirms its commitment to pay the Private sector its dues on time

The Saudi Arabia’ Ministry of Finance (MoF) confirmed that payments to the private sector are on track and up to date. 99% of properly submitted payment orders received by MoF have being paid within the 60 days previously announced. The remaining less than 1% were not paid due to court orders. Of the 99% paid within 60 days, 97% were indeed paid within 30 days.
There are a small percentage of disputed amounts claimed by certain vendors and contractors which are subject to an agreed dispute resolution mechanism as per the contracts. These vendors and contractors have the right to resort to such contractual dispute resolution mechanism to resolve the dispute.

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Last Update : 1/21/2019 5:51 PM