Contractors suggest late payment bonds
Jul 06, 2005
Contracting authorities should give performance bonds against late payments, contractors have said.<br>They also said there are excessive bid bond requirements by some local authorities, citing sh300m for a 12km road in Kamwenge.
By Vision Reporter
Contracting authorities should give performance bonds against late payments, contractors have said.
They also said there are excessive bid bond requirements by some local authorities, citing sh300m for a 12km road in Kamwenge.
This was during the annual meeting of the Uganda National Association of Building and Civil Engineering Contractors at Hotel Africana in Kampala recently.
“We are required to give performance bonds when we take tenders. Can the Government also give us performance bonds to ensure prompt payment when we complete the tenders?†engineer Nicholas Byengoma, the managing director of Nicontra, asked.
Contracting authorities should give performance bonds against late payments, contractors have said.
They also said there are excessive bid bond requirements by some local authorities, citing sh300m for a 12km road in Kamwenge.
This was during the annual meeting of the Uganda National Association of Building and Civil Engineering Contractors at Hotel Africana in Kampala recently.
“We are required to give performance bonds when we take tenders. Can the Government also give us performance bonds to ensure prompt payment when we complete the tenders?†engineer Nicholas Byengoma, the managing director of Nicontra, asked.