1. Fund management.
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1.Project funds shall be managed by the owner or the owner's representative and disbursed to the contractor as contractually agreed.
2.The contractor shall provide a performance bond to the owner in accordance with the provisions of the contract.
3.The contractor shall bear all costs during the implementation of the project, including but not limited to labor costs, material costs, equipment costs, insurance premiums, etc.
2. Management of the use of funds.
1.The Contractor shall use the project funds in accordance with the provisions of the contract and shall not misappropriate, misuse or unauthorized use.
2.The contractor shall establish a sound financial management system to ensure the transparency and legitimacy of project funds.
3.The contractor shall provide the project financial statements to the owner on a regular basis and accept the audit and supervision of the owner.
4.If there is a need to change the use of project funds, the contractor shall apply to the owner in advance and obtain the consent of the owner before proceeding.
3. Capital risk management.
1.The contractor shall conduct comprehensive risk management of project funds and establish a sound risk management system to ensure the smooth implementation of the project.
2.The contractor should conduct and assess the risks that may arise and develop countermeasures in advance to minimize the risk loss.
3.The contractor should strengthen communication and coordination with the owner, solve the problems and contradictions in the project implementation process in a timely manner, and ensure the smooth progress of the project.
4.The contractor shall strengthen the quality and safety management of the project to ensure that the quality of the project meets the requirements and avoid financial losses and disputes caused by quality problems.
Fourth, the security management of funds.
1.The contractor shall establish a sound fund security management system to ensure the integrity and safety of project funds.
2.The Contractor shall take the necessary security measures to prevent theft, misappropriation, or misuse of project funds.
3.The contractor shall strengthen the supervision and management of project funds to ensure the legality and compliance of project funds.
4.If there is a security problem with the project funds, the contractor should report it to the owner in a timely manner and take effective measures to solve the problem.
5. Fund settlement management.
1.After the completion of the project, the contractor shall provide the owner with complete settlement information and settlement application, and settle in accordance with the provisions of the contract.
2.The owner shall review and confirm the settlement information submitted by the contractor to ensure the accuracy and compliance of the settlement.
3.If there is a dispute between the two parties on the settlement, it shall be resolved through friendly negotiation or arbitration.
4.After the project settlement is completed, the contractor shall provide the final project financial statements and settlement report to the owner in accordance with the provisions of the contract.
6. Other precautions.
1.The contractor shall comply with relevant national and local laws and regulations to ensure the legality and standardization of project funds.
2.The contractor shall strengthen financial management and accounting to ensure the accuracy and completeness of project funds.
3.The contractor should establish a good cooperative relationship with the owner to jointly promote the smooth progress of the project.