Umm Al-Qura University

Umm Al-Qura University

Tasks of the Departments


- 2016/06/14

1- Bank Guarantees

2- Financial Records

3- Administration - Secretary - Communication.

 

Bank Guarantees Overview:

It is a guarantee for the acceptable implementation of a project and a commitment of implementation under the same guarantee.

Bank Guarantees Tasks:

The department is responsible for the durations of guarantees and extensions until delivery with a 5-percent retention. It deducts the collected payments from the contractor's bank guarantees amount. The guarantees are released after accomplishment of the project and receiving the complete amount of money. 

 

Financial Records Overview:

It is a register that records invoices filed to the entity in concern to receive its amount and work under its content.

Financial Records Tasks:

It is responsible for the financial record of every project, invoice amounts entry or increasing the contract value, and closing the fiscal year in the record. 

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