Friday, 13 December 2019

XXXVII, No 5, 04/03/2019

UAE: Tawazun’s new approach – remove mandatory outputs, simplify penalties, allow indirects

The Tawazun Economic Council is discarding a dusty economic mandate that has been the offset policy’s bedrock since 1992. Among the changes is the need for contractors to fulfil their obligations by generating profitable activities with a minimum level of input and output-based credits. Tawazun will also remove or simplify penalties for non-fulfilment, bank guarantees, and milestones…

 

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