Panama: Changes in Charges for Turnkey Projects

A government resolution states that if the state wants to defer payments to the contractor for the project, it may do so 60 days before the 90 days of presentation of the debt recovery.

Monday, March 9, 2015

From the order given by the Ministry of Economy and Finance of Panama, published in La Gaceta:

resolves:

"... FIRST: For the processing of the debt recovery, with respect to contracts under the turnkey format, either full or partial, and similar, executed by contracting entities through contractors using their own funds or by partial or total financing through the sale of loans to the transferee, with advanced notice given to the contractingentity the following must be complied with, as applicable:

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Key entities

Ministry of Economy and Finance (Panamá)

Countries

Panama

Insight

concession public consession consession models law law reform reforms contracts projects construction construction sector enforcing contracts turnkey projects State Purchases Local Law

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