Dear Khun Wasin,
Slide 6 is conceptually wrong as the "Money Left" should be the same as the "Work Left" because:
(1) the 10% advance payment have already been paid to DADB and should still be in DADB's bank account.
(2) If they have been used to pay the sub contractors, then the "Work Left" should be reduced accordingly.
In either case, the "Money Left" should be the same as the "Work Left"
MSAG is the project manager and lead consultant. But DADB is now proposing that they become the project manager, etc - leaving us with duplicate appointment/payments and no main contractor and, effectively, many NSCs.
In addition, I need DADB to return the 10% advance payment back to HRB. I am also of the opinion that DADB cannot now try to breach its obligation to purchase the insurance and performance bond.
If DADB is unable to fulfill its obligations under the tender, I am prepared to grant DADB the option to get out of its obligations - PROVIDED we have not overpaid DADB and DADB return to us the 10% advanced payment (for work NOT done yet). We have run out of time. We need execution now. Please provide me with your decision.
Kind regards,
George Lee
My reply to Khun Wasin is attached for your info.