Office fit-out, Level 12 Bay View Tower Glass needed by 6 Oct

TS-26-014Gulf Horizon PropertiesPM Arun Kumar10 Aug → 30 Oct 2026LPO GHP/LPO/2026/0418

Next bill: IPA-03 on 25 Oct — work to 80%, AED 86,126.25 incl. VAT. The draft is built from schedule progress. The progress report and site photos attach automatically, so Studio Arc can certify before month end.

Prepare IPA-03 Check progress

VO-03 (AED 12,750) cannot be billed until Gulf Horizon signs it. Sent 29 Sep, no reply in 3 days. If it is signed by 20 Oct it can go into IPA-03. Open variations

Contract value
AED404,600
386,000 + VO-02 18,600
VO-03 12,750 pending

Billed to date

AED230,900

57% of contract · IPA-01 + IPA-02, excl. VAT

Received

AED137,030

Advance + IPA-01, excl. VAT

143,881.50 incl. VAT · 2 payments

Outstanding

AED104,679.75

Certified 30 Sepdue 30 Oct

INV-TS-26-0087 · not overdue

Billing stages

10% advance · monthly IPAs · 5% retention · paid 30 days after certification

All invoices

Advance 10%12 Aug · paid 20 Aug
IPA-01 · to 30%31 Aug · paid 24 Sep
3IPA-02 · to 55%certified 30 Sep
4IPA-03 · to 80%draft · 25 Oct
5Final accountafter handover
6Retention releaseend of 12-month DLP

Still to bill173,700

Advance to recover17,370

Retention held11,545

Avg days to pay24

Invoices on this project

3 issued + IPA-03 draft · AED, tax invoices to 2 decimals

Invoices

Invoice	Issued	Amount	Less advance	Less retention	VAT 5%	Total	Status
INV-TS-26-0071 · Advance 10%Recovered at 10% of each IPA	12 Aug	38,600.00	—	—	1,930.00	40,530.00	Paid 20 Aug
INV-TS-26-0079 · IPA-01Work to date 30% of 386,000	31 Aug	115,800.00	−11,580.00	−5,790.00	4,921.50	103,351.50	Paid 24 Sep
INV-TS-26-0087 · IPA-02To 55% (96,500) + VO-02 (18,600)	25 Sep	115,100.00	−9,650.00	−5,755.00	4,984.75	104,679.75	Certified · due 30 Oct
IPA-03 · draftTo 80% · this period 96,500 · planned 25 Oct	—	96,500.00	−9,650.00	−4,825.00	4,101.25	86,126.25	Draft
Issued so far (3)		269,500.00	−21,230.00	−11,545.00	11,836.25	248,561.25

Every invoice carries the TRN, project code, client LPO and IPA number · e-invoice ready (PINT-AE).

Where the billed AED 230,900 stands

Work billed in IPA-01 and IPA-02, excl. VAT

Received in cash 43%Set off against advance 9%Retention held 5%Outstanding 43%

Received — IPA-01 net98,430
Set off against the advance (IPA-01 + IPA-02)21,230
Retention held by Gulf Horizon11,545
Outstanding — IPA-02 net, due 30 Oct99,695
Billed to dateAED 230,900

Payments received

Into Emirates NBD ••4521 · matched automatically

Payments

IPA-01 · INV-TS-26-0079
24 SepBank transfer24 days after certification

103,351.50Matched
Advance · INV-TS-26-0071
20 AugBank transfer8 days after invoice

40,530.00Matched

AED 143,881.50 received incl. VAT Gulf Horizon statement

Still to collect

Until retention is released · incl. VAT

Cash flow

IPA-02 · INV-TS-26-0087
Certified 30 Sepin the 30-day cash forecast

104,679.7530 Oct
IPA-03 · to 80%
Bill 25 Octpaid about 30 days after certification

86,126.25≈ 30 Nov
Final account · last 20%
77,200 less advance 7,720 and retention 3,860

68,901.00≈ Dec
Retention release · 5% of 404,600
After the 12-month defects liability period

21,241.50Oct 2027

AED 280,948.50 to collect · plus VO-03 if signed

IPA-02 certification

From submission to payment · Studio Arc Interiors certifies

Invoice

Submitted with progress report and 18 photos
25 Sep · Arun Kumar · auto-attached from the schedule
Joint measurement on site
28 Sep · Vignesh Raman with Studio Arc · 55% agreed
Certified — AED 104,679.75
30 Sep · Studio Arc Interiors · payment certificate IPC-02
Gulf Horizon accounts confirmed the payment run
1 Oct · Reem Saleh · run on 28 Oct
Payment due 30 Oct
Friendly reminder goes out automatically on 27 Oct (e-mail + WhatsApp)

Contract summary

Client LPO GHP/LPO/2026/0418 · 4 Aug

Original contract (Q-TS-26-044 Rev 3)386,000
VO-02 approved 18 Sep+18,600
Revised contractAED 404,600
VO-03 submitted 29 Sep12,750
If VO-03 is approved417,350

Billed 230,900 of 404,60057%

Still to bill AED 173,700: IPA-03 96,500 + final account 77,200.

Advance & retention

Money the client holds back or has paid ahead

Advance recovered

21,230 of 38,600

55%

10% off each IPA: IPA-01 11,580 · IPA-02 9,650. Balance 17,370 — IPA-03 recovers 9,650 and the final account 7,720.

Retention held

11,545 grows to 20,230

57%

5% of every claim: IPA-01 5,790 · IPA-02 5,755. Released in one amount when the 12-month defects liability period ends, invoiced automatically — like TS-26-008's AED 4,800 this week.

IPA-03 preview

Draft from the schedule · work to 80%

Work to date 80%308,800.00
Less previously certified−212,300.00
This period96,500.00
Advance recovery 10%−9,650.00
Retention 5%−4,825.00
Net82,025.00
VAT 5%4,101.25
TotalAED 86,126.25

VO-03 not included — pending client Prepare