Saudi approves amended regulations of contractors classification law

Minister of Municipal, Rural Affairs, and Housing, Majed Al-Hogail, approved amendments to the executive regulations of the contractors classification law, the official gazette Umm Al-Qura reported on Jan. 5.

The classification certificate is issued electronically, and the entities that own the projects should verify the validity of the certificate submitted through the ministry’s website.

The fields, activities, and degrees of classification will be determined, amended, and updated under a decision from the minister.

The classification will be made for the following activities, building and construction; operation, maintenance, and services; communications and information technology; nutrition and subsistence; exhibitions and conferences, and real estate development.

The contractor’s classification certificate is issued based on the available information, data, and evaluation points. A two-year certificate will be accordingly granted to the applicant.

The contractor should have the necessary documents that prove the validity of the statement of financial position and the income statement for the last year.