AL RAHBA – Progress & Payment Report (Bank)

This is a straightforward report of payments processed by the bank up to Invoice 5, plus the upcoming Invoice 6. Percentages refer to the contractor’s value, not the total project value.

Prepared: 2025-11-12 08:27

Project Value: AED 1,750,000.00

Contractor Value (our scope): AED 1,682,692.30

Payment	Progress (Current)	Progress (Cumulative)	Payment Amount	Retention	Retention (Cumulative)	Amount Released (Payment − Retention)
Invoice 1	35.0%	35.0%	AED 588,942.31	AED 233,894.24	AED 233,894.24	AED 355,048.07
Invoice 2	18.0%	53.0%	AED 302,884.61	AED 30,288.46	AED 264,182.70	AED 272,596.15
Invoice 3	10.0%	63.0%	AED 168,269.23	AED 16,826.92	AED 281,009.62	AED 151,442.31
Invoice 4	11.0%	74.0%	AED 185,096.15	AED 18,509.62	AED 299,519.24	AED 166,586.53
Invoice 5	14.0%	88.0%	AED 235,576.92	AED 23,557.69	AED 323,076.93	AED 212,019.23
Invoice 6 (Upcoming)	12.0%	100.0%	AED 201,923.08	AED 20,192.31	AED 343,269.24	AED 181,730.77
Total	—	—	AED 1,682,692.30	AED 343,269.24	AED 343,269.24	AED 1,339,423.06

Note: Total Project Value is AED 1,750,000.00, but the Contractor Value (our scope) is AED 1,682,692.30. So when we say “35% in Payment 1,” it means 35% of AED 1,682,692.30 (not of AED 1,750,000.00). The difference between the two totals is the consultancy portion handled outside our scope. Also, the retention on Invoice 1 is AED 233,894.24 (10% retention of the payment + a bank cash collateral of AED 175,000.00). The highlighted row is the upcoming Invoice 6 at 12%.