Ulju-gun Receives High Praise from Companies for 'Contract Administration Improvement'

Benefits Provided: Simplified Contract Documents, Increased Advance Payment Limits, and Adjusted Bid Rates

Ulju-gun, Ulsan is receiving positive responses by significantly improving contract administration procedures to support local businesses struggling with economic downturn and high inflation.

On the 20th, Ulju-gun announced that it is promoting ‘contract administration that strengthens the local economy’ to provide practical benefits to local companies.

The main improvements include △simplification of contract documents △expansion of advance payment limits △adjustment of negotiated contract bid rates.

Ulju-gun reduced the administrative burden by simplifying the contract-related documents, which previously numbered 7 to 10 types, into a single ‘integrated pledge form.’ In addition, the advance payment limit was increased from 60% to 70% of the contract amount to improve companies’ cash flow.

The negotiated contract bid rate was also raised from a maximum of 95% to 97%, offering more favorable contract conditions. Along with this, Ulju-gun plans to implement further institutional improvements such as promoting paperless electronic contracts.

A representative from a company that actually signed a contract said, “With the simplified document procedures, contracts are processed quickly, improving work efficiency,” and added, “Especially, the expansion of advance payments greatly helped secure operating funds.”

An Ulju-gun official stated, “We will continuously discover practical support measures to help local businesses facing difficulties due to the economic downturn and to revitalize the local economy,” and said, “We will actively reflect the opinions of companies to further improve contract administration efficiently.”

Ulju County Office.

This content was produced with the assistance of AI translation services.