2. You are the Project Manager of a building construction project having the following contract terms and conditions: 1. Contractor: X Co LTD 2. Contract Price: MUR 14,000,000, excluding VAT 3. Award date : 10 October 2014 4. Contract Duration : 14 months 5. Advance Payment : 10% of Contract Price 6. Repayment of advance payment : in 10 equal installments as from month 2 of the Contract Period 7. Retention money on each payment certified : 10% You have been requested by the Finance Manager to prepare a cash flow forecast for the project with a view to seeking funds from the Ministry of Finance. Hints: - Advance payment is payable on the first month of the Contract - Retention money is not applicable on Advance Payment - Assume equal monthly payment to the Contractor - Assume Contract will end after 14 months( that is there is no extension of time) - Assume Contract is closed 12 months after completion of the works. - 50% of cumulative retention money payable 1 month after completion of works - The other 50% is payable one year after completion of works 2. You are the Project Manager of a building construction project having the following contract terms and conditions: 1. Contractor: X Co LTD 2. Contract Price: MUR 14,000,000, excluding VAT 3. Award date : 10 October 2014 4. Contract Duration : 14 months 5. Advance Payment : 10% of Contract Price 6. Repayment of advance payment : in 10 equal installments as from month 2 of the Contract Period 7. Retention money on each payment certified : 10% You have been requested by the Finance Manager to prepare a cash flow forecast for the project with a view to seeking funds from the Ministry of Finance. Hints: - Advance payment is payable on the first month of the Contract - Retention money is not applicable on Advance Payment - Assume equal monthly payment to the Contractor - Assume Contract will end after 14 months( that is there is no extension of time) - Assume Contract is closed 12 months after completion of the works. - 50% of cumulative retention money payable 1 month after completion of works - The other 50% is payable one year after completion of works