Kuwait circular implements law on disclosure of commissions in government contracting
Article Abstract:
The Kuwait Audit Bureau has released Circular No. 1 of 1996 on Nov. 16 to serve as a guide in the implementation of Law No. 25 of 1996 which necessitates the disclosure of commissions related with government contracts. The law is applicable for all government entities, the Municipality of Kuwait, public authorities and establishments, and government-owned entities. All of those affected are to submit a list of all contracts before the effective date of the law, to include details regarding compliance with the law, and to give the Audit Bureau a copy of the complaint if it has been violated.
Publication Name: Middle East Executive Reports
Subject: Economics
ISSN: 0271-0498
Year: 1996
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Law on disclosure of commissions offered for government contracts
Article Abstract:
Law No. 25 of 1996, also known as Disclosure of Commissions Offered for Contracts Concluded by the Government, was issued on Aug. 11, 1996 and published in the Official Gazette in Aug. 18, 1996. Its provisions are stated in seven articles and these include the government authorities involved, the types of contracts covered, the definition of the payor and the recipient, the sanctions, and the government officials who are to carry out and implement the law.
Publication Name: Middle East Executive Reports
Subject: Economics
ISSN: 0271-0498
Year: 1996
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Kuwait passes law on disclosure of commissions in government contracting
Article Abstract:
Kuwait's Law No. 25 of 1996 demands the disclosure of commissions on government contracts. Under the law, the contracting party must reveal who gives or promises to give the commission, to whom has it been promised/given, how much and for what. However, it contains several ambiguities involving the form of commission, sanctions for non-compliance, specification of parties and its broad coverage for military contracts.
Publication Name: Middle East Executive Reports
Subject: Economics
ISSN: 0271-0498
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
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