PAE PAOK issued a statement, giving answers and clarifications on the Memorandum of Understanding he proposed to Amateur.
According to the announcement, PAOK PAE gives clear answers to six questions about the Memorandum of Understanding it proposed to the PM.
PAOK’s announcement
“Necessary clarifications on the Memorandum of Understanding proposed by PAOK PAOK to AS PAOK…
1) There are financial guarantees in the Memorandum of Understanding submitted by PAOK PAOK to AS. PAOK?
Yes, they are foreseen. Article 2.4 states precisely as follows: “All the necessary financial guarantees for the construction of the project will be provided at the time of documentation of its total costing and in any case prior to the start of construction work”. That is, within the 12 -month period, the studies have been completed, the building permit will have been issued and, of course, the financial guarantees will have been given before work in Tuba will be given.
2) What are the essential requirements for the issuance of a letter of guarantee?
The letters of guarantee should be accompanied by a contract, which is detailed in the project to be implemented, its exact costs, its exact objects of work, the segmentation of the project construction, etc.
3) The letter of guarantee can be given by December 2025, as stated by AS. PAOK in its announcement?
No. And this is well known by the authors of the AS announcement. PAOK.
4) Why can’t it be given by December 2025?
Because we will not have the final and overall costing of the project until December 2025, nor will the other conditions for issuing a letter of guarantee will be covered, as the studies and final licenses, which are necessary for the commencement of the construction, will not have been completed.
When there is no accurate amount and accurate work object, a letter of guarantee can be issued.
5) Is it necessary to have the Memorandum of Understanding first signed?
Of course. Because the Memorandum defines the timetables (12 months for completion of studies and licensing, 3 years for construction), and specify the key axes of the agreement, which are subsequently specified by further contracts. It should be emphasized that PAOK PAE to initiate immediate actions for the final studies (for which it will pay several millions), but also for the final licensing, the written consent of the AS is needed. PAOK and its assistance to authorizations, certificates, documents, etc., so it is obvious that without the signing of the Memorandum there can be no action from now on.
6) Compensations are provided if the timetables are not respected, but also the other terms of the Memorandum.
Yes, they are foreseen. Article 2.3 explicitly states the compensation, which will be obliged to pay the culprit for the breach of the terms of the Memorandum.
All of the above, we leave it to the crisis of PAOK family members to know the whole truth. “