Contigent asset
This query is : Resolved
21 April 2020
Hi,
can one clarify me.
Our Company collected a performance BG from the sub-contractor and the sub-contractor seems to fail to comply his obligation. Hence we may invoke the BG next year. In this case can we disclose the performance BG value as contigent asset in Directors report
Please advise
can one clarify me.
Our Company collected a performance BG from the sub-contractor and the sub-contractor seems to fail to comply his obligation. Hence we may invoke the BG next year. In this case can we disclose the performance BG value as contigent asset in Directors report
Please advise
21 April 2020
Yes, disclose in the Directors Report of the company.
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