I think you'll find they don't pay for work in advance. They simply have to guarantee the givt that they will do the work, hence Bank Guarantees or Letters of Credit. The work when performed will have to be paid for direct to the contractors. At some point in the future when the govt is satisfied that the work program is complete, then the LC should be released, but these things often take up time. These bank guarantees or LCs are tough on small companies as they have to often be backed by cash. Biiger companies can use assetts to support a bank guarantee.
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