tet...delays, page-15

A couple of things

I would assume ECT would be intouch with Tincom daily, from memory Tincom might even have a representive in melbourne or were thinking of having an office space (speculative recollection of past statements) set up to help facilitate this deal locally.

Therefore even without the deposit, and based on the clarity of the relationship, progress on the feasibilty study should be still taking place i.e. preparing briefs and briefing consultants, finallising consultant fees and preparing contracts etc, so when the time comes everything is good to go. All of which costs nothing but time from ECT staff. Consultant time preparing fee subs at this stage is usually free and recovered once consulting starts.

So pre deposit there is upfront things that can be done and should have started. Consultants also usually dont require a down payment before they start works, and as Arup will be doing the bulk of the consulting as ECT's prefered partner so some things may have already started (potential contract purchase order from Tincom to start so to fast track prior to deposit).

So if management is up to task and we have a driven project manager, i would think we are underway and not just sitting and waiting for the cash to arrive before a start is made

Turkish