- Project scoping and definition: for each project there was a specific agreement on the scope of the work, which took into account the fact that freight, commuter and passenger trains share the same infrastructure and that no infrastructure is dedicated to GO Transit on CN's network.
- Contractual agreement on fixed price: CN prepared -- and GO Transit reviewed and formally approved -- a detailed estimate for each project that formed the basis for the committed fixed price under which CN agreed to deliver the project. Only once satisfied with the details and price did GO Transit provide CN with a purchase order allowing for the work to commence. Such fixed-price purchase orders were seldom varied, and only with the consent of GO Transit and CN.
- On-site construction monitoring: regularly throughout each project, joint CN and GO Transit field inspection took place to ensure that the work was executed as planned and quantities installed in accordance with the agreed-to project scope. A highly experienced consulting firm was also hired by GO Transit to help carry out the inspection work.
- Post-completion inspection and final payment -- upon completion, a joint inspection was done in the field to confirm that the work was to GO Transit's satisfaction. Final payment was made by GO Transit only after such inspection was completed.
CN Says Its Rail Infrastructure Construction Work For GO Transit Was Rigorously Reviewed, Rejects Unfounded Allegations Of Irregularities
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts