General News
NOCAL Retrieves US$163,000 From Vendor
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- Details
- Published on Tuesday, 05 February 2013 06:55
- Written by The News
...After Alleged Default On Goods And Services
The management of the National Oil Company of Liberia (NOCAL) says it has prevented a huge loss when the company retrieved US$163,000 from a local vendor, who allegedly defaulted on the delivery of goods and services.
According to a NOCAL press release signed by its Vice President, Israel Akinsanya, the goods and services were to be procured for the just ended National County Sports Meet.
NOCAL said as part of its policy to promote Liberian owned businesses, under its local content and participation strategy, contracted the services of the Boima Folley Sports Center, following the PPCC guidelines to supply sports equipment and wears for the County Meet.
The oil company indicated that after all documentations of the guidelines were met, the vendor failed to provide the services even after the full payment was deposited into his account.
