Philippine government to settle arbitration case with SGS

The Philippine government will settle an arbitration case with Société Generale de Surveillance (SGS) SA of Switzerland, the Department of Finance confirmed on April 22. In a statement, Finance Undersecretary Gil Beltran said the Philippines will pay the Geneva-based goods inspector P6.2 billion in two equal installments in 2007 and 2008. The settlement amount is lower than the total SGS billings for services rendered from September 1998 to March 2000 amounting to 206 million Swiss francs or P8.5 billion, Beltran explained.

in Manila Times by Chino S. Leyco
April 23, 2008
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