Bid bond has expired, EWI gets back its US$7.5M and Jamaica has nothing to hold unto !

We were supposed to have the US$37M performance bond before the expiration of the bid bond and the return of the US$7.5M bond to EWI. So EWI gets back its money and Jamaica is left with nothing but a letter to say money is in HSBC !

Great management !

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5 Responses

  1. Most persons appear to have missed this one and right now EWI has the handle !

  2. Help me Jay. Why would the GOJ return the Bid Bond and not call it, since EWI fail to live up to the contract terms?

    • This was what the OUR was trying to avoid, when they told the minister he needed to sign the original license.

      The performance bond was to have been in OUR hands before the expiration of the bid bond.

      Very sloppy on our part.

      Sent from my BlackBerry® wireless device from LIME.

  3. @ Wayne Jnr, I guess you now have your answer, Paulwell screw up cost us $750m !

    I hope you are now paying attention.

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