, No 21, Monday 07th November, 2016

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MAIN HEADLINES FROM THIS ISSUE:

  • DAPA declares war on commitment dodgers

    Korea’s DAPA will double the non-fulfilment penalty for some offset categories to 20 percent and will no longer accept corporate guarantees. Purchases under the FMS procedure may or may not require offsets but it is not entirely clear how contractors will know. DAPA will also change the credit banking provisions…..

  • Canadian complexities defended and (partially) explained

    Canada’s offset practices are an arcane mixture of industrial participation and regional obligations that together form an alphabet soup of government policies and administrative bodies. Training sessions provided at the GOCA conference by the Industrial Participation Association of Canada (IPAC) left many delegates struggling.

  • UAE: Tawazun introduces temporary ‘Get out of trouble’ option

    The Tawazun Economic Council has introduced an Accelerated Project Funding option that permits defence contractors to buy themselves out of a percentage of their obligations. Obligors will be rewarded with a multiplier of 6 for cash payments.

  • SSM to loosen up on bank guarantees

    Turkey’s SSM is planning to relax the bank guarantee provisions. The provisions refer to deliveries under the supply contract and for the concomitant 6 percent offset fulfilment requirement – because delayed supply deliveries result in a knock-on effect on offset performance.

  • Thai rice barter lands $800m fine on former premier

    The Thai Prime Minister, under powers he awarded himself after the coup, has signed an administrative order seeking 35.7bn baht ($800m) in compensation from former Prime Minister Yingluck Shinawatra. The former premier must pay for her role in a rice subsidy policy concerning bilateral barter agreements that led to huge losses…..

AND LOT'S MORE...

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