The Ministry of Defense of Ukraine wins international arbitration for almost UAH 19 million
Kyiv • UNN
The International Court of Arbitration has awarded the Ministry of Defense of Ukraine over USD 491,000 after foreign suppliers breached contracts by failing to meet deadlines for delivering goods to the Ukrainian military.
The International Arbitration Court has issued two awards ordering the recovery of funds totaling more than $491,000 (over UAH 19 million) from foreign business entities in favor of the Ministry of Defense of Ukraine. This was reported by the press service of the Ministry of Defense of Ukraine, according to UNN.
Details
According to the concluded foreign economic contracts for the purchase of materiel, the Ministry of Defense fully fulfilled its obligations and paid the cost of the goods on time. However, foreign suppliers violated the delivery terms.
In this regard, the Ministry of Defense applied to international arbitration to recover the penalties. The arbitration upheld the claim.
The ministry emphasizes that the Ministry of Defense monitors the fulfillment of obligations by suppliers to ensure that the Ukrainian army receives all types of services provided by the ministry on time.
Recall
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