ZAGREB, Dec 6 (Hina) - The Economy Ministry issued a statement on Wednesday saying that on December 4 it had cancelled the sales contract with the company 'In-Cubo d.o.o.' from Osijek on the purchase and export of 160,000 tonnes of
wheat, to which the company was entitled under the contract. The reason for cancelling the contract is the company's failure to fulfil its contractual obligations, particularly as regards the payment of the entire amount of the agreed advance payment by August 18 2000. As the agreed amount was not paid in full and the payment deadline was extended on several occasions, the last deadline being November 7 2000, the contract was cancelled, the statement said.(hina) rml
ZAGREB, Dec 6 (Hina) - The Economy Ministry issued a statement on
Wednesday saying that on December 4 it had cancelled the sales
contract with the company 'In-Cubo d.o.o.' from Osijek on the
purchase and export of 160,000 tonnes of wheat, to which the company
was entitled under the contract.
The reason for cancelling the contract is the company's failure to
fulfil its contractual obligations, particularly as regards the
payment of the entire amount of the agreed advance payment by August
18 2000.
As the agreed amount was not paid in full and the payment deadline
was extended on several occasions, the last deadline being November
7 2000, the contract was cancelled, the statement said.
(hina) rml