Freeport firms 'under attack' on bond letters

Thu, Jan 6th 2011, 10:00 PM

By NEIL HARTNELL

Tribune Business Editor

Freeport businesses have "grave concerns" and feel "under attack" over demands that they be in good-standing with the National Insurance Board (NIB) before their 'over-the-counter' bond letters are renewed, the Grand Bahama Chamber of Commerce's president yesterday telling Tribune Business that Customs was even ignoring payment arrangements worked out with NIB.

K. Peter Turnquest explained to this newspaper that even though Freeport companies may have worked out payments plans with NIB to bring their contributions current, unless their balance was zero and up-to-date, their bond letters were not being renewed for 2011.

"It ...

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