Call for safeguards against firms failing to pay their bills

Thu, Feb 3rd 2011, 06:08 AM

A $250,000 loss incurred by a leading engineering company has sparked the principal of the firm to call for more safeguards for local businesses.
It’s important, said head of Islands By Design (IBD) Keith Bishop, for Bahamian businesses to be protected from companies they render services
to which are unable to pay their bills. The frequency of these occurrences, he said, counters the intent of foreign direct investment (FDI) in
increasing opportunities for local businesses.
“I fly all around The Bahamas and you see countless failed developments,” he told Guardian Business yesterday. “There is some level of due diligence of course, but if a guy comes in and flatt ...

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