Leaked documents reveal details of an agreement between Bumtari and the Turkish “SCK” company
Leaked documents obtained by Sada Economic Newspaper reveal a contract signed between the GNA’s Finance Minister Faraj Bumtari and the Turkish “SCK” company which, according to the agreement, undertook the tasks of establishing and managing an electronic system and providing data as well as statistics for all goods supplied to Libya. In other words, it became the first responsible for monitoring and controling all the libyan goods.
The Turkish company will reap great financial benefits, as the Government of National Accord allows the company to deduct 70% of the total revenues in the first 4 years, provided that it deducts 60% of the total revenues for the remaining 3 years in the contract, and also allows it to establish a headquarters in Libya to practice its activity.
- ECTN Document Fee according to the leaked documents: £125 per ECTN
- Tariff per the mode of shipment:
Full Container Load (FCL) –> £20/£100- £40/£150.
Rolling Stock: £100 per vehicle (less than 5t U.W.), £150 per vehicle (as from 5t U.W.).
Consolidation: £5, -WM (with £50, -minimum per ECTN, from all origins).
Bulk complete vessel: £5, WM (with £50, -minimum per ECTN, from all origins).
Conventional/ Bulk: £5, -WM (with £50, -minimum per ECTN, from all origins).
According to the documents, the first part may, without objection from the second party, request the termination of the contract if the company loses the legal capacity or issuance of final convictions against it. In the event that the contract is terminated by the first part without any negligence or default from the second party, this will be considered an unfair termination of the contract and therefore the first party will pay a fine to the second party estimated as follows:
Three months of the total revenue of the second party, according to the platform, prior to the date of the notice of termination of the contract multiplied by 4. Or a deduction value equal to £2,000,000,00 (Two million euros). The higher value will be paid, and this value will be paid within 14 days of the request being sent by the second party in writing a letter or from the company’s official email.
