IFICC 877/B/2016

This case involved a contract to supply cooking oil where there had been a delay in issuing the letter of credit. A key point was that guidelines for executing government contracts had not been followed.

Background

A Lebanese food company filed a case before the First Instance Commercial Court against a General Company Trading in Food Materials claiming that the two had signed a contract to provide the latter with cooking oil worth 10,750,000 USD but the general company had violated the contract and delayed the letter of a credit despite warnings therefore the Lebanese company had filed the claim to revoke the contract and request the general company to pay costs and lawyers' fees.