Firms settle dispute, strengthen ties for improved partnership

Following the dispute arising from a contract issued by Clarke Energy Nigeria Limited to Raw Media Limited to supply corporate diaries, both companies have since reached an amicable resolution, and have strengthened ties for an improved partnership.
 
The dispute, which the firms affirmed was caused by gaps in communications by both parties, had Raw Media petitioned Clarke Energy Limited over refusal to pay up the balance of about N2.37 million on job executed, and published in The Guardian Newspapers and online platforms.
 
In a joint statement/retraction issued by the two companies in respect of the article, the amicable settlement of the dispute arising from the contract represented a more accurate account of what transpired between the parties in respect of the contract.

In the statement signed by the Managing Director of Clarke Energy, Yiannis Tsantilas and Director, Raw Media, Rotimi Wusu, The Guardian gathered that in November 2019, Clarke Energy issued a purchase order to Raw Media to supply 1,000 diaries to it for the price of N3,950,000.   
 
Raw Media Limited was required to supply the diaries on or before 31 December 2019, and Clarke Energy immediately paid 40 per cent of the agreed price to Raw Media as agreed.  
 
However, in response to challenges encountered by Raw Media in performing the contract, the parties agreed on a new delivery date partial delivery on/or before December 31 and the balance on/or before January 15, 2020.
 
Clarke Energy on the basis of the agreement reversed its decision to terminate the contract and demanded the return of the 40 per cent advance payment already made to Raw Media in the interest of its business relationship with Raw Media.