It's not just small companies that have problems getting paid on time,
small countries do too.
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| BAE system office in Edinburgh, UK |
Two years since BAE agreed to compensate Tanzania for the £30m air
traffic control system it sold the country, and a year since the deal was
rubber-stamped at Southwark Crown Court, the arms manufacturer is to pay up.
A question in the House of Commons by Labour MP Hugh Bayley has
revealed that BAE is to expected to sign a memorandum of understanding with the
Government of Tanzania this month about the £30m payment.
The full sum will become due 14 days after the document is signed.
The compensation deal has been dogged by political problems ever since
BAE agreed to pay it.
After being found guilty of false accounting the company set up a panel
to determine who should receive the money. Political pressure led BAE to
consult the Department for International Development to mediate the payment.
Signing the £29.5m cheque will bring to an end an unhappy period in
BAE's recent history.
Corruption probes on both sides of the Atlantic saw the
company pay fines of nearly £300m.
Serious Fraud Office director Richard Alderman welcomed the news saying
he was "looking forward to the speedy resolution of this matter".
Sources: The Telegraph,www.telegraph.co.uk, reported by Jonathan Russell
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