US EditionCourt orders Stanbic Bank to pay Sh25m over 1-day bond error in KPA tender - Nairobi Business Monthly
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Court orders Stanbic Bank to pay Sh25m over 1-day bond error in KPA tender - Nairobi Business Monthly
The Court of Appeal has delivered a significant ruling, ordering Stanbic Bank Kenya to compensate logistics firm Kenya Haulage Agency Ltd (KHA) Sh25 million for negligence arising from a critical error in a tender security bond that cost the firm a lucrative Kenya Ports Authority (KPA) contract. The dispute originated from a 2018 tender where KHA sought to supply KPA with ribbed-type pneumatic rubber fenders, a crucial port equipment. To secure …
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