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.  

 
Raw Media, however, failed to deliver the diaries on December 31, 2019, and January 15, 2020; but subsequently delivered the diaries to Clarke Energy on 15 February 2020.
 
The Guardian gathered that the delay in delivery of the diaries caused inconvenience and embarrassment to Clarke Energy Nigeria, which made Raw Media to offer an unreserved apology to former and the company’s Managing Director, Yiannis Tsantilas, for taking such action, and the inaccuracy of the comments made in the article.
 
“Notwithstanding efforts made by both parties, further discussions and meetings failed to happen, and due to the outbreak of COVID-19 and the obvious financial pressure the pandemic brought to all businesses, emotion took over, hence, the unfortunate and unnecessary approach to the press”, the statement explained.

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