• Today
    November 16

  • 08:40 AM

IDB bans American company

PR/SHAWN CUMBERBATCH,

Added 21 August 2018

inter-american-development-bank-logo

An American company involved in Inter-American Development Bank (IDB) projects in Barbados has been slapped with a four year ban by the financier.

The bank today announced the debarment of GL Systems LLC and said the decision was “in connection with allegations of prohibited practices in three IDB-financed activities” − the Programme for the Modernisation of Customs, Excise and VAT Areas in Barbados; the Barbados Competitiveness Programme and an IDB corporate procurement contract.

Under the IDB’s rules, debarred firms “are declared ineligible to be awarded and participate in any IDB-financed contract for the periods indicated”, in this case four years.

“This is the IDB’s first debarment resulting from a Negotiated Resolution Agreement, which was negotiated and entered into by the IDB’s Office of Institutional Integrity, in accordance with the IDB Group’s Sanctions Procedures,” the IDB said.

“GL Systems entered into the Settlement Agreement on behalf of itself and the custom software product lines of the business formerly known as GreenLine Systems, Inc. and A-T Solutions, Inc.”

The IDB said the Settlement Agreement “provides for a reduced period of debarment in light of GL Systems’ cooperation, including an internal investigation conducted on its behalf”.

It added: “Under the terms of the Settlement Agreement, GL Systems commits to retain an independent third-party consultant in order to analyse its compliance programme and identify any gaps with internationally recognised standards, and to address any existing deficiency.”

It also said the debarment “may be extended to seven years if GL Systems fails to comply with this commitment or other terms of the settlement”.

The IDB also explained that the ban instituted on GL Systems “qualifies for cross-debarment by other multilateral development banks under the Agreement for Mutual Enforcement of Debarment Decisions that was signed on April 9, 2010”. (PR/SC)

JOIN THE DISCUSSION

Dos and Donts


Welcome to our discussion forum here on nationnews.com. We encourage lively debate, but we also urge you to take note of the following:

  • Stay on topic – This helps keep the thread focused on the discussion at hand. If you would like to discuss another topic, look for a relevant article.
  • Be respectful – Meeting differences of opinion with civil discussion encourages multiple perspectives and a positive commenting environment.
  • Do not type in capitals – In addition to being considered “shouting” it is also difficult to read.
  • All comments will be moderated – Given the volume of comments each day, this may take some time. So please be patient.
  • We reserve the right to remove comments – Comments that we find to be abusive, spam, libellous, hateful, off-topic or harassing may be removed.
  • Reproduction of comments – Some of your comments may be reproduced on the website or in our daily newspapers. We will use the handle, not your email address.
  • Do not advertise – Please contact our Advertising Department.
  • Contact our Online Editor if you have questions or concerns.
  • Read our full Commenting Policy and Terms of Use.
comments powered by Disqus

POLL

Do you think that fees at commercial banks have increased too much?

Yes
No

FRONT COVER OF TODAY'S NEWSPAPER

CARTOON

INSTAGRAM