Published: 2023-04-23 14:22
A Chinese power company bid for a project in a South Asian country worth about RMB 500 million, with funding provided by the Asian Development Bank (ADB) to the owner side. After winning the bid, the owner abruptly terminated the last cooperation project between the two parties and confiscated the performance guarantee of the Chinese enterprise. Affected by bilateral relations and the CONVID-19 epidemic outbreak, as well as additional verbal requests from the owner side, the project could no longer be implemented. The Chinese enterprise intended to defend its rights against the owner side through litigation, while having difficulty in applying to ADB for the return of the bid guarantee (the relevant staff member was a South Asian employee and could not be contacted).
