Offset agreement Current Affairs, GK & News
20 % penalty for foreign military vendors not meeting offset obligations
The Ministry of Defence announced a penalty of 20 % to be imposed on foreign military vendors who are ubable to fulfill offsets obligation within the prescribed time frame as part of the Defence Procurement Procedure. · No cap on penalty for inability to implement offset obligations during the period exceeding the main procurement contract, ..
Month: Current Affairs - August, 2012
Topics: Business • Economy • Military acquisition • Offset agreement • Procurement • Supply chain management • Systems engineering