Greece to dish out $52M to SAIC to settle breach of contract charge
Greece is being ordered by an international arbitrator to pay SAIC $52 million related to a breach of contract over a command and control system that the company delivered for the 2004 Summer Olympics.
Greece has been ordered by an international arbitrator to pay Science Applications International Corp. more than $52 million in damages and fees for what the company alleges to be breach of contract, according to FedBiz Daily.
This comes a decade after the company won a contract to deliver a security system used at the 2004 Athens Summer Olympic Games. SAIC is petitioning the U.S. District Court for D.C. to confirm the award by the International Chamber of Commerce of $52.1 million, plus $162,500 in arbitration costs and interest, FedBiz Daily reported.
The decision comes after four years of arbitration, and has to do with a command, control, communications, coordination and integration system that Greece contracted SAIC to deliver, for use at the 2004 Summer Olympic Games and afterward. According to the company, Greece used the system for two years after the games, but failed for formerly declare ownership of it and pay SAIC, FedBiz Daily reported.