LAWSUIT

Greece to dish out $52M to SAIC to settle breach of contract charge

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.

Reader Comments

Please post your comments here. Comments are moderated, so they may not appear immediately after submitting. We will not post comments that we consider abusive or off-topic.

Please type the letters/numbers you see above

What is your e-mail address?

My e-mail address is:

Do you have a password?

Forgot your password? Click here
close

Trending

  • VIDEO: Explore the 2019 M&A Trends

    Editor Nick Wakeman interviews Kevin DeSanto of the investment bank KippsDeSanto about the highlights of their annual M&A survey and trends driving acquisitions in the federal space. Read More

  • PROJECT 38 PODCAST

    In our latest Project 38 Podcast, editor Nick Wakeman and senior staff writer Ross Wilkers discuss the major news events so far in 2019 and what major trends are on the horizon. Read More

contracts DB

Washington Technology Daily

Sign up for our newsletter.

Terms and Privacy Policy consent

I agree to this site's Privacy Policy.