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The COWD has refused to acknowledge the amount, representing the increase in COBI rates that year, because of a force majeure provision in their contract vis-a-vis the crisis caused by the COVID-19 pandemic during the period. Lawyer Roberto Rodrigo, senior legal counsel for Metro Pacific Water, said the COWD needs to provide an acceptable explanation of how exactly the pandemic affected it to the point that it could not comply with its contractual obligations.
The water district also raised concerns about alleged inaccuracies in the water rate adjustment during the meeting, pointing out discrepancies between its calculation using the parametric formula stated in the contract and COBI’s computation. Young said that the figures did not match. Nevertheless, both parties agreed to submit their positions during their next meeting to determine the correct price difference.
Source: Loan Digest (loandigest.net)
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