If a company in the construction sector wants to sue the state for breach of contract it must deposit the equivalent of 20% of the value of the claim.
The measure which comes into effect this year is set out in Article 278 of the recently enacted Public Finance Ordinance, Control of Exemptions and Evasion Measures, and indicates that the deposit must be equal to 20% of the value of the claim and must be made before the legal process is started.
A joint housing project between a bank and the Chamber of Construction will be carried out in Tegucigalpa, Honduras.
The president of the National Agricultural Development Bank (Banadesa), Johnny Handal, and vice president of the Honduran Chamber of Construction Industry (Chico), Oscar Calona signed off on a program for building popular housing.
The project will benefit families earning less than four minimum wages, and will start with almost a thousand houses in Tegucigalpa, which are to be financed with funds that will be raised by Banadesa’s Private Contributions Regime (PAR), the newspaper La Tribuna reported on its website.