The government of Ghana has abruptly suspended its contract with Power Distribution Services (PDS) Ghana Limited. This is because of breaches in the company’s obligations to provide the Demand Guarantees.
According to reliable sources, this was made public in a press release by the ministry of information. The
A demand guarantee is a type of protection that one party in a transaction can impose on another party in the event that the second party does not perform according to predefined specifications.
In the event that the second party does not perform as promised, the first party will receive a predefined amount of compensation by the guarantor, which the second party will be required to repay
See letter below: