Commercial lawContract lawConstruction lawCurrency law
Keywords
Fuel station constructionFinal certificateCurrency conversionPerformance bondExchange rateLocking value
Tags
Construction contractCurrency conversionFinal accountService station construction
legislation
Statutes Cited
Public Procurement and Disposal of Assets Act
ai analysis
Case Summary
Key Issues
{"issue_text":"Whether defendant is liable in the sum and currency claimed","issue_type":"mixed","dispositive":"yes","related_facts":"Agreed letter of 15 Nov 2021 fixing USD amount"}
{"issue_text":"Whether plaintiff’s claim is based on the approved sum by PRAZ","issue_type":"law","dispositive":"no","related_facts":"Contract varied to USD 2 812 622.24 with PRAZ approval"}
{"issue_text":"Whether \"locking value\" principle affords a cause of action","issue_type":"law","dispositive":"no","related_facts":"Parties agreed to preserve USD value"}
{"issue_text":"Costs of suit","issue_type":"procedural","dispositive":"no","related_facts":"Plaintiff substantially successful"}
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background
Facts of the Case
Background
The plaintiff contractor completed construction of a fuel station for the defendant and claimed payment of USD 255 626.09 comprising the final account balance and unreleased performance bond. The defendant admitted liability but disputed the currency and amount, arguing that post-SI 33/2019 certificates were in Zimbabwean dollars and that the final figure required PRAZ approval.
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