World Surveillance Group Inc (fka WSGI)

[SAMdashada]

pokestake -- you posted --

"Also, I'm reading that Globetel has paid, late maybe, but paid. That's another old one. Collect early and pay late"

poke, contracts don't run that way. The contract is an agreement that things will be done in a specific way at specific times. Once one party deviates from the agreement the other party has the right to declare the contract as having been breached and demanding whatever remedies as have been stated in the agreement. If you are to pay every 2 weeks but choose to pay on weeks 3 and 6 then you have breached the agreement. Having paid the monies does not rectify the fact that the agreement was not met. See contract paragraph below:


The Consulting Agreement required GlobeTel to compensate my client at the sum of $45,000 per month, beginning February 28, 2007 (or $22,500 every two weeks). The Consulting Agreement further provides that “f GlobeTel fails to make the monthly payment within the timeframe defined under this paragraph (or every two weeks), Altvater will not be responsible for providing services under this contract to GlobeTel. If GlobeTel fails to make two consecutive payments to Altvater, the contract will be deemed terminated and Altvater will be granted 150% of the monies due for services rendered payable in test equipment or inventory . . . .” The Consulting Agreement furthers provides that “n such event, test equipment and inventory shall be transferred to Altvater free of all liens and encumbrances.”