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Report: Belize Bank to pay over $3.3M for abruptly ending business arrangement

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Report: Belize Bank to pay over $3.3M for abruptly ending business arrangement

Belize BankLtd. still has to pay Evergreen E-Pay Solutions Ltd. more than $3.3million for unexpectedly terminating a business deal with the U.S.-basede-merchant company, Amandalareported, citing Evergreen director Robert Allen.

In late 2015, the Belize Supreme Court ruled that BelizeBank wrongly ended a written but unsigned agreement with Evergreen related toInternet payment services and a referral program for prospective e-commercemerchants.

Although the agreement was unsigned, the court ruled that itwas legally binding based on the terminology and conduct of the two parties,the publication reported.