No reason given for payment delay

Press, 15 January 1982, Page 2

No reason given for payment delay

PA Wellington Meat trade officials are still declining to say why there were long delays in payments for meat bought by Iran. Letters of credit authorising payment of the last $43 million of the $250 million contract for lamb shipments last year are now in the pipeline. Exporters are expecting payment to come through within a matter of days. Several shipments had been held up since October because the money had not come through. Payment in the next few days follows up the arrival in New Zealand of documents taken to Argentina by the chairman’ of the Meat Marketing Corporation, Mr Brian Freeman. The documents had to be signed by an Iranian veterinarian who had been in New Zealand when the stock was killed. Mr Freeman said yesterday that the documents were not the real cause of delays in payment. “There were many reasons for the hold-up. We have not discussed them with anyone and we don’t intend to,” Mr Freeman said. “It is normal business and no company puts its business in the press. Already there has been a lot of publicity about this. “The problem has been solved and we are now look-' ing forward to the new season.” „ Mr Freeman said the Iran meat trade was just another' commercial deal and that 7 was the way exporters wanted to keep it.