The management of the National Oil Company of Liberia (NOCAL,) has announced that it has prevented a huge loss when the company retrieved US$163,000 United States Dollars, from a local vendor, who defaulted on the delivery of goods and services, which were to be procured, for the just ended National County Sports Meet.

NOCAL as part of its policy to promote Liberian owned business, under its local content and participation strategy, contracted the services of the Boima Folley Sports Center, following the PPCC guidelines to supply sports equipment and wears for the County Meet.

After all documentation of the guidelines were met, the vendor failed to provide the services even after the full payment was deposited into his account.