The E-Sylum:  Volume 9, Number 42, October 15, 2006, Article 19

PRINTER TO PAY FOR PHILIPPINE BANKNOTE TYPO

"The French company that misspelled the name of President Gloria
Macapagal Arroyo in 100-peso notes has reached an agreement with
the Bangko Sentral ng Pilipinas to shoulder a fourth of the printing
cost of the erroneous bills.

Documents show that the central bank and Francois Charles Oberthur
Fiduciare (Oberthur) negotiated the settlement on Feb. 2 this year.
The company printed Arrovo on the notes instead of Arroyo.

Oberthur agreed to recognize losses on the printing cost of 19.477
million pieces of 100-peso notes, or 25 percent of the total 77.9
million defective notes."

To read the complete article, see: Full Story

  Wayne Homren, Editor

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