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GB Energy, Texaco dealers reach compensation settlement

Published:Tuesday | January 21, 2014 | 9:34 AM

Jerome Reynolds, Staff Reporter



KINGSTON, Jamaica:

Texaco dealers and the local operator of the brand, GB Energy, have reached a settlement on compensatory payments for the dealers.




President of the Jamaica Gasolene Retailers Association Derrick Thompson says the agreement was reached following discussions on the matter.



Thompson, however, has declined to provide details on the amount to be paid.



However, he says the dealers are satisfied with the sum.



The JGRA says the association is grateful that the matter has now been resolved.



The compensatory payments are being made to three former Texaco dealers whose contracts were not renewed.



Its understood that their lease agreements were not renewed because the businesses were sold.



The JGRA had maintained the dealers deserved goodwill payments given their years of service to Texaco.



Disagreements over the matter led to two days of strike action by Texaco dealers earlier this month.



According to Thompson, GB has sent letters to the other 25 dealers indicating that their contracts will be renewed.



He says the dealers expect to receive the new contracts shortly after which the parties will hold discussion to finalise the details.



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