Thursday, January 27, 2022

TAIT reconfirms its commitment for helping its member to get payment through Arbitration

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TAIT (Trade Association of Information Technology) has been an association where members get meaningful and quantifiable benefits and has been a catalyst for the personal and professional growth of its members. The body has recently evolved a healthy eco-system by helping its members to get payment through arbitration.

The team TAIT enforces that the members do business with ethical practices and creates to be a vital link encompassing the Vendor-Distributor – Sub Distributor – reseller – SI. Post Lockdown of 2020, payment terms changed for good to a considerable extent. There were many instances of even defaults or debt turning Bad, due to dispute and various other aspects. This was a bit frequent in IT Trade.

TAIT being always on the forefront by handling challenges being faced by their members, always helping their members. TAIT has a grievance cell as well Arbitration Cell in place, which helps resolve disputes of various kinds and settle the matter, including helping to realize the payments from defaulters.

One of the respected TAIT Members, who had difficulty in getting their payment from a customer, approached TAIT. TAIT called both sides for initial counseling, where the matter could not be sorted out. Subsequently, the Member decided to file for Arbitration with the TAIT Panel to get justice.

Arbitration proceedings were initiated, and facts were heard by a panel of arbitrators of TAIT in all possible details and a decree was passed in due course, where the defaulter was asked to pay without any delay. Defaulter initially avoided paying on some or other pretext, but as time lapsed, he just refused to honor the decree. This was serious, and TAIT Member was determined to teach his Defaulting customer a lesson. He pursued it further and took it to Bombay High Court for attachment of Defaulting customer’s property on the strength of TAIT Arbitration Panel’s decree.

Persistence always brings desired results. Without stopping even during Pandemic and Long Lock Down, TAIT Member continued his efforts and finally got an Attachment order against Defaulting customers. TAIT is known for showing the way to others.

Speaking about the achievement, Mr. Samir Parekh, Director Immediate past President, TAIT says, “We at TAIT have been helping our team members but this was the first time that the high court judgment was given. It was really an outstanding accomplishment as it was extended the work schedule which ran up to 6 months keeping the Covid situation in mind. I would like to thank my 3 grievances committee members who were very actively involved in the entire process and have revealed patience and their dedication towards work. “

TAIT is proactive in maintaining business Hygiene across the market by TAIT Members, and also making sure that no Principal/Vendors/Brand Owners would ever hurt our Members by indulging in Unfair or Monopolistic Trade practices, Having well connected and enough representation in IT Trade across India.

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