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{
    "id": 461248,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/461248/?format=api",
    "text_counter": 191,
    "type": "speech",
    "speaker_name": "Hon. Ichung’wah",
    "speaker_title": "",
    "speaker": {
        "id": 1835,
        "legal_name": "Anthony Kimani Ichung'Wah",
        "slug": "anthony-kimani-ichungwah"
    },
    "content": "Hon. Speaker, Sir, we also note that the conspiracy, as the Chairman has said, went beyond the institution itself. It touched on commercial banks and in this case two particular commercial banks. A bank issues a bid bond to a company to bid for Government business worth close to US 1 million. It gives a bid bond on condition that this company will provide an irrevocable Letter of Credit for that bid bond to stand. That irrevocable Letter of Credit was never and has never been supplied to the bank. However, the bank did not have the morality and the ethical standing to inform the procuring entity that the bid bond they had given was conditional and the condition had not been fulfilled. Therefore, the bid bond they were giving was, in fact, void"
}