The Cagayan de Oro Bulk Water Inc. (COBI) on Thursday welcomed the Cagayan de Oro Water District (COWD) intent to return to the negotiating table and craft a mutually agreeable settlement to their diverging claims.
As this developed, COBI urged COWD also to demonstrate good faith by updating its past due obligations and as part of its commitment to come to a successful negotiation.
“We believe a mutually beneficial resolution through discussion is the most effective way forward that will benefit not just both parties but, most especially, the consumers. In order to facilitate a productive negotiation, COBI requests that COWD formally engage with us through documented correspondence,” COBI said in a statement.
“We also firmly believe that the Local Water Utilities Administration is the perfect facilitator for the negotiation, as it is in line with its mandate as a regulatory body. Although several failed negotiations have been made in the past, we hope that the upcoming one will be different.
“By securing a proper quorum of representatives from both parties, we can work toward a truly amicable resolution for COBI and COWD.
“In addition, we respectfully remind COWD to update its payments, which we believe will demonstrate its good faith and commitment to a successful negotiation. COBI remains optimistic that a formal settlement agreement would result in a speedy and amicable resolution to this issue,” it said.
