A new insurance to safeguard title to lands where title cannot be established due to shortcomings in deeds or destruction of relevant documents has been launched by the National Insurance Corporation Ltd.
"Jathika Ranbima Title Insurance was launched at a ceremony presided over by Deputy Finance Minister G.L. Peiris at the BMICH on May 10.
A Corporation spokesman said this new Insurance Scheme will come handy to land owners in case where are deficiencies in the transfer deeds, destruction of title deeds and documents or plan, by enabling them to enhance their title. It will also help guarantee title to unpartitioned, or mortgaged land or intestate estate. Lands insured under the Ranbima Title deed scheme can be mortgaged to a Bank or any other financial institution for purposes of obtaining a loan facility. This Insurance policy can also be produced as document of title in the event of a sale of a land.
The scheme does not entail premium payments at regular intervals unlike life insurance. Only a once and for all premium has to be paid at the time of obtaining the Insurance policy.
When this policy is obtained for mortgaging a land for the purpose of obtaining a loan the policy will be valid until such time the loan is repaid in full.
The spokesman said a Jathika Ranbima Title Insurance Policy can be obtained for a land irrespective of its extent. It can also be obtained for any type of land such as residential, business or agricultural land. All immovable property including buildings and vegetation situated on the land are also covered by this policy, he added.
The Sunday Times Celltel Business Club celebrated its first anniversary on April 30 at the Amethyst Ballroom of the Colombo Hilton amidst an impressive gathering of its loyal members. It was an evening filled with excitement, laughter and serious gamesmanship.
The club was launched with the aim of providing an opportunity for young men and women from various professions to interact and share information while at the same time develop useful business and management skills. However the club had been inactive for sometime due to unavoidable circumstances. But at this first meeting, after the pause, it was evident that the enthusiasm of members to get together had not flagged.
The sponsors are determined to take the club to ever greater heights and have planned a series of exciting events for the club's second year.
Despite an early hiccup caused by the members' adherence to that age-old Sri Lankan custom of being late for anything and everything, the event got to a fine start and everything went tickety-boo. The ceremony began with the welcome address given by Mr. Lakshman Kannangara, Editor 'Sunday Times Business'.
While reiterating the fact that the business club was very much alive despite having been unable to hold a gathering for sometime, he assured the members present that in the future the club would have regular and frequent meetings. He made special mention of the support extended to the club by the Hilton and expressed the hope that such encouragement would be forthcoming in the future too.
The highlight of the evening was a competition aptly titled "Enhancing Your Negotiating Skills". Ms. Sashi Fernando, the Assistant Manager Marketing, Communications and Public Relations of Celltel, who explained the rules of the competition to members called upon the participants to take part in it seriously. She maintained that it would need a lot of negotiating skills to win and also promised prizes for the winners.
The members who divided themselves into 8 groups lost no time in getting started. The whole venue took on the appearance of a busy day at the stock exchange with so many yuppies roaming and running into each other and shouting in their haste to make deals.
The fracas ended with three groups being chosen winners and runners-up. They all received the prizes as promised and most of the recipients didn't forget to share the spoils with their fellow members.
The next item on the agenda was the ceremonial cutting of the first anniversary cake which was duly performed jointly by Mr. Kannangara and Mr. Huxtable, the Chief Operating Officer of Celltel.
At the end of the round of applause which accompanied the cutting, Ms. Yasmin Cader, the PR Manager of Hilton, announced a bonanza for all the members in the form of a discount on food at the WOK. It was in high spirits that the members went home after serving themselves slices of the anniversary cake.
The next get-together of the business club is scheduled to take place on the 20th of this month. It will be another opportunity to mix business with pleasure.
Trade Expo '96 - The Southern Province, Ruhuna's showcase of products - will be held from June 14 to 16 at the Coral Gardens Hotel Hikkaduwa. Trade Minister Kingsley T. Wickremaratne together with other ministers from the province will participate at this event.
Sri Lanka Export Development Board in collaboration with the Southern Provincial Council and Southern Province Development Authority is organising the trade fair with the support from the Presidential Task Force for Southern Area Development, Southern Province Chambers of Commerce and Industry and Board of Investment.
The main objective of the fair is to display the export potential of large, small and medium scale entrepreneurs in the province to exporters and buyers with the view of obtaining exposure to their products for the export market, organisers say.
More than 60 manufacturers and suppliers from the province will participate. On show will be wooden products, handicrafts, handloom fabrics, coir products, costume jewelry, processed food and spices, granite products, leather products, electrical equipment, light engineering products, essential oils, aquatic and marine products etc.
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