The problem could end up in legal wrangle and go to arbitration and take a long time, which the BAGOC can ill-afford, as it has bills to pay. Both sides have their stories to tell, but meanwhile, the locals and tourists are making the best of the situation: by buying souvenirs at cheap prices.

In the heart of the Muongthong Sports Complex, there is a market with goods displayed on makeshift stands. Locals say the vendors bring their stuff in carrier vans and take them to various parts of the city on different days. All depending on where they feel there will be more shoppers, local or tourists. No matter what label youwant -- Lacoste and Tommy Hilfiger T-shirts, Levis jeans, Adidas and Reebok shoes and even Rolex watches -- it is available. For bargain hunters, this is heaven for things ranging from small souvenir pens to TV sets, microwave ovens and even furniture. All available at excellent prices.

But that precisely is what presents the biggest headache for sellers and manufacturers of branded products. Feeling the brunt of these problems are the organisers of the Asian Games. Thousands of manufacturers have been selling fake souvenirs, at a cheaper price. As a result, sales of the official souvenirs have been hit badly. So good are the imitations that it is hard to make out the fake from the genuine and quite naturally, it is the fake souvenirs which sell.

The BAGOC has had to revise and cut down its budgets many times. But even then, it is faced with the problem of not being able to realise money from many of the people who had promised it in lieu of various rights. The biggest dispute it seems is with theofficial licensing agents, the Football Thai Factory Sporting Goods Company (FBT).

For most major international sports events, the organising committee's marketing agents usually hand over the contract of being the official licensing agent for a good fee, which is $ 5 million for the Bangkok Games. And the company which had been handed this contract is the FBT, a private company which has varied business interests and one of them is handling officially licensed products. It also handled the marketing of souvenirs for the 1998 World Cup football.

According to an Olympic Council of Asia official, last year in May, when there was still a big question mark over whether or not Bangkok would be able to host the Games, the BAGOC signed an agreement under which the FBT was to pay the Organising Committee $ 5 million. In return, they would be the ``master licensing agent'' and it was estimated that their sales would be in excess of $ 8-9 million. But OCA officials have now revealed that FBT has so far paid only $1 million.

The BAGOC and the OCA have now warned FBT that it will take the case to the arbitrators unless the remainder of the money is paid by December 17.