Protection for companies unable to pay rent, individuals who have placed deposits for events, under proposed Bill to stem COVID19 fallout
SINGAPORE: Companies that are unable to pay their rent and individuals who have placed deposits for events including weddings will be protected under a new Bill that will be introduced in Parliament next week to provide temporary relief against their contractual obligations amid the COVID-19 outbreak.
Companies or people that need to be relieved from their obligations have to inform the other party, which can be as simple as sending a text that states “I can’t pay my rent due to the COVID-19 situation”, said Senior Minister of State for Law Edwin Tong during a press briefing on Tuesday ahead of the announcement.
“The process will be affordable, fast, and simple. Parties will not be allowed to be represented by lawyers, and there will be no costs orders. Assessors’ decisions will be final and not appealable,” the ministry said.Under the Bill, non-residential leases cannot be terminated if businesses are unable to pay their rent.
Specifically for construction companies, they will not be liable for liquidated damages or delays arising from COVID-19. READ: COVID-19 Budget: Government to announce legal measures involving paid deposits as soon-to-wed couples stuck in limbo
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