Singapore businesses could soon get temporary relief from legal penalties for failing to meet contractual obligations

Published on 01 Apr 2020. | Source: theedgemarkets.com

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SINGAPORE (April 1): Singapore businesses unable to fulfil their contractual obligations as a result of Covid-19, may soon enjoy temporary relief from the legal penalties.

SIngapore’s Ministry of Law (MinLaw) has introduced the Covid-19 (Temporary Measures) Bill, which will be debated in parliament on April 6. 

Citing significant disruption to contracts relating to commercial undertakings, commercial and industrial tenancies, as well as individual consumer transactions, MinLaw says the bill aims to protect businesses that are unable to honour their commitments due to unforeseen circumstances, such as...(click on link for full story on theedgesingapore.com)