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 unable to honour their commitments due to unforeseen circumstances such as supply chain disruptions and manpower shortages.
SINGAPORE (Apr 1): Businesses unable to fulfil their contractual obligations as a result of Covid-19 may soon enjoy temporary relief from the legal penalties.
The Ministry of Law has introduced the Covid-19 (Temporary Measures) Bill, which will be debated in parliament on April 6.
